MULTI-ATTRIBUTE DECISION-MAKING METHODS–INDIFFERENCE ASSESSMENTS

Keywords: multi-attribute decision-making methods, indifference methods, additive model, multiplicative model, multiple linear model, weighting

Abstract

Real situations are based on multiple attributes or criteria. If the assessment problem has multiple dimensions of value, then intuitive judgments can be very difficult. In many situations, the ultimate assessment seems very difficult, especially when the decision maker chooses one of a set of possible options in an unfamiliar environment. This paper analyzes indifference value measurement methods. Indifference value measurement methods rely on studies of indifference (indifference assessments) or comparison of strength of preferences. The values that the decision maker gives to the attributes reflect his preferences, ie. utilities. Utility is only a way to describe preferences. The process of determining (functions) values is only one form of sequential determination of utility.

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Published
2019-12-31
How to Cite
Račić, Željko, Damjanac, S., Račić, K., & Milić, D. (2019). MULTI-ATTRIBUTE DECISION-MAKING METHODS–INDIFFERENCE ASSESSMENTS. Acta Economica, 17(31), 89-105. https://doi.org/10.7251/ACE1931089R
Section
Review article

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