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On (Measurable) Multiattribute Value Functions: An Expository Argument

Author

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  • James E. Smith

    (Tuck School of Business, Dartmouth College, Hanover, New Hampshire 03755)

  • James S. Dyer

    (McCombs School of Business, The University of Texas at Austin, Austin, Texas 78712)

Abstract

In this note, we provide an easy-to-understand introduction to strength-of-preference measures in the context of deterministic multiattribute value assessments, focusing on what they are and why they matter. Though these issues are well understood by some decision analysts, we believe that many do not understand or appreciate the role of strength-of-preference assumptions when assessing or interpreting multiattribute value functions. The note is structured around an argument between the two authors that took place when reviewing applications of multiattribute value functions.

Suggested Citation

  • James E. Smith & James S. Dyer, 2021. "On (Measurable) Multiattribute Value Functions: An Expository Argument," Decision Analysis, INFORMS, vol. 18(4), pages 247-256, December.
    • Handle: RePEc:inm:ordeca:v:18:y:2021:i:4:p:247-256
    DOI: 10.1287/deca.2021.0435
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    References listed on IDEAS

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    Cited by:

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    3. Bana e Costa, Carlos A. & Oliveira, Mónica D. & Rodrigues, Teresa C. & Vieira, Ana C.L., 2023. "Desirability–doability group judgment framework for the collaborative multicriteria evaluation of public policies," LSE Research Online Documents on Economics 118192, London School of Economics and Political Science, LSE Library.
    4. Florian Methling & Steffen A. Borden & Deepak Veeraraghavan & Insa Sommer & Johannes Ulrich Siebert & Rüdiger von Nitzsch & Mark Seidler, 2022. "Supporting Innovation in Early-Stage Pharmaceutical Development Decisions," Decision Analysis, INFORMS, vol. 19(4), pages 337-353, December.

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    Keywords

    multiattribute value theory;

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