<p><span>Many real-world decision problems have multiple objectives. For example, when choosing a medical treatment plan, we want to maximize the efficacy of the treatment, but also minimize the side effects. These objectives typically conflict, e.g., we can often increase the efficacy of the treatm
Sensitivity Analysis in Multi-objective Decision Making
β Scribed by Dr. David RΓos Insua (auth.)
- Publisher
- Springer-Verlag Berlin Heidelberg
- Year
- 1990
- Tongue
- English
- Leaves
- 204
- Series
- Lecture Notes in Economics and Mathematical Systems 347
- Edition
- 1
- Category
- Library
No coin nor oath required. For personal study only.
β¦ Synopsis
The axiomatic foundations of the Bayesian approach to decision making assurne precision in the decision maker's judgements. In practicc, dccision makers often provide only partial and/or doubtful information. We unify and expand results to deal with those cases introducing a general framework for sensitivity analysis in multi-objective decision making. We study first decision making problems under partial information. We provide axioms leading to modelling preferences by families of value functions, in problems under certainty, and moJelling beliefs by families of probability distributions and preferences by familics of utility functions, in problems under uncertainty. Both problems are treated in parallel with the same parametric model. Alternatives are ordered in a Pareto sense, the solution of the problem being the set of nonΒ dominated alternatives. Potentially optimal solutions also seem acceptable, from an intuitive point of view and due to their relation with the nondominated ones. Algorithms are provided to compute these solutions in general problems and in cases typical in practice: linear and bilinear problems. Other solution concepts are criticised on the grounds of being ad hoc. In summary, we have a more roΒ bust theory of decision making based on a weaker set ofaxioms, but embodying coherence, since it essentially implies carrying out a family of coherent dccision anitlyses.
β¦ Table of Contents
Front Matter....Pages I-XI
Partial Information and Sensitivity Analysis in Decision Making. Introduction....Pages 1-27
Decision Making under Partial Information: Theory and Algorithms....Pages 28-73
Sensitivity Analysis in Multi-objective Decision Making....Pages 74-126
Computational experience....Pages 127-163
Conclusions....Pages 164-171
Back Matter....Pages 172-193
β¦ Subjects
Operation Research/Decision Theory
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