Resolving Trade-Offs: From Simple Heuristics to Multicriteria Analysis

  • Reference: DARDEN-QA-0914-E

  • Number of pages: 10

  • Publication Date: Dec 18, 2020

  • Fecha de edición: May 1, 2023

  • Source: Darden University of Virginia (USA)

  • Type of Document: Technical Note

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Description

This note discusses a variety of methods to assist intuition in complex situations with multiple objectives and a potentially large set of alternatives. It begins with heuristic rules, which are relatively simple ways to sort out alternatives without thinking too much about trade-offs. After discussing the reliability of such rules, it moves to multicriteria analysis, which is a more rational method of balancing conflicting objectives.

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Keywords

decision-making