IDEAS home Printed from https://ideas.repec.org/a/kap/theord/v65y2008i1p45-70.html
   My bibliography  Save this article

A Parallel between Regret Theory and Outranking Methods for Multicriteria Decision Making Under Imprecise Information

Author

Listed:
  • Gül Özerol
  • Esra Karasakal

Abstract

No abstract is available for this item.

Suggested Citation

  • Gül Özerol & Esra Karasakal, 2008. "A Parallel between Regret Theory and Outranking Methods for Multicriteria Decision Making Under Imprecise Information," Theory and Decision, Springer, vol. 65(1), pages 45-70, August.
  • Handle: RePEc:kap:theord:v:65:y:2008:i:1:p:45-70
    DOI: 10.1007/s11238-007-9074-y
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11238-007-9074-y
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1007/s11238-007-9074-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    2. Zeelenberg, Marcel & Pieters, Rik, 2004. "Consequences of regret aversion in real life: The case of the Dutch postcode lottery," Organizational Behavior and Human Decision Processes, Elsevier, vol. 93(2), pages 155-168, March.
    3. Mary Acker, 1997. "Tempered Regrets Under Total Ignorance," Theory and Decision, Springer, vol. 42(3), pages 207-213, May.
    4. Connolly, Terry & Ordonatez, Lisa D. & Coughlan, Richard, 1997. "Regret and Responsibility in the Evaluation of Decision Outcomes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 70(1), pages 73-85, April.
    5. Sugden Robert, 1993. "An Axiomatic Foundation for Regret Theory," Journal of Economic Theory, Elsevier, vol. 60(1), pages 159-180, June.
    6. Carrizosa, E. & Conde, E. & Fernandez, F. R. & Puerto, J., 1995. "Multi-criteria analysis with partial information about the weighting coefficients," European Journal of Operational Research, Elsevier, vol. 81(2), pages 291-301, March.
    7. Sam Park, Kyung & Sang Lee, Kyung & Seong Eum, Yun & Park, Kwangtae, 2001. "Extended methods for identifying dominance and potential optimality in multi-criteria analysis with imprecise information," European Journal of Operational Research, Elsevier, vol. 134(3), pages 557-563, November.
    8. J. Jeffrey Inman & James S. Dyer & Jianmin Jia, 1997. "A Generalized Utility Model of Disappointment and Regret Effects on Post-Choice Valuation," Marketing Science, INFORMS, vol. 16(2), pages 97-111.
    9. M. Weber, 1985. "A Method of Multiattribute Decision Making with Incomplete Information," Management Science, INFORMS, vol. 31(11), pages 1365-1371, November.
    10. Marmol, Amparo M. & Puerto, Justo & Fernandez, Francisco R., 2002. "Sequential incorporation of imprecise information in multiple criteria decision processes," European Journal of Operational Research, Elsevier, vol. 137(1), pages 123-133, February.
    11. Ahn, Byeong Seok & Sam Park, Kyung & Hee Han, Chang & Kyeong Kim, Jae, 2000. "Multi-attribute decision aid under incomplete information and hierarchical structure," European Journal of Operational Research, Elsevier, vol. 125(2), pages 431-439, September.
    12. Tsiros, Michael & Mittal, Vikas, 2000. "Regret: A Model of Its Antecedents and Consequences in Consumer Decision Making," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 26(4), pages 401-417, March.
    13. Loomes, Graham & Sugden, Robert, 1987. "Some implications of a more general form of regret theory," Journal of Economic Theory, Elsevier, vol. 41(2), pages 270-287, April.
    14. David E. Bell, 1982. "Regret in Decision Making under Uncertainty," Operations Research, INFORMS, vol. 30(5), pages 961-981, October.
    15. Mareschal, Bertrand & Brans, Jean-Pierre, 1988. "Geometrical representations for MCDA," European Journal of Operational Research, Elsevier, vol. 34(1), pages 69-77, February.
    16. Tsiros, Michael, 1998. "Effect of Regret on Post-choice Valuation: The Case of More Than Two Alternatives," Organizational Behavior and Human Decision Processes, Elsevier, vol. 76(1), pages 48-69, October.
    17. Miettinen, Kaisa & Salminen, Pekka, 1999. "Decision-aid for discrete multiple criteria decision making problems with imprecise data," European Journal of Operational Research, Elsevier, vol. 119(1), pages 50-60, November.
    18. Park, Kyung Sam & Kim, Soung Hie, 1997. "Tools for interactive multiattribute decisionmaking with incompletely identified information," European Journal of Operational Research, Elsevier, vol. 98(1), pages 111-123, April.
    19. Zeelenberg, M. & Pieters, R., 2004. "Consequences of regret aversion in real life : The case of the Dutch postcode lottery," Other publications TiSEM d16cb90a-f96c-4fce-b4c7-4, Tilburg University, School of Economics and Management.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2019. "The Ordinal Input for Cardinal Output Approach of Non-compensatory Composite Indicators: The PROMETHEE Scoring Method," MPRA Paper 95816, University Library of Munich, Germany.
    2. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2021. "The ordinal input for cardinal output approach of non-compensatory composite indicators: the PROMETHEE scoring method," European Journal of Operational Research, Elsevier, vol. 288(1), pages 225-246.
    3. Adiel Teixeira Almeida & Eduarda Asfora Frej & Lucia Reis Peixoto Roselli, 2021. "Combining holistic and decomposition paradigms in preference modeling with the flexibility of FITradeoff," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(1), pages 7-47, March.
    4. Terry Connolly & Jochen Reb, 2012. "Regret aversion in reason-based choice," Theory and Decision, Springer, vol. 73(1), pages 35-51, July.
    5. Lucia Reis Peixoto Roselli & Adiel Teixeira Almeida, 2022. "Use of the Alpha-Theta Diagram as a decision neuroscience tool for analyzing holistic evaluation in decision making," Annals of Operations Research, Springer, vol. 312(2), pages 1197-1219, May.
    6. Behzadian, Majid & Kazemzadeh, R.B. & Albadvi, A. & Aghdasi, M., 2010. "PROMETHEE: A comprehensive literature review on methodologies and applications," European Journal of Operational Research, Elsevier, vol. 200(1), pages 198-215, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. G Özerol & E Karasakal, 2008. "Interactive outranking approaches for multicriteria decision-making problems with imprecise information," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 59(9), pages 1253-1268, September.
    2. Krähmer, Daniel & Stone, Rebecca, 2005. "Regret in Dynamic Decision Problems," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 71, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    3. van Dijk, Eric & Zeelenberg, Marcel, 2005. "On the psychology of `if only': Regret and the comparison between factual and counterfactual outcomes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 97(2), pages 152-160, July.
    4. George, Jennifer M. & Dane, Erik, 2016. "Affect, emotion, and decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 136(C), pages 47-55.
    5. Patricia H. Born & E. Tice Sirmans, 2019. "Regret in health insurance post‐purchase behavior," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(2), pages 207-219, July.
    6. Carlin, Bruce I. & Robinson, David T., 2009. "Fear and loathing in Las Vegas: Evidence from blackjack tables," Judgment and Decision Making, Cambridge University Press, vol. 4(5), pages 385-396, August.
    7. Davvetas, Vasileios & Diamantopoulos, Adamantios, 2017. "“Regretting your brand-self?” The moderating role of consumer-brand identification on consumer responses to purchase regret," Journal of Business Research, Elsevier, vol. 80(C), pages 218-227.
    8. Bonanno, Giacomo, 2022. "Minimax regret with imperfect ex-post knowledge of the state," Research in Economics, Elsevier, vol. 76(4), pages 403-412.
    9. Reb, Jochen, 2008. "Regret aversion and decision process quality: Effects of regret salience on decision process carefulness," Organizational Behavior and Human Decision Processes, Elsevier, vol. 105(2), pages 169-182, March.
    10. Terry Connolly & David Butler, 2002. "Searching for the "Regret" in "Regret Theory"," Economics Discussion / Working Papers 02-04, The University of Western Australia, Department of Economics.
    11. Fujii, Yoichiro & Okura, Mahito & Osaki, Yusuke, 2021. "Is insurance normal or inferior? -A regret theoretical approach-," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
    12. Zeelenberg, Marcel & van Dijk, Wilco W. & Manstead, Antony S. R., 2000. "Regret and Responsibility Resolved? Evaluating Ordonez and Connolly's (2000) Conclusions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 81(1), pages 143-154, January.
    13. Hoelzl, Erik & Loewenstein, George, 2005. "Wearing out your shoes to prevent someone else from stepping into them: Anticipated regret and social takeover in sequential decisions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 98(1), pages 15-27, September.
    14. repec:dau:papers:123456789/4260 is not listed on IDEAS
    15. Kang, Young Sik & Min, Jinyoung & Kim, Jeoungkun & Lee, Heeseok, 2013. "Roles of alternative and self-oriented perspectives in the context of the continued use of social network sites," International Journal of Information Management, Elsevier, vol. 33(3), pages 496-511.
    16. Lim, Jooyoung & Hahn, Minhi, 2020. "Regulatory focus and decision rules: Are prevention-focused consumers regret minimizers?," Journal of Business Research, Elsevier, vol. 120(C), pages 343-350.
    17. Jhunjhunwala, Tanushree, 2021. "Searching to avoid regret: An experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 298-319.
    18. , & ,, 2011. "Transitive regret," Theoretical Economics, Econometric Society, vol. 6(1), January.
    19. Kobi Kriesler & Shmuel Nitzan, 2009. "Framing-based Choice: A Model of Decision-making Under Risk," Korean Economic Review, Korean Economic Association, vol. 25, pages 65-89.
    20. Gollier, Christian, 2016. "Explaining rank-dependent utility with regret and rejoicing," IDEI Working Papers 863, Institut d'Économie Industrielle (IDEI), Toulouse.
    21. Javad Nasiry & Ioana Popescu, 2012. "Advance Selling When Consumers Regret," Management Science, INFORMS, vol. 58(6), pages 1160-1177, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:theord:v:65:y:2008:i:1:p:45-70. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.