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Multicriteria Decision Making

In: Operations Research

Author

Listed:
  • H. A. Eiselt

    (University of New Brunswick)

  • Carl-Louis Sandblom

    (Dalhousie University)

Abstract

The models and methods in this chapter all consider problems, in which the consequences of a decision are no longer one-dimensional, while, in contrast to the scenario in decision analysis, the outcomes are again deterministic. In other words, if we were to, say, change the composition of a soft drink we manufacture or change the controls on a television, we do not just deal with profit as a result of this decision, but face changing customer acceptance (and demand) for the product, different costs, changing market share, customer satisfaction, and other factors, all of which will influence short- and long-term viability of the firm. The models discussed in this chapter are similar to those in the chapter on multiobjective optimization, except that these are discrete: we face only a finite (and usually fairly small) number of choices.

Suggested Citation

  • H. A. Eiselt & Carl-Louis Sandblom, 2012. "Multicriteria Decision Making," Springer Texts in Business and Economics, in: Operations Research, edition 2, chapter 10, pages 333-342, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-31054-6_10
    DOI: 10.1007/978-3-642-31054-6_10
    as

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