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Assigning a value difference function for group decision making

Author

Listed:
  • Laura Plazola Zamora

    (Universidad de Guadalajara)

  • Salvador Sandoval Bravo

    (Universidad de Guadalajara)

  • Jaime Mora Vargas

    (Tecnologico de Monterrey)

Abstract

In this paper we propose a procedure to determine an individual preference aggregation. The procedure is based on the concept of second order preferences. If the preference strength of each group member can be modeled with an additive value difference function, then the influence of each individual in the decision of the group is approximately proportional to the value difference between the best and the worst alternative. The problem of finding a value difference function, which represents a known preference of the possible rankings of the set of alternatives, is solved as a linear programming problem. An implementation of the procedure has been developed with the Delphi programming environment.

Suggested Citation

  • Laura Plazola Zamora & Salvador Sandoval Bravo & Jaime Mora Vargas, 2014. "Assigning a value difference function for group decision making," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 11(2), pages 148-169, Julio-Dic.
    • Handle: RePEc:qua:journl:v:11:y:2014:i:2:p:148-169
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    More about this item

    Keywords

    group decision; value difference function; additive value function; decision support system.;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory

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