Maximizing Consensus in Portfolio Selection in Multicriteria Group Decision Making

Date

2016-10-04

Advisors

Journal Title

Journal ISSN

ISSN

Volume Title

Publisher

Elsevier

Type

Article

Peer reviewed

Yes

Abstract

This paper deals with a scenario of decision making where a moderator selects a (sub)set (aka portfolio) of decision alternatives from a larger set. The larger the number of decision makers who agree on a solution in the portfolio the more successful the moderator is. We assume that decision makers decide independently from each other but indicate their preferences with respect to different objectives in terms of desirability functions, which can be interpreted as cumulative (probability) density functions. A procedure to select a solution with maximal expected number of decision makers that accept it is provided. Moreover, this is generalized to sets of solutions. An algorithm for computing and maximizing the expected number of decision makers that can agree on at least one solution in a subset of decision alternatives is developed. Computational aspects, as well as practical examples for using this for item selection from a database will be discussed.

Description

Open Access article

Keywords

Citation

Emmerich, M. et al. (2016) Maximizing Consensus in Portfolio Selection in Multicriteria Group Decision Making. Procedia Computer Science, 100, pp. 848-855

Rights

Research Institute

Cyber Technology Institute (CTI)