Multicriteria value measurement

Question 1

What is the first step when defining a multicriteria problem?

Answer 1

Define options: Screening

Islands too far from Maui

Question 2

What is the second step when defining a multicriteria problem?

Answer 2

Define criteria

(Good snorkling, Spectacular scenery, Remote beaches, Fair flight price, Short travel time.

Question 3

How does an additive value model work?

Answer 3

Sum up overall values of option a. v_j(a) =Score of option a in terms of criterion j. k_j= scaling constant (relative weight). V(a)=sum(k_jv_j(a))

Question 4

What is the range of the weight in additive value model?

Answer 4

k_j>0

sum(k_j)=1

Question 5

What are the numerical approches for scoring the options?

Answer 5

Direct rating, ration estimation, category estimation, curve drawing. They are presented on a anchored scale.

Question 6

What is bisection techniques?

Answer 6

A most preferred stimulus and a least preferred stimulus are identified, subsequently a midpoint stimulus is found that is equidistant from both extremes.

Question 7

What is MACBETH?

Answer 7

An interactive approach to quide the construction of an interval value svales based on qualitative value judgements.

Question 8

How does swing weighing procedure work?

Answer 8

The swing procedure starts from an alternative with the worst impacts in all the criteria. How much is the difference and how much do you care about it? Rate that.

Question 9

What is the tradeoff procedure?

Answer 9

The key idea is to compare two options described on two criteria. One option has the best impact on the first and the worst impact on the second criterion, The other has the worst on the first and the best on the second, By choosing the preferred option the chooser chooses the most important criterion.