| Full text | |
| Author(s): |
Total Authors: 2
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| Affiliation: | [1] Univ Sao Paulo, Sao Paulo - Brazil
[2] Ibmec RJ, Rio De Janeiro - Brazil
Total Affiliations: 2
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| Document type: | Journal article |
| Source: | INDEPENDENT JOURNAL OF MANAGEMENT & PRODUCTION; v. 12, n. 7, p. 1935-1947, SEP-OCT 2021. |
| Web of Science Citations: | 0 |
| Abstract | |
Prospect Theory provides a broad and solid frame of reference for modeling the decision making of rational agents. In the early 1990s, the structure of Prospect Theory was used to propose a method to aid a multicriteria decision based on the process of paired comparison. The research reported in this article has empirically assessed the adherence of the mathematical model of the original TODIM method, together with its variations available in the literature, to Prospect Theory and compared them with a multicriteria method that does not use that theory. From a comparative analysis, it was realized that the different variations of the TODIM method regarding the incorporation of Prospect Theory's rationality within the context of Multicriteria Decision Aid still do not bring the benefits of an already consolidated theory to the context of decision making aid. Thus, it is suggested that further studies be conducted to improve the adherence of Prospect Theory within the structure of the TODIM method, so that the benefits of a consolidated theory of decision lead to better results, notably from the perspective of using the method for the purposes of forecast. (AU) | |
| FAPESP's process: | 16/03722-5 - Structural development for the use of Game Theory in organizational group multicriteria decision making problem solving |
| Grantee: | Alexandre Bevilacqua Leoneti |
| Support Opportunities: | Regular Research Grants |