The paper concerns multicriteria decision making under uncertainty with scenario planning. This topic is explored by many researchers because almost all real-world decision problems have multiple conflicting criteria and a deterministic criteria evaluation is often impossible (e.g. mergers and acquisitions, new product development). We propose two procedures for uncertain multi-objective optimization (for dependent and independent criteria matrices) which are based on the SAPO method – a modification of the Hurwicz’s rule for one-criterion problems, recently presented in another paper. The new approaches take into account the decision maker’s preference structure and attitude towards risk. It considers the frequency and the level of extreme evaluations and generates logic rankings for symmetric and asymmetric distributions. The application of the suggested tool is illustrated with an example of marketing strategies selection.
Gaspars-Wieloch, H. (2014). The use of a modification of the Hurwicz’s decision rule in multicriteria decision making under complete uncertainty. Business, Management and Economics Engineering, 12(2), 283-302. https://doi.org/10.3846/bme.2014.242
Authors who publish with this journal agree to the following terms
that this article contains no violation of any existing copyright or other third party right or any material of a libelous, confidential, or otherwise unlawful nature, and that I will indemnify and keep indemnified the Editor and THE PUBLISHER against all claims and expenses (including legal costs and expenses) arising from any breach of this warranty and the other warranties on my behalf in this agreement;
that I have obtained permission for and acknowledged the source of any illustrations, diagrams or other material included in the article of which I am not the copyright owner.
on behalf of any co-authors, I agree to this work being published in Business, Management and Education journal as Open Access, and licenced under a Creative Commons Licence, 4.0 https://creativecommons.org/licenses/by/4.0/legalcode. This licence allows for the fullest distribution and re-use of the work for the benefit of scholarly information.
For authors that are not copyright owners in the work (for example government employees), please contact VILNIUS TECH to make alternative agreements.