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Interactive Multicriteria Methods in Portfolio Decision Analysis

In: Portfolio Decision Analysis

Author

Listed:
  • Nikolaos Argyris

    (Management Science Group)

  • José Rui Figueira

    (Universidade Técnica de Lisboa)

  • Alec Morton

    (Management Science Group)

Abstract

Decision Analysis is a constructive, learning process. This is particularly true of Portfolio Decision Analysis (PDA) where the number of elicitation judgements is typically very large and the alternatives under consideration are a combinatorial set and so cannot be listed and examined explicitly. Consequently, PDA is to some extent an interactive process. In this chapter we discuss what form that interactivity might take, discussing first of all how the process of asking for judgements should be staged and managed, and secondly what assumptions should be made about the substantive value models which the analyst assumes. To make the discussion concrete, we present two interactive procedures based on extended dominance concepts which assume linear additive and concave piecewise-linear additive value functions, respectively.

Suggested Citation

  • Nikolaos Argyris & José Rui Figueira & Alec Morton, 2011. "Interactive Multicriteria Methods in Portfolio Decision Analysis," International Series in Operations Research & Management Science, in: Ahti Salo & Jeffrey Keisler & Alec Morton (ed.), Portfolio Decision Analysis, chapter 0, pages 107-130, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-9943-6_5
    DOI: 10.1007/978-1-4419-9943-6_5
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    Citations

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    Cited by:

    1. Juuso Liesiö, 2014. "Measurable Multiattribute Value Functions for Portfolio Decision Analysis," Decision Analysis, INFORMS, vol. 11(1), pages 1-20, March.
    2. Rudolf vetschera & Jonatas Araùjo de Almeida, 2021. "Bounds in Tree-Based Approaches to Generate Project Portfolios in the Presence of Interactions," International Journal of Decision Support System Technology (IJDSST), IGI Global, vol. 13(4), pages 1-21, October.
    3. Mavrotas, George & Makryvelios, Evangelos, 2021. "Combining multiple criteria analysis, mathematical programming and Monte Carlo simulation to tackle uncertainty in Research and Development project portfolio selection: A case study from Greece," European Journal of Operational Research, Elsevier, vol. 291(2), pages 794-806.

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