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Modeling a Decision-Maker's Choice Behavior through Perceived Values
Published in Institute of Electrical and Electronics Engineers Inc.
Volume: 51
Issue: 3
Pages: 1933 - 1944
In the real world, an attribute value is perceived differently by different individuals. Emphasizing on this aspect, we extend the discrete choice models with perceived values that are subjective and specific to a decision-maker (DM). The proposed choice models are augmented with the parameters of an entropy function, besides the utility coefficients, to model a DM's complex choice behavior. A variety of higher order choice models are also proposed. The proposed models are further extended with a DM's reference-value for each attribute. A real and illustrative application is included. © 2013 IEEE.
About the journal
JournalData powered by TypesetIEEE Transactions on Systems, Man, and Cybernetics: Systems
PublisherData powered by TypesetInstitute of Electrical and Electronics Engineers Inc.