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Reference Point Approach for Multiple Decision Makers

Risto Lahdelma, Kaisa Miettinen, Pekka Salminen, Reference Point Approach for Multiple Decision Makers. European Journal of Operational Research 164(3), 785–791, 2005.

Abstract:

We consider multiple criteria decision-making problems where a group of decision-makers wants to find the most preferred solution from a discrete set of alternatives. We develop a method that uses achievement functions for charting subsets of reference points that would support a certain alternative to be the most preferred one. The resulting descriptive information is provided to the decision-makers in the form of reference acceptability indices and central reference points for each decision alternative. Then, the decision-makers can compare this information with their own preferences. We demonstrate the use of the method using a strategic multiple criteria decision model for an electricity retailer.

BibTeX entry:

@ARTICLE{jLaMiSa05a,
  title = {Reference Point Approach for Multiple Decision Makers},
  author = {Lahdelma, Risto and Miettinen, Kaisa and Salminen, Pekka},
  journal = {European Journal of Operational Research},
  volume = {164},
  number = {3},
  pages = {785–791},
  year = {2005},
  keywords = {Multiple criteria analysis; Multiple criteria decision making; Discrete optimisation; Group decision making; Achievement function},
}

Belongs to TUCS Research Unit(s): Algorithmics and Computational Intelligence Group (ACI)

Publication Forum rating of this publication: level 2

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