Rethinking value elicitation for personal consequential decisions

Abstract

The application of multiattribute decision analysis to personal consequential decision problems can be unhelpful particularly where the analysis fails to help the decision maker to discover new values, or where the decision maker is unable to visualize the experience that may result from choosing a particular course of action. We concur with James March that values are best discovered by the act of choosing and experimenting but acknowledge that the act of choice can lead to irreversible consequences. Both of these problems suggest that techniques which assist the decision maker to envisage the consequences of choice need to be developed and incorporated into the modelling process. We suggest some forms that these techniques might take. Copyright © 1999 John Wiley & Sons, Ltd.

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