Decisionmaking among Multiple-Attribute Alternatives: A Survey and Consolidated Approach

Abstract

Abstract : A description and evaluation is made of several existing methods designed to help decision-makers deal with the multiple-decision problem. In all types of decision situations, the alternatives from which a choice must be made are characterized by multiple attributes (or properties). As the number of relevant attributes and alternatives increases, the ability of the decisionmaker to handle the problem decreases, and the information-processing requirements may rapidly exceed the decisionmaker's processing capacity. Methods to deal with this problem include Dominance, Satisficing, Maximin, Minimax, Lexicography, Additive Weighting, Effectiveness Index, Utility Theory, Tradeoffs, and Nonmetric Scaling. Similarities and differences in the various approaches are demonstrated by a simplified weapon system-selection problem.

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