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Stochastic multicriteria acceptability analysis

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Stochastic Multicriteria Acceptability Analysis (SMAA) is a multiple criteria decision aiding method for problems with incomplete information. This means that criteria and preference information can be uncertain, inaccurate or partially missing. Incomplete information is represented in SMAA using suitable probability distributions. The method is based on stochastic simulation by drawing random values for criteria measurements and weights from their corresponding distributions.[1]

A survey on different variants and applications of SMAA can be found in [2].

References

  1. ^ Lahdelma R., Salminen P. (2001). SMAA-2: Stochastic Multicriteria Acceptability Analysis for Group Decision Making. Operations Research 49(3):444-454. http://dx.doi.org/10.1287/opre.49.3.444.11220
  2. ^ Tervonen T., Figueira J. (2008) A survey on stochastic multicriteria acceptability analysis methods. Journal of Multi-Criteria Decision Analysis 15(1-2):1-14. http://dx.doi.org/10.1002/mcda.407