Abstract
| Original language | English |
|---|---|
| Title of host publication | New State of MCDM in the 21st Century : Selected Papers of the 20th International Conference on Multiple Criteria Decision Making 2009 |
| Editors | Yong Shi, Shouyang Wang, Jyrki Wallenius, Gang Kou |
| Publisher | Springer Publishing Company |
| Publication date | 2011 |
| Pages | 59-67 |
| Chapter | 5 |
| ISBN (Print) | 978-3-642-19694-2 |
| ISBN (Electronic) | 978-3-642-19695-9 |
| DOIs | |
| Publication status | Published - 2011 |
| Event | The 20th International Conference on Multiple Criteria Decision Making - Chengdu, China Duration: 1 Jan 2009 → … |
Conference
| Conference | The 20th International Conference on Multiple Criteria Decision Making |
|---|---|
| City | Chengdu, China |
| Period | 01/01/2009 → … |
| Series | Lecture Notes in Economics and Mathematical Systems |
|---|---|
| ISSN | 0075-8442 |
Keywords
- Decision-support tool
- Multi-criteria analysis
- Rank order distribution
- Stakeholder preference
- COSIMA
Cite this
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Estimating the Robustness of Composite CBA and MCDA Assessments by Variation of Criteria Importance Order. / Jensen, Anders Vestergaard; Barfod, Michael Bruhn; Leleur, Steen.
New State of MCDM in the 21st Century: Selected Papers of the 20th International Conference on Multiple Criteria Decision Making 2009. ed. / Yong Shi; Shouyang Wang; Jyrki Wallenius; Gang Kou. Springer Publishing Company, 2011. p. 59-67 (Lecture Notes in Economics and Mathematical Systems).Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review
TY - GEN
T1 - Estimating the Robustness of Composite CBA and MCDA Assessments by Variation of Criteria Importance Order
AU - Jensen, Anders Vestergaard
AU - Barfod, Michael Bruhn
AU - Leleur, Steen
PY - 2011
Y1 - 2011
N2 - 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.
AB - 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.
KW - Decision-support tool
KW - Multi-criteria analysis
KW - Rank order distribution
KW - Stakeholder preference
KW - COSIMA
U2 - 10.1007/978-3-642-19695-9
DO - 10.1007/978-3-642-19695-9
M3 - Article in proceedings
SN - 978-3-642-19694-2
T3 - Lecture Notes in Economics and Mathematical Systems
SP - 59
EP - 67
BT - New State of MCDM in the 21st Century
A2 - Shi, Yong
A2 - Wang, Shouyang
A2 - Wallenius, Jyrki
A2 - Kou, Gang
PB - Springer Publishing Company
ER -