Analysis of decision maker preferences

Abstract

Decision making is required daily in our lives, whether it be selecting produce at the grocery store, deciding where to live or work, or designing a weapon system for military applications. Most decisions require the Decision Maker (OM) to examine multiple alternatives which most typically are defined by multiple, conflicting criteria. The objective is to select the alternative which minimizes the tradeoffs between attribute levels in order to determine which alternative is "best". This selection of "best" is based on the subjective viewpoint of the DM, that is, the DM's values and preferences directly influence his or her final alternative selection. A comprehensive analysis of the preferences of the OM in order to systematically structure a decision problem should invariably assist the OM in making the "best" choice from the list of available alternatives. This comprehensive analysis of decision maker preferences is the subject of this project/report.