multi-attribute decision making

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Decisions made from sets of alternatives that vary on a number of attributes, aspects, or criteria. Familiar examples include choosing a house by comparing alternatives according to price, location, and number of rooms; selecting a marriage partner by comparing suitors on attributes such as physical attractiveness, intelligence, and sense of humour; and hiring an employee by comparing candidates on various qualifications. According to the standard linear additive value-maximization model, the decision maker simply weights the attributes according to their perceived importance, then sums the weights, then finally chooses the alternative with the highest aggregate weight; but there is evidence to suggest that human decision makers do not always behave according to this model. Also called multi-attribute choice or multiple-criteria decision making or choice. See elimination by aspects, lexicographic choice, lexicographic semiorder. MADM abbrev.

Subjects: Psychology.

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