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Estimating the Robustness of Composite CBA and MCA Assessments by Variation of Criteria Importance Order

In: New State of MCDM in the 21st Century

Author

Listed:
  • Anders Vestergaard Jensen

    (Technical University of Denmark)

  • Michael Bruhn Barfod

    (Technical University of Denmark)

  • Steen Leleur

    (Technical University of Denmark)

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.

Suggested Citation

  • Anders Vestergaard Jensen & Michael Bruhn Barfod & Steen Leleur, 2011. "Estimating the Robustness of Composite CBA and MCA Assessments by Variation of Criteria Importance Order," Lecture Notes in Economics and Mathematical Systems, in: Yong Shi & Shouyang Wang & Gang Kou & Jyrki Wallenius (ed.), New State of MCDM in the 21st Century, chapter 0, pages 59-67, Springer.
    • Handle: RePEc:spr:lnechp:978-3-642-19695-9_5
    DOI: 10.1007/978-3-642-19695-9_5
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