TY - JOUR
T1 - Some theory and an approach to solving sequential multiple-criteria decision problems
AU - Korhonen, Pekka
AU - Wallenius, Jyrki
PY - 1986
Y1 - 1986
N2 - 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.
AB - 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.
KW - Multiple-criteria decision-making
KW - Probability theory
KW - Sequential decision-making
UR - http://www.scopus.com/inward/record.url?scp=0022709516&partnerID=8YFLogxK
U2 - 10.1057/jors.1986.85
DO - 10.1057/jors.1986.85
M3 - Article
VL - 37
SP - 501
EP - 508
JO - Journal of the Operational Research Society
JF - Journal of the Operational Research Society
SN - 0160-5682
IS - 5
ER -