IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v28y1980i1p233-252.html
   My bibliography  Save this article

Multiattribute Decision Making by Sequential Resource Allocation

Author

Listed:
  • Peter A. Morris

    (Applied Decision Analysis, Inc., Menlo Park, California)

  • Shmuel S. Oren

    (Xerox Palo Alto Research Center, Palo Alto, California)

Abstract

A new approach is proposed for addressing decision problems in which the outcomes are multidimensional and possibly interdependent. The method is based on decomposing the problem into a sequence of simpler decision problems. The solution to each subproblem is elicited from the decision-maker by converting it to a simple resource allocation task that may be solved by inspection. Our experience indicates that these resource allocation tasks are considerably simpler and more intuitive than the local tradeoff assessments required by existing iterative methods. The information provided by the decision-maker at each stage is used to generate a sequence of successively improving attribute bundles converging to the solution to the original complex decision problem. The approach is illustrated in the context of a financial planning problem.

Suggested Citation

  • Peter A. Morris & Shmuel S. Oren, 1980. "Multiattribute Decision Making by Sequential Resource Allocation," Operations Research, INFORMS, vol. 28(1), pages 233-252, February.
    • Handle: RePEc:inm:oropre:v:28:y:1980:i:1:p:233-252
    DOI: 10.1287/opre.28.1.233
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.28.1.233
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.28.1.233?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:28:y:1980:i:1:p:233-252. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.