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The Impact of Decision-Making Profiles on the Consistency of Rankings Obtained by Means of Selected Multiple Criteria Decision-Aiding Methods

Author

Listed:
  • Roszkowska Ewa

    (University of Bialystok, Bialystok, Poland)

  • Wachowicz Tomasz

    (University of Economics in Katowice, Katowice, Poland)

Abstract

The paper discusses the impact of the decision-making profiles on the consistency of rankings obtained by three multiple criteria methods, i.e. DR, AHP and TOPSIS. The online decision making experiment was organized, based on an electronic questionnaire which is a hybrid of the internet survey system and the decision support system. The participants of the experiment were 418 students of Polish universities. To describe the decision-making profile, the REI test was used which allows to distinguish two decision-making styles: rational and intuitive. The Kendall rank correlation coefficient was used to test the consistency of the rankings obtained by the considered methods. Using different grouping methods, the relationship between the decision profile and the ability to express one’s preferences by means of these methods, that differ in cognitive requirements, was examined. The results of the research may be helpful for supporting the decision-maker in decision processes by choosing the method that fits their profile best.

Suggested Citation

  • Roszkowska Ewa & Wachowicz Tomasz, 2019. "The Impact of Decision-Making Profiles on the Consistency of Rankings Obtained by Means of Selected Multiple Criteria Decision-Aiding Methods," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 23(2), pages 1-14, June.
    • Handle: RePEc:vrs:eaiada:v:23:y:2019:i:2:p:1-14:n:1
    DOI: 10.15611/eada.2019.2.01
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    References listed on IDEAS

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    More about this item

    Keywords

    decision support; decision-making profile; multiple criteria decision aiding; preference analysis; data analysis;
    All these keywords.

    JEL classification:

    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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