Quadratic objective functions from ordinal data: towards more reliable representations of policymakers' preferences
- An approach recently developed by Tanguiane for constructing quadratic objective functions from a minimal set of answers to simple questions about indifference is shown to suffer from a number of deficiencies in practical work. Most importantly, objective functions turn out to be highly non-robust with respect to small errors in the decision maker's answers. For definite objective functions an alternative method is proposed which avoids these problems. In addition a modification is suggested for the case of an indefinite objective function which will at least increase the robustness of the function constructed.
Author: | Peter WelzelGND |
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URN: | urn:nbn:de:bvb:384-opus4-210405 |
Frontdoor URL | https://opus.bibliothek.uni-augsburg.de/opus4/21040 |
Series (Serial Number): | Volkswirtschaftliche Diskussionsreihe (136) |
Publisher: | Volkswirtschaftliches Institut, Universität Augsburg |
Place of publication: | Augsburg |
Type: | Working Paper |
Language: | English |
Year of first Publication: | 1995 |
Publishing Institution: | Universität Augsburg |
Release Date: | 2017/07/21 |
Pagenumber: | 22 |
Institutes: | Wirtschaftswissenschaftliche Fakultät |
Wirtschaftswissenschaftliche Fakultät / Institut für Volkswirtschaftslehre | |
Wirtschaftswissenschaftliche Fakultät / Institut für Volkswirtschaftslehre / Lehrstuhl für Ökonomie der Informationsgesellschaft | |
Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
Journals: | Volkswirtschaftliche Diskussionsreihe |
Licence (German): | Deutsches Urheberrecht |