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Development of Interactive Support Systems for Multiobjective Decision Analysis under Uncertainty

Author

Listed:
  • Fumiko Seo

    (Institute of Economic Research, Kyoto University)

  • Hidenobu Hamamoto

    (Graduate School of Engineering, Hiroshima University)

Abstract

This paper presents interactive multiobjective decision analysis support systems, called MIDASS, which is a newly developed interactive computer program for strategic use of expected utility theory. Decision analysis based on expected utility hypothesis is an established prescriptive approach for supporting business decisions under uncertainty, which embodies an effective procedure for seeking the best choice among alternatives. It is usually difficult, however, for the decision maker (DM) to apply it for the strategic use in the realistic business situations. MIDASS provides an integrated interactive computer system for supporting multiobjective decision analysis under uncertainty, which assists to derive an acceptable business solution for DM with the construction of his/her expected multiattribute utility fuction (EMUF).

Suggested Citation

  • Fumiko Seo & Hidenobu Hamamoto, 2007. "Development of Interactive Support Systems for Multiobjective Decision Analysis under Uncertainty," KIER Working Papers 637, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:637
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    File URL: http://www.kier.kyoto-u.ac.jp/DP/DP637.pdf
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    Cited by:

    1. Hayashida, Tomohiro & Nishizaki, Ichiro & Ueda, Yoshifumi, 2010. "Multiattribute utility analysis for policy selection and financing for the preservation of the forest," European Journal of Operational Research, Elsevier, vol. 200(3), pages 833-843, February.

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