Extensions of the prudence principle to exploit a valued outranking relation |
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Authors: | Luis C Dias Claude Lamboray |
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Institution: | 1. INESC Coimbra and Faculdade de Economia da Universidade de Coimbra, Av Dias da Silva 165, 3004-512 Coimbra, Portugal;2. CoDE (Computer and Decision Engineering), Université Libre de Bruxelles, C.P.210/01, Boulevard du Triomphe, B-1050 Brussels, Belgium |
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Abstract: | In many outranking methods, the alternatives are first compared pairwise to build a valued outranking relation, which is then exploited to derive a recommendation for the decision maker. This paper proposes extensions of Arrow and Raynaud’s prudence principle to exploit a valued outranking relation, even in cases where the outranking values have an ordinal interpretation. The idea is to build a ranking that maximizes the weakest support for its implicit pairwise comparisons. We present a family of exploitation models providing three types of solutions, depending on the decision maker’s request: a linear order, a weak order, or a partial preorder. An algorithm is provided which solves the exploitation models. Relations between these models and some of their properties are also discussed. |
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Keywords: | Multi-criteria decision aid Outranking relations Ranking problem Prudence principle Prudent orders Max&ndash min |
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