Estimating the Robustness of Composite CBA and MCDA Assessments by Variation of Criteria Importance Order

Anders Vestergaard Jensen, Michael Bruhn Barfod, Steen Leleur

    Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

    Abstract

    Abstract This paper discusses the concept of using rank variation concerning the stakeholder prioritising of importance criteria for exploring the sensitivity of criteria weights in multi-criteria analysis (MCA). Thereby the robustness of the MCA-based decision support can be tested. The analysis described is based on the fact that when using MCA as a decision-support tool, questions often arise about the weighting (or prioritising) of the included criteria. This part of the MCA is seen as the most subjective part and could give reasons for discussion among the decision makers or stakeholders. Furthermore, the relative weights can make a large difference in the resulting assessment of alternatives (Hobbs and Meier 2000). Therefore it is highly relevant to introduce a procedure for estimating the importance of criteria weights. This paper proposes a methodology for estimating the robustness of weights used in additive utility models.
    Original languageEnglish
    Title of host publicationNew State of MCDM in the 21st Century : Selected Papers of the 20th International Conference on Multiple Criteria Decision Making 2009
    EditorsYong Shi, Shouyang Wang, Jyrki Wallenius, Gang Kou
    PublisherSpringer Publishing Company
    Publication date2011
    Pages59-67
    Chapter5
    ISBN (Print)978-3-642-19694-2
    ISBN (Electronic)978-3-642-19695-9
    DOIs
    Publication statusPublished - 2011
    EventThe 20th International Conference on Multiple Criteria Decision Making - Chengdu, China
    Duration: 1 Jan 2009 → …

    Conference

    ConferenceThe 20th International Conference on Multiple Criteria Decision Making
    CityChengdu, China
    Period01/01/2009 → …
    SeriesLecture Notes in Economics and Mathematical Systems
    ISSN0075-8442

    Keywords

    • Decision-support tool
    • Multi-criteria analysis
    • Rank order distribution
    • Stakeholder preference
    • COSIMA

    Cite this

    Jensen, A. V., Barfod, M. B., & Leleur, S. (2011). Estimating the Robustness of Composite CBA and MCDA Assessments by Variation of Criteria Importance Order. In Y. Shi, S. Wang, J. Wallenius, & G. Kou (Eds.), New State of MCDM in the 21st Century: Selected Papers of the 20th International Conference on Multiple Criteria Decision Making 2009 (pp. 59-67). Springer Publishing Company. Lecture Notes in Economics and Mathematical Systems https://doi.org/10.1007/978-3-642-19695-9