Direct questions and comments to: Glossary master
Elimination by aspects Tversky (1972):
This rule begins by determining the most important
attribute and then retrieves a cutoff value for that attribute. All alternatives with values below
that cutoff are eliminated. The process continues with the most important remaining
attribute(s) until only one alternative remains.
Lexicographic Strategy:
This strategy first identifies the most important attribute and then
selects the alternative that is best on this attribute. In the case of ties, the tied alternatives are
compared on the next most important attribute and so on.
Equal Weight Strategy:
It examines all alternatives and attribute values but ignores the
weights (probabilities). It sums the attribute values for an alternative to get an overall score
for that alternative and then selects the alternative with the highest evaluation.
Satisficing Strategy Simon (1955):
This strategy considers one alternative at a time, in the
order they are presented. Each attribute of the current alternative is compared to a cutoff. If an
attribute fails to exceed the cutoff, then the alternative is rejected. The first alternative to pass
all the cutoffs is selected.
See also: Strategy (in game theory and economics), dominant strategies
Literature: Simon (1955), Svenson & Maule (1993), Tversky (1972)
| Entry by: Susanne Haberstroh |
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April 25, 1998 Direct questions and comments to: Glossary master |
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