Multi-objective Decision Analysis

Multiple Objectives and Uncertainty

This chapter brings together and extends the material from the preceding chapters and shows how to conduct a multiobjective decision analysis under uncertainty using a spreadsheet. Chapter 3 discussed how to use single-dimensional value functions to conduct multiobjective decision analyses under certainty. Chapters 4 and 5 discussed uncertainty and utility and how to use certainty equivalents to evaluate alternatives with uncertain outcomes. To address both multiple objectives and uncertainty, this chapter extends the procedures discussed in Chapter 3 to incorporate the techniques for dealing with uncertainty and risk aversion presented in Chapters 4 and 5.

In this chapter, the product features decision analysis ...