A multicriteria model's survey: State of the art and some necessary capabilities of future models

Pongpeng, J and Liston, J (2003) A multicriteria model's survey: State of the art and some necessary capabilities of future models. Construction Management and Economics, 21(7), pp. 665-670. ISSN 01446193

Abstract

To identify a state-of-the-art model and some necessary capabilities for developing future multicriteria models, the literature on multicriteria models in operations research was surveyed. All the models required subjective inputs from decision-makers. A utility function was regarded as the best model for including risk and uncertainty into the solution analysis. On the other hand, a social welfare function was found to be the most attractive in a democratic organization in handling the involvement of multiple decision-makers. Thus, a combination of both the functions can be described as state-of-the-art. In addition, the subjective inputs changed over time in relation to a particular circumstance. For this reason, computer interaction should be incorporated with this combination. Therefore, some capabilities of (1) incorporating subjective inputs of multiple decision-makers, (2) including elements of risk and uncertainty and (3) absorbing the changes of subjective inputs via computer interaction are necessary for future multicriteria models.

Item Type: Article
Uncontrolled Keywords: decision-making; multicriteria; multicriteria models; optimization
Date Deposited: 11 Apr 2025 14:46
Last Modified: 11 Apr 2025 14:46