Multiattribute value elicitation
Morton, Alec; Dias, Luis C. and Morton, Alec and Quigley, John, eds. (2017) Multiattribute value elicitation. In: Elicitation. International Series in Operations Research & Management Science, 261 . Springer, New York, pp. 287-311. ISBN 9783319650517 (https://doi.org/10.1007/978-3-319-65052-4_12)
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Abstract
Multiattribute Value Theory (MAVT) methods are perhaps the most intuitive mul-ticriteria methods, and have the most theoretically well-understood basis. They are employ a divide-and-conquer modelling strategy in which the value of an op-tion is conceptualised as a function (typically the sum) of the scores associated with the performance of the option on different attributes. This chapter outlines the concept of preferential independence, which has a critical underpinning role of elicitation within the MAVT paradigm. I also present MAVT elicitation in the context of the overall Decision Analysis process, comprising three broad stages: Designing and Planning; Structuring the Model; and Analysing the Model. I out-line some of the main practical methods for arriving at the partial values and weighting them to arrive at an overall value score, including both traditional methods relying on cardinal assessment, and the MACBETH approach which uses qualitative difference judgements. A running example of a house choice problem is used to illustrate the different elicitation approaches.
ORCID iDs
Morton, Alec ORCID: https://orcid.org/0000-0003-3803-8517; Dias, Luis C., Morton, Alec and Quigley, John-
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Item type: Book Section ID code: 60809 Dates: DateEvent18 December 2017Published18 November 2017Published Online31 May 2017AcceptedSubjects: Social Sciences > Industries. Land use. Labor > Management. Industrial Management Department: Strathclyde Business School > Management Science
Strategic Research Themes > Health and WellbeingDepositing user: Pure Administrator Date deposited: 31 May 2017 11:20 Last modified: 05 Dec 2024 01:04 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/60809