Choice behavior in interactive multiple-criteria decision making |
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Authors: | Pekka Korhonen Herbert Moskowitz Jyrki Wallenius |
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Institution: | (1) Helsinki School of Economics and Business Administration, Helsinki, Finland;(2) Krannert Graduate School of Management, Purdue University, 47907 West Lafayette, IN, USA |
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Abstract: | Choice behavior in an interactive multiple-criteria decision making environment is examined experimentally. A free search discrete visual interactive reference direction approach was used on a microcomputer by management students to solve two realistic and relevant multiple-criteria decision problems. The results revealed persistent patterns of intransitive choice behavior, and an unexpectedly rapid degree of convergence of the reference direction approach on a preferred solution. The results can be explained using Tversky' 20] additive utility difference model and Kahneman-Tversky's 5] prospect theory. The implications of the results for the design of interactive multiple-criteria decision procedures are discussed. |
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