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Decision Quality Using Ranked Attribute Weights

Author

Listed:
  • F. Hutton Barron

    (Department of Management Science and Statistics, College of Commerce and Business Administration, University of Alabama, Tuscaloosa, Alabama 35487-0226)

  • Bruce E. Barrett

    (Department of Management Science and Statistics, College of Commerce and Business Administration, University of Alabama, Tuscaloosa, Alabama 35487-0226)

Abstract

Three published approximation formulae for selecting the best multiattribute alternative based on rank-ordered weights are evaluated. All formulae are surprisingly efficacious in determining the best multiattribute alternative. Rank order centroid (ROC) weights are more accurate than the other rank-based formulae; furthermore, the ROC formula generalizes to incorporate both other forms of partial information about attribute weights and partial rank order information as well. Because a ROC-based analysis is so straightforward and efficacious, it provides an appropriate implementation tool.

Suggested Citation

  • F. Hutton Barron & Bruce E. Barrett, 1996. "Decision Quality Using Ranked Attribute Weights," Management Science, INFORMS, vol. 42(11), pages 1515-1523, November.
    • Handle: RePEc:inm:ormnsc:v:42:y:1996:i:11:p:1515-1523
    DOI: 10.1287/mnsc.42.11.1515
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