Solving the discrete multiple criteria problem using linear prospect theory
European Journal of Operational ResearchPublished 1 January 1994
Pekka Salminen
Citations27
SJR quartileQ1
SJR score2.24
SNIP2.62
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Abstract
Prospect theory developed by Kahneman and Tversky is a popular model of choice in decision problems under uncertainty. Prospect theory has recently been extended to multiple criteria choice problems. In this paper, an interactive method for solving discrete multiple criteria decision problems, based on prospect theory type value functions, has been developed. Piecewise linear marginal value functions are assumed to approximate the S-shaped value functions of prospect theory. Therefore, the proposed procedure is valid only for convex preferences.
Keywords
Computer ScienceDecision Sciences
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