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Creating Multi-Objective Value Functions from Non-Independent Values

Language EnglishEnglish
Book Paperback
Book Creating Multi-Objective Value Functions from Non-Independent Values Richards
Libristo code: 08242671
Publishers Biblioscholar, November 2012
Decisions are made every day and by everyone. As these decisions become more important, involve high... Full description
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Decisions are made every day and by everyone. As these decisions become more important, involve higher costs and affect a broader group of stakeholders it becomes essential to establish a more rigorous strategy than simply intuition or "going with your gut". In the past several decades, the concept of Value Focused Thinking (VFT) has gained much acclaim in assisting Decision Makers (DMs) in this very effort. By identifying and organizing what a DM values VFT is able to decompose the original problem and create a mathematical model to score and rank alternatives to be chosen. But what if the decision should not be completely decomposed? What if there are factors that are inextricably linked rather than independent? In the past several years, Improvised Explosive Devices (IEDs) have quickly become the number one killer of American troops overseas. To this end the Joint IED Defeat Organization worked to create a VFT model to solicit and grade countermeasure proposals as candidates for funding. While much time and care was put into soliciting a valid VFT hierarchy from the appropriate DM, it does not represent the only option. With JIEDDO as an example this paper examines a strategy to better reflect a DM's combined values in a way which is understandable to the DM and maintains a level of mathematical rigor.

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About the book

Full name Creating Multi-Objective Value Functions from Non-Independent Values
Language English
Binding Book - Paperback
Date of issue 2012
Number of pages 104
EAN 9781288307661
ISBN 9781288307661
Libristo code 08242671
Publishers Biblioscholar
Weight 200
Dimensions 189 x 246 x 6
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