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Cumulative dominance and heuristic performance in binary multi-attribute choice
dc.contributor.author | Carrasco, Juan A. |
dc.contributor.author | Baucells, M |
dc.contributor.author | Hogarth, R M |
dc.contributor.other | Universitat Politècnica de Catalunya. Departament d'Enginyeria Electrònica |
dc.date.accessioned | 2014-12-03T10:18:01Z |
dc.date.available | 2014-12-03T10:18:01Z |
dc.date.created | 2005-09-01 |
dc.date.issued | 2005-09-01 |
dc.identifier.citation | Carrasco, J.; Baucells, M.; Hogarth, R. M. "Cumulative dominance and heuristic performance in binary multi-attribute choice". 2005. |
dc.identifier.uri | http://hdl.handle.net/2117/24906 |
dc.description | Working paper 895, Department of Economics and Business, Universitat Pompeu Fabra |
dc.description.abstract | Several studies have reported high performance of simple decision heuristics in multi-attribute decision making. In this paper, we focus on situations where attributes are binary and analyze the performance of Deterministic-Elimination-By-Aspects (DEBA) and similar decision heuristics. We consider non-increasing weights and two probabilistic models for the attribute values: one where attribute values are independent Bernoulli randomvariables; the other one where they are binary random variables with inter-attribute positive correlations. Using these models, we show that good performance of DEBA is explained by the presence of cumulative as opposed to simple dominance. We therefore introduce the concepts of cumulative dominance compliance and fully cumulative dominance compliance and show that DEBA satisfies those properties. We derive a lower bound with which cumulative dominance compliant heuristics will choose a best alternative and show that, even with many attributes, this is not small. We also derive an upper bound for the expected loss of fully cumulative compliance heuristics and show that this is moderate even when the number of attributes is large. Both bounds are independent of the values of the weights. |
dc.format.extent | 32 p. |
dc.language.iso | eng |
dc.subject | Àrees temàtiques de la UPC::Matemàtiques i estadística::Investigació operativa |
dc.subject.lcsh | Multiple criteria decision making |
dc.subject.other | Multi-attribute decision making. Binary attributes. DEBA. Cumulative dominance. Performance bounds. |
dc.title | Cumulative dominance and heuristic performance in binary multi-attribute choice |
dc.type | External research report |
dc.subject.lemac | Decisió multicriteri, Presa de |
dc.contributor.group | Universitat Politècnica de Catalunya. QINE - Disseny de Baix Consum, Test, Verificació i Circuits Integrats de Seguretat |
dc.relation.publisherversion | http://www.econ.upf.edu/en/research/onepaper.php?id=895 |
dc.rights.access | Open Access |
local.identifier.drac | 15291404 |
dc.description.version | Postprint (author’s final draft) |
local.citation.author | Carrasco, J.; Baucells, M.; Hogarth, R. M. |
local.citation.publicationName | Cumulative dominance and heuristic performance in binary multi-attribute choice |
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