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Sensitivity Analysis of Additive Multiattribute Value Models

Author

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  • Hutton Barron

    (University of Alabama, Tuscaloosa, Alabama)

  • Charles P. Schmidt

    (University of Alabama, Tuscaloosa, Alabama)

Abstract

We present two simple computational procedures for sensitivity analysis of additive multiattribute value models that yield variations in attribute weights (scaling constants). For the first, or entropy-based, procedure, the point of departure is the concept of equal weights for all attributes. For the second, or least squares procedure, the point of departure is a set of arbitrary weights for attributes. In each procedure we either (a) calculate the “closest” set of weights that equates the multiattribute value for a pair of alternatives—that alternative whose overall value is optimal for the original attribute weights and any other specific nondominated alternative—or (b) calculate the “closest” set of weights required for the specific alternative to exceed the “optimal” alternative by a specified amount.

Suggested Citation

  • Hutton Barron & Charles P. Schmidt, 1988. "Sensitivity Analysis of Additive Multiattribute Value Models," Operations Research, INFORMS, vol. 36(1), pages 122-127, February.
    • Handle: RePEc:inm:oropre:v:36:y:1988:i:1:p:122-127
    DOI: 10.1287/opre.36.1.122
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    Citations

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    Cited by:

    1. Stephen P. Chambal & Jeffery D. Weir & Yucel R. Kahraman & Alex J. Gutman, 2011. "A Practical Procedure for Customizable One-Way Sensitivity Analysis in Additive Value Models," Decision Analysis, INFORMS, vol. 8(4), pages 303-321, December.
    2. Vetschera, Rudolf, 1996. "A recursive algorithm for volume-based sensitivity analysis of linear decision models," Discussion Papers, Series I 279, University of Konstanz, Department of Economics.
    3. Vetschera, Rudolf, 1996. "Multi-criteria agency theory," Discussion Papers, Series I 280, University of Konstanz, Department of Economics.
    4. Williams, Perry J. & Kendall, William L. & Hooten, Mevin B., 2019. "Selecting ecological models using multi-objective optimization," Ecological Modelling, Elsevier, vol. 404(C), pages 21-26.
    5. Ahn, Byeong Seok, 2017. "Approximate weighting method for multiattribute decision problems with imprecise parameters," Omega, Elsevier, vol. 72(C), pages 87-95.
    6. Ali E. Abbas & Zhengwei Sun, 2019. "Archimedean Utility Copulas with Polynomial Generating Functions," Decision Analysis, INFORMS, vol. 16(3), pages 218-237, September.
    7. A Jessop, 2010. "A portfolio model for performance assessment: the Financial Times MBA ranking," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 61(4), pages 632-639, April.
    8. Wang, Jingguo & Zionts, Stanley, 2006. "The aspiration level interactive method (AIM) reconsidered: Robustness of solutions," European Journal of Operational Research, Elsevier, vol. 175(2), pages 948-958, December.
    9. Ichiro Nishizaki & Hideki Katagiri & Tomohiro Hayashida, 2010. "Sensitivity analysis incorporating fuzzy evaluation for scaling constants of multiattribute utility functions," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(3), pages 383-396, September.
    10. Alwan, Layth C. & Ebrahimi, Nader & Soofi, Ehsan S., 1998. "Information theoretic framework for process control," European Journal of Operational Research, Elsevier, vol. 111(3), pages 526-542, December.
    11. Chen, Hongyi & Kocaoglu, Dundar F., 2008. "A sensitivity analysis algorithm for hierarchical decision models," European Journal of Operational Research, Elsevier, vol. 185(1), pages 266-288, February.
    12. Vetschera, Rudolf, 2009. "Learning about preferences in electronic negotiations - A volume-based measurement method," European Journal of Operational Research, Elsevier, vol. 194(2), pages 452-463, April.
    13. Ecer, Fatih & Pamucar, Dragan, 2022. "A novel LOPCOW‐DOBI multi‐criteria sustainability performance assessment methodology: An application in developing country banking sector," Omega, Elsevier, vol. 112(C).
    14. Ali E. Abbas & Zhengwei Sun, 2015. "Multiattribute Utility Functions Satisfying Mutual Preferential Independence," Operations Research, INFORMS, vol. 63(2), pages 378-393, April.
    15. Ascough, J.C. & Maier, H.R. & Ravalico, J.K. & Strudley, M.W., 2008. "Future research challenges for incorporation of uncertainty in environmental and ecological decision-making," Ecological Modelling, Elsevier, vol. 219(3), pages 383-399.

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    Keywords

    091; 097 sensitivity of additive models;

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