Behavioural decision theory for multi-criteria decision analysis : a guided tour
Morton, Alec and Fasolo, Barbara (2009) Behavioural decision theory for multi-criteria decision analysis : a guided tour. Journal of the Operational Research Society, 60 (2). pp. 268-275. (https://doi.org/10.1057/palgrave.jors.2602550)
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Multi-criteria decision analysis (MCDA) involves asking decision makers difficult questions, and can leave them thinking that their judgements are not as coherent as they might have thought. This experience can be distressing and may even lead to rejection of the analysis. The psychology of preference sheds light both on how people naturally make choices without decision analytic assistance, and on how people think about the MCDA elicitation questions. As such, it can help the analyst to respond helpfully to difficulties which decision makers may face. In this paper, we review research from Behavioural Decision Theory relevant to MCDA. Our review follows the MCDA process, discussing research relevant to the structuring, value elicitation, and weighting phases of the analysis, outlining relevant and important findings, and open questions for research and practice.
ORCID iDs
Morton, Alec ORCID: https://orcid.org/0000-0003-3803-8517 and Fasolo, Barbara;-
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Item type: Article ID code: 45480 Dates: DateEventFebruary 2009PublishedSubjects: Social Sciences > Industries. Land use. Labor > Management. Industrial Management Department: Strathclyde Business School > Management Science Depositing user: Pure Administrator Date deposited: 29 Oct 2013 15:27 Last modified: 06 Oct 2024 05:56 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/45480