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Group decision making with incomplete information: a dominance and quasi‐optimality volume‐based approach using Monte‐Carlo simulation
Author(s) -
Sarabando Paula,
Dias Luis C.,
Vetschera Rudolf
Publication year - 2019
Publication title -
international transactions in operational research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.032
H-Index - 52
eISSN - 1475-3995
pISSN - 0969-6016
DOI - 10.1111/itor.12315
Subject(s) - ranking (information retrieval) , preference , probabilistic logic , computer science , group (periodic table) , dominance (genetics) , group decision making , mathematical optimization , space (punctuation) , monte carlo method , stochastic dominance , complete information , mathematics , mathematical economics , machine learning , statistics , artificial intelligence , psychology , social psychology , biochemistry , chemistry , organic chemistry , gene , operating system
In this paper, we present a comprehensive framework for multiattribute group decision making considering that neither information about individual preferences nor the importance of individual decision makers for the group is available in exact form. We study several different forms of incomplete preference information, including a ranking of attribute weights, ranking of values of alternatives in each attribute, and ranking of value differences. Our approach is based on relative volumes in parameter space and allows for probabilistic statements about different results, including optimality or quasi‐optimality of alternatives, or relations between alternatives.