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Cumulative dominance and heuristic performance in binary multi-attribute choice

Mostra el registre parcial de l'element Baucells, Manel Carrasco, Juan A. Hogarth, Robin
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa 2017-07-26T10:50:46Z 2017-07-26T10:50:46Z 2005-09-01
dc.identifier.citation Operations Research, 56 (5), 1289-1304, 2008
dc.description.abstract Several studies have reported high performance of simple decision heuristics multi-attribute decision making. In this paper, we focus on situations where attributes are binary and analyze the performance of Deterministic-Elimination-By-Aspects (DEBA) and similar decision heuristics. We consider non-increasing weights and two probabilistic models for the attribute values: one where attribute values are independent Bernoulli randomvariables; the other one where they are binary random variables with inter-attribute positive correlations. Using these models, we show that good performance of DEBA is explained by the presence of cumulative as opposed to simple dominance. We therefore introduce the concepts of cumulative dominance compliance and fully cumulative dominance compliance and show that DEBA satisfies those properties. We derive a lower bound with which cumulative dominance compliant heuristics will choose a best alternative and show that, even with many attributes, this is not small. We also derive an upper bound for the expected loss of fully cumulative compliance heuristics and show that this is moderate even when the number of attributes is large. Both bounds are independent of the values of the weights.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 895
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.title Cumulative dominance and heuristic performance in binary multi-attribute choice
dc.type info:eu-repo/semantics/workingPaper 2017-07-23T02:09:56Z
dc.subject.keyword multi-attribute decision making
dc.subject.keyword binary attributes
dc.subject.keyword deba
dc.subject.keyword cumulative dominance
dc.subject.keyword performance bounds
dc.subject.keyword leex
dc.subject.keyword Management and Organization Studies
dc.rights.accessRights info:eu-repo/semantics/openAccess

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