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Tailoring value elicitation to decision makers' numeracy and fluency: Expressing value judgments in numbers or words

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  • Fasolo, Barbara
  • Bana e Costa, Carlos A.

Abstract

In organizational settings, options evaluation requires managers to express value judgments on multiple criteria. This research investigates the influence of decision makers' numeracy (ability to use appropriate numerical principles) and fluency (ability to express oneself in words) on their subjective experience of value elicitation as supported by two different techniques: direct rating and MACBETH. The former asks for value judgments to be expressed numerically, the latter non-numerically. The results of our experiment indicate that the two techniques are not psychologically equivalent: decision makers with higher numeracy express values more easily when assisted by the numerical technique whereas decision makers with higher fluency find value elicitation easier with the non-numerical technique. These findings highlight the importance of tailoring value elicitation to decision makers' numeracy and fluency. Implications for decision scientists and analysts are discussed.

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  • Fasolo, Barbara & Bana e Costa, Carlos A., 2014. "Tailoring value elicitation to decision makers' numeracy and fluency: Expressing value judgments in numbers or words," Omega, Elsevier, vol. 44(C), pages 83-90.
    • Handle: RePEc:eee:jomega:v:44:y:2014:i:c:p:83-90
    DOI: 10.1016/j.omega.2013.09.006
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    6. Franco, L. Alberto & Hämäläinen, Raimo P. & Rouwette, Etiënne A.J.A. & Leppänen, Ilkka, 2021. "Taking stock of behavioural OR: A review of behavioural studies with an intervention focus," European Journal of Operational Research, Elsevier, vol. 293(2), pages 401-418.
    7. Engin, Ayşegül & Franco, L. Alberto & Rouwette, Etiënne A.J.A., 2024. "How groups manage conflict when using model-driven decision support: An epistemic motivation lens," Omega, Elsevier, vol. 129(C).
    8. Tom Pape, 2020. "Value of agreement in decision analysis: Concept, measures and application," Papers 2012.13816, arXiv.org.
    9. García-Lapresta, José Luis & González del Pozo, Raquel, 2019. "An ordinal multi-criteria decision-making procedure under imprecise linguistic assessments," European Journal of Operational Research, Elsevier, vol. 279(1), pages 159-167.
    10. Pape, Tom, 2017. "Value of agreement in decision analysis: concept, measures and application," LSE Research Online Documents on Economics 68682, London School of Economics and Political Science, LSE Library.
    11. Vieira, Ana C.L. & Oliveira, Mónica D. & Bana e Costa, Carlos A., 2020. "Enhancing knowledge construction processes within multicriteria decision analysis: The Collaborative Value Modelling framework," Omega, Elsevier, vol. 94(C).
    12. Franco, L. Alberto & Hämäläinen, Raimo P., 2016. "Behavioural operational research: Returning to the roots of the OR profession," European Journal of Operational Research, Elsevier, vol. 249(3), pages 791-795.
    13. Corrente, S. & Figueira, J.R. & Greco, S., 2021. "Pairwise comparison tables within the deck of cards method in multiple criteria decision aiding," European Journal of Operational Research, Elsevier, vol. 291(2), pages 738-756.
    14. Angelis, A. & Linch, M. & Montibeller, G. & Molina-Lopez, T. & Zawada, A. & Orzel, K. & Arickx, F. & Espin, J. & Kanavos, P., 2020. "Multiple Criteria Decision Analysis for HTA across four EU Member States: Piloting the Advance Value Framework," Social Science & Medicine, Elsevier, vol. 246(C).
    15. Bana e Costa, Carlos A. & Oliveira, Mónica D. & Rodrigues, Teresa C. & Vieira, Ana C.L., 2023. "Desirability–doability group judgment framework for the collaborative multicriteria evaluation of public policies," LSE Research Online Documents on Economics 118192, London School of Economics and Political Science, LSE Library.
    16. Bana e Costa, Carlos A. & Oliveira, Mónica D. & Vieira, Ana C.L. & Freitas, Liliana & Rodrigues, Teresa C. & Bana e Costa, João & Freitas, Ângela & Santana, Paula, 2023. "Collaborative development of composite indices from qualitative value judgements: The EURO-HEALTHY Population Health Index model," European Journal of Operational Research, Elsevier, vol. 305(1), pages 475-492.

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