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Paper Information

Journal:   JOURNAL OF OPERATIONAL RESEARCH AND ITS APPLICATIONS (JOURNAL OF APPLIED MATHEMATICS)   WINTER 2016 , Volume 12 , Number 4 (47); Page(s) 15 To 28.
 
Paper: 

COMPARISON BETWEEN RESULTS OF THE DIRECT EXTRACTION UTILITY FUNCTION AND ITS APPROXIMATE LINEAR ESTIMATES IN SOLVING MULTI-CRITERIA DECISION MODELS CASE STUDY: TYPE OF BUILDING STRUCTURES

 
 
Author(s):  HOSEINI Z.*, KAZEMI M.
 
* DEPARTMENT OF MANAGEMENT OPERATIONAL RESEARCH, FERDOWSI UNIVERSITY OF MASHHAD, MASHHAD, IRAN
 
Abstract: 

Using the utility function is one of the oldest techniques for ranking alternatives in multiple attribute decision making problems. Due to the complexity in calculating the utility function, most studies have used linear approximations to estimate the single-attribute utility functions and weighted average them to integrate and achieve overall utility options. While the use of these forms is subject to acceptance of assumptions such as "Risk neutral" that are not consistent with the facts. Especially certain economic conditions such as boom or recession intensified this incompatibility. In this paper, a decision matrix rank options in order to achieve the appropriate structures in a construction project has been done. The utility function is calculated with the two approaches; using linear approximation and the direct extraction utility function of each option. The results showed significant differences between the ratings generated based on each approach.

 
Keyword(s): MULTI CRITERIA DECISION MAKING, MULTI ATTRIBUTE UTILITY FUNCTION
 
References: 
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