Some theory and an approach to solving sequential multiple-criteria decision problems

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6 Citations (Scopus)

Abstract

This paper examines a sequential multiple-criteria decision problem. The problem arises when a decision-maker is unable to consider all possible decision alternatives simultaneously. The decision-maker evaluates only a subset of all decision alternatives, from which he chooses the most preferred solution. Obviously, this solution is not necessarily ‘globally’ best. An interesting question is: how good is the most preferred solution and what are the chances of finding a better solution by considering additional alternatives? A unified approach to solving this problem based on probability theory is presented and illustrated with numerical examples.

Original languageEnglish
Pages (from-to)501-508
Number of pages8
JournalJournal of the Operational Research Society
Volume37
Issue number5
DOIs
Publication statusPublished - 1986
MoE publication typeA1 Journal article-refereed

Keywords

  • Multiple-criteria decision-making
  • Probability theory
  • Sequential decision-making

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