Multicriteria Decision Making
Date/Time: Wednesday 13:00-14:30
Chair: James L. Bander
Chair Address: Univ. of MI, Dept. of Ind. & Op. Eng., 1205 Beal Ave., Ann Arbor, MI 48109-2140,
The Money Pump: When Not to Use Utility Models James L. Bander --- Univ. of MI, Dept. of Ind. & Op. Eng., 1205 Beal Ave., Ann Arbor, MI 48109-2140, (firstname.lastname@example.org)
- Utility and expectancy models were developed for normative modeling¨ of decision-making behavior, but they have been widely used for both¨ normative and descriptive purposes. The point of this presentation¨ is to raise questions about the appropriateness of utility and¨ expectancy models for descriptive modeling of human behavior.
New Developments in the Learning Phase of Interactive Procedures in MCDM Zaharias Xanthopulos, Emanuel Melachrinoudis, Marius Solomon --- Northeastern Univ., Dept. of Mech. Ind. & Mft. Eng, 360 Huntington Ave., Boston, MA 02115 , (email@example.com)
- It is well known that the first phase of an interactive procedure¨ should be a learning phase and familiarization of the decision maker¨ with the dynamics of the MCDM problem under consideration. We¨ present some prominent characteristics for MCDM problems and show¨ how to take advantage during the interactive procedure.
An AHP-Based Simulation Model for Determining the Entry Mode of Foreign Direct Investment Ke Wan, Reuven Levary --- St. Louis Univ., Sch. of Bus., St. Louis, MO 63108 , (firstname.lastname@example.org)
- The characteristics of the decision making process regarding foreign¨ direct investment are discussed. An AHP-based simulation model for¨ determining the entry mode of foreign direct investment is described¨ and a case study involving foreign direct investment in China¨ presented.