Operations Research, Systems Engineering and Industrial Engineering Commons^™

Value-Focused Thinking In The Presence Of Weight Ambiguity: A Solution Technique Using Monte Carlo Simulation, Timothy W. Porter

Theses and Dissertations

When a Decision Maker is asked to provide his or her preferences, the response represents a snapshot in time. While their preference structure elicited at any given moment may represent their revealed preferences at that point in time, it may change over time. These changing preferences over time represent ambiguity in the decision maker's preferences. Other sources of ambiguity may exist. One weakness of many decision analysis techniques today is the inability to incorporate ambiguity into the basic decision model. The existence of the problem has been known and commented on for many years. This research addresses that problem. It …