Key Points
• Linear, piecewise linear, and exponential single-dimensional value functions convert discrete and continuous evaluation measure scales into value scales. Unlike evaluation measurement scales, value scales all have the “same unit and range.” This characteristic of value scales makes it possible to combine the value scores in a meaningful way to determine the overall value of each of the alternatives.
• Preference weights are weighting factors that are applied to each of the evaluation measures to address the different ranges of variation in the evaluation measures and to address the different degrees of importance the decision maker attaches to the ranges of variation.
• Once the single-dimensional value functions and preference ...
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