Alexander Engau, Clemson University

``Why not choose an ice cream cone?''

to model preferences in a multiple criteria decision making

Abstract:

It is a warm day in Charleston, SC, and all you know is that you need something from the local ice cream parlor. You are still deciding what to choose, when the iceman asks the question ”Why not choose an ice cream cone?”

It is a common characteristic of decision problems involving multiple criteria that the definition of a best alternative depends on the individual preferences of the decision maker. However, all that is usually known are some general properties of the underlying preference structure as induced by a set of chosen preference principles. To use an existing preference model thus requires deciding which principles to accept and which to reject. In my talk, I will first review several preference principles and illustrate the corresponding preference models. Motivated by some remaining shortcomings of these models, I will then introduce a new preference model which can be described by a variable non-polyhedral cone (”ice cream cone”). In proposing this model for application in multiple criteria decision making, I hope to stimulate some discussion and receive objections or support to my initial question ”Why not choose an ice cream cone?”

Advisor: Margaret M. Wiecek (Clemson)