The benefits of global scaling in multi-criteria decision analysis
When there are multiple competing objectives in a decision-making process, Multi-Attribute Choice scoring models are excellent tools, permitting the incorporation of both subjective and objective attributes. However, their accuracy depends upon the subjective techniques used to construct the attribu...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
2009-10-01
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| Series: | Judgment and Decision Making |
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| Online Access: | http://journal.sjdm.org/8430/jdm8430.pdf |
| _version_ | 1797717857361985536 |
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| author | Jamie P. Monat |
| author_facet | Jamie P. Monat |
| author_sort | Jamie P. Monat |
| collection | DOAJ |
| description | When there are multiple competing objectives in a decision-making process, Multi-Attribute Choice scoring models are excellent tools, permitting the incorporation of both subjective and objective attributes. However, their accuracy depends upon the subjective techniques used to construct the attribute scales and their concomitant weights. Conventional techniques using local scales tend to overemphasize small differences in attribute measures, which may yield erroneous conclusions. The Range Sensitivity Principle (RSP) is often invoked to adjust attribute weights when local scales are used. In practice, however, decision makers often do not follow the prescriptions of the Range Sensitivity Principle and under-adjust the weights, resulting in potentially poor decisions. Examples are discussed as is a proposed solution: the use of global scales instead of local scales. |
| first_indexed | 2024-03-12T08:42:31Z |
| format | Article |
| id | doaj.art-0bb06376068f401cba85e92836d2c1b9 |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T08:42:31Z |
| publishDate | 2009-10-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-0bb06376068f401cba85e92836d2c1b92023-09-02T16:37:04ZengCambridge University PressJudgment and Decision Making1930-29752009-10-0146492508The benefits of global scaling in multi-criteria decision analysisJamie P. MonatWhen there are multiple competing objectives in a decision-making process, Multi-Attribute Choice scoring models are excellent tools, permitting the incorporation of both subjective and objective attributes. However, their accuracy depends upon the subjective techniques used to construct the attribute scales and their concomitant weights. Conventional techniques using local scales tend to overemphasize small differences in attribute measures, which may yield erroneous conclusions. The Range Sensitivity Principle (RSP) is often invoked to adjust attribute weights when local scales are used. In practice, however, decision makers often do not follow the prescriptions of the Range Sensitivity Principle and under-adjust the weights, resulting in potentially poor decisions. Examples are discussed as is a proposed solution: the use of global scales instead of local scales.http://journal.sjdm.org/8430/jdm8430.pdfdecision analysismultiple criteria analysisrangesensitivityglobal scalelocal scaleimportance weightswing weight. |
| spellingShingle | Jamie P. Monat The benefits of global scaling in multi-criteria decision analysis Judgment and Decision Making decision analysis multiple criteria analysis rangesensitivity global scale local scale importance weight swing weight. |
| title | The benefits of global scaling in multi-criteria decision analysis |
| title_full | The benefits of global scaling in multi-criteria decision analysis |
| title_fullStr | The benefits of global scaling in multi-criteria decision analysis |
| title_full_unstemmed | The benefits of global scaling in multi-criteria decision analysis |
| title_short | The benefits of global scaling in multi-criteria decision analysis |
| title_sort | benefits of global scaling in multi criteria decision analysis |
| topic | decision analysis multiple criteria analysis rangesensitivity global scale local scale importance weight swing weight. |
| url | http://journal.sjdm.org/8430/jdm8430.pdf |
| work_keys_str_mv | AT jamiepmonat thebenefitsofglobalscalinginmulticriteriadecisionanalysis AT jamiepmonat benefitsofglobalscalinginmulticriteriadecisionanalysis |