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Multi-objective Decision Analysis by Clinton W. Brownley

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CHAPTER 3

Value Functions and ­Preference Weights

It’s not hard to make decisions when you know what your values are.

–Roy Disney

Objectives define the issues that matter in a given decision context. The result of the objectives structuring process discussed in the previous chapter is a hierarchy of fundamental objectives and a list of associated evaluation measures that define the quantitative measurement scales for each of the objectives.1 Figure 3.1 shows an example of an objectives hierarchy and a list of associated evaluation measures.

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Figure 3.1. Example values, objectives, and evaluation measures for business decisions.

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