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The Analytic Hierarchy Process and the Theory of Measurement

  • Michele Bernasconi

    ()

    (Department of Economics, University Of Venice C� Foscari)

  • Christine Choirat

    (Department of Quantitative Methods, School of Economics and Business Management, Universidad de Navarra.)

  • Raffaello Seri

    (Dipartimento di Economia, Universit� dell'Insubria.)

The Analytic Hierarchy Process (Saaty 1977, 1980) is a decision-making procedure for establishing priorities in multi-criteria decision making. Underlying the AHP is the theory of ratio-scale measures developed by psychophysicist Stanley S. Stevens (1946, 1951) in the middle of the last century. It is however well-known that Stevens' original model was flawed in various respects. We reconsider the AHP at the light of the modern theory of measurement based on the so-called separable representations (Narens 1996, Luce 2002). We provide various theoretical and empirical results on the extent to which the AHP can be considered a reliable decision-making procedure in terms of the modern theory of subjective measurement.

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Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2009_24.

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Length: 34
Date of creation: 2009
Date of revision:
Handle: RePEc:ven:wpaper:2009_24
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  1. Saaty, Thomas L., 2003. "Decision-making with the AHP: Why is the principal eigenvector necessary," European Journal of Operational Research, Elsevier, vol. 145(1), pages 85-91, February.
  2. Thomas L. Saaty, 1990. "An Exposition of the AHP in Reply to the Paper "Remarks on the Analytic Hierarchy Process"," Management Science, INFORMS, vol. 36(3), pages 259-268, March.
  3. James E. Smith & Detlof von Winterfeldt, 2004. "Anniversary Article: Decision Analysis in Management Science," Management Science, INFORMS, vol. 50(5), pages 561-574, May.
  4. Zahedi, Fatemeh, 1986. "A simulation study of estimation methods in the analytic hierarchy process," Socio-Economic Planning Sciences, Elsevier, vol. 20(6), pages 347-354.
  5. Han Bleichrodt & Jose Luis Pinto & Peter P. Wakker, 2001. "Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility," Management Science, INFORMS, vol. 47(11), pages 1498-1514, November.
  6. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
  7. James S. Dyer, 1990. "Remarks on the Analytic Hierarchy Process," Management Science, INFORMS, vol. 36(3), pages 249-258, March.
  8. Thomas L. Saaty, 1986. "Axiomatic Foundation of the Analytic Hierarchy Process," Management Science, INFORMS, vol. 32(7), pages 841-855, July.
  9. James S. Dyer, 1990. "A Clarification of "Remarks on the Analytic Hierarchy Process"," Management Science, INFORMS, vol. 36(3), pages 274-275, March.
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