Journal
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volume 219, Issue 2, Pages 360-367Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2011.12.040
Keywords
Linear value function; Inconsistency; Multiple criteria; Weights; Binary choices
Funding
- Academy of Finland [121980]
- Academy of Finland (AKA) [121980, 121980] Funding Source: Academy of Finland (AKA)
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We investigate in a simple bi-criteria experimental study, whether subjects are consistent with a linear value function while making binary choices. Many inconsistencies appeared in our experiment. However, the impact of inconsistencies on the linearity vs. non-linearity of the value function was minor. Moreover, a linear value function seems to predict choices for bi-criteria problems quite well. This ability to predict is independent of whether the value function is diagnosed linear or not. Inconsistencies in responses did not necessarily change the original diagnosis of the form of the value function. Our findings have implications for the design and development of decision support tools for Multiple Criteria Decision Making problems. (C) 2012 Elsevier B.V. All rights reserved.
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