Modeling multicriteria group decision making as games from enhanced pairwise comparisons

• Published in: Operations Research Perspectives Vol. 8; pp. 1 - 7
• Main Authors: Leoneti, Alexandre Bevilacqua, Gomes, Luiz Flávio Autran Monteiro
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier 2021; Elsevier Ltd
• Subjects: Game theory; Nash equilibrium; Prospect theory; Utility function; Nash equilibrium; Prospect theory; Game theory; Utility function
• ISSN: 2214-7160; 2214-7160
• DOI: 10.1016/j.orp.2021.100194

This research aimed to replace the pairwise comparison function used in Leoneti [2016] with a new function inspired on the exponential model of prospect theory and to perform a comparative analysis to verify the hypothesis that a better performance of the utility function would be possible from the use of a component of judgment better theoretically grounded. A field study consisting of solving three cases in a group was proposed to evaluate the number of matches of the method regarding the decision negotiated by the group, and the number of times that, when there was a match, the group maintained its decision after voting. From an empirical evaluation with a hundred students that participated in the field study, the main hypothesis of this research was confirmed, which is that the use of a pairwise comparison function adhering to a decision and judgment theory increases the predictive capacity of the utility function proposed in Leoneti [2016].