A Parallel between Regret Theory and Outranking Methods for Multicriteria Decision Making Under Imprecise Information

Theory and Decision 65 (1):45-70 (2008)
  Copy   BIBTEX


Incorporation of the behavioral issues of the decision maker (DM) is among the aspects that each Multicriteria Decision Making (MCDM) method implicitly or explicitly takes into account. As postulated by regret theory, the feelings of regret and rejoice are among the behavioral issues associated with the entire decision making process. Within the context of MCDM, the DM may feel regret, when the chosen alternative is compared with another one having at least one better criterion value. PROMETHEE II is a widely known MCDM method that makes no explicit incorporation of regret attitude of the DM. In this paper, we elaborate on the applicability of regret theory to MCDM context. In particular, we investigate the findings of regret theory and explore the parallel between regret theory and PROMETHEE II method. Relying on the concepts of regret theory, we demonstrate how a decision that is made using a PROMETHEE II based outranking method conforms to the regret attitude of the DM



    Upload a copy of this work     Papers currently archived: 91,998

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

Similar books and articles

Regret and the control of temporary preferences.Terry Connolly & Jochen Reb - 2005 - Behavioral and Brain Sciences 28 (5):653-654.
Regret aversion in reason-based choice.Terry Connolly & Jochen Reb - 2012 - Theory and Decision 73 (1):35-51.
Abortion and regret.Kate Greasley - 2012 - Journal of Medical Ethics 38 (12):705-711.
Tempered Regrets Under Total Ignorance.Mary H. Acker - 1997 - Theory and Decision 42 (3):207-213.
Value in the guise of regret.Carla Bagnoli - 2000 - Philosophical Explorations 3 (2):169 – 187.
Statistical decisions under ambiguity.Jörg Stoye - 2011 - Theory and Decision 70 (2):129-148.


Added to PP

66 (#246,338)

6 months
10 (#269,219)

Historical graph of downloads
How can I increase my downloads?