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Date Submitted: 04/24/2011 09:49 PM
Introduction to Value Tree Analysis
eLearning resources / MCDA team Director prof. Raimo P. Hämäläinen Helsinki University of Technology Systems Analysis Laboratory http://www.eLearning.sal.hut.fi
Systems Analysis Laboratory Helsinki University of Technology eLearning / MCDA
Contents
About the introduction Basic concepts A job selection problem Problem structuring Preference elicitation Results and sensitivity analysis
Systems Analysis Laboratory Helsinki University of Technology eLearning / MCDA
About the introduction
This is a brief introduction to multiple criteria decision analysis and specifically to value tree analysis After reading the material you should know
basic concepts of value tree analysis how to construct a value tree how to use the Web-HIPRE software in simple decision making problems to support your decision
Systems Analysis Laboratory Helsinki University of Technology eLearning / MCDA
Basic concepts
Objective
is a statement of something that one desires to achieve for example; “more wealth”
Attribute
indicates the level to which an objective is achieved in a given decision alternative for example by selecting a certain job offer you may get 3000 €/month
Systems Analysis Laboratory Helsinki University of Technology eLearning / MCDA
Basic concepts
Value function
Value function v(x) assigns a number i.e. value to each attribute level x. Value describes subjective desirability of the corresponding attribute level. For example:
value
1
value
1
Size of the ice cream cone
Systems Analysis Laboratory Helsinki University of Technology eLearning / MCDA
Working hours / day
Basic concepts
Value tree
In a value tree objectives are organised hierarchically
overall objective sub-objectives attributes
Top speed Driving Acceleration
alternatives
Citroen VW Passat
Price
Ideal car
Economy Expenses
Audi A4
• Each objective is defined by sub-objectives or attributes • There can be...