On rational behavior in multi-attribute riskless choice

Korhonen P. J., Wallenius J., Genc T., Xu P.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, cilt.288, sa.1, ss.331-342, 2021 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 288 Sayı: 1
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1016/j.ejor.2020.05.056
  • Dergi Adı: EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, International Bibliography of Social Sciences, ABI/INFORM, Applied Science & Technology Source, Business Source Elite, Business Source Premier, Computer & Applied Sciences, EconLit, INSPEC, Public Affairs Index, zbMATH, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.331-342
  • Marmara Üniversitesi Adresli: Hayır

Özet

We theoretically compare and contrast two commonly used types of choice strategies in a riskless, multi-attribute setting: (1) the win-win (or Pareto improving) strategy, and (2) the tradeoff strategy. Both strategies can be used and are used in Multiple Criteria Decision Making theory and practice. In the win-win strategy, consumers (or decision-makers) consider, which goods they want to add to their basket. In the tradeoff strategy consumers make pairwise choices between different (efficient) baskets, where they have to give up in some goods to gain in other goods.