Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-8448b6f56d-42gr6 Total loading time: 0 Render date: 2024-04-19T16:00:50.025Z Has data issue: false hasContentIssue false

7 - Developing Objectives and Attributes

Published online by Cambridge University Press:  05 June 2012

By
Ralph L. Keeney
Edited by
Ward Edwards ,
Ralph F. Miles Jr.  and
Detlof von Winterfeldt
Ralph L. Keeney
Affiliation:
Fuqua School of Business, Duke University
Ralph F. Miles Jr.
Affiliation:
California Institute of Technology
Detlof von Winterfeldt
Affiliation:
University of Southern California
Get access

Summary

ABSTRACT. The fundamental objectives of any decision problem should define why the decision maker is interested in that decision. However, listing a complete set of the fundamental objectives for a decision is not a simple task. It requires creativity, time, some hard thinking, and the recognition that it is important. This chapter offers many suggestions to help do the task well and provides criteria to appraise the quality of the resulting set of fundamental objectives. For an analysis of the alternatives in terms of these objectives, an attribute to measure the achievement of each objective is required. Good attributes are essential for an insightful analysis. This chapter also includes many suggestions to help identify or construct useful attributes as well as criteria to appraise the quality of the resulting attributes. Collectively, the fundamental objectives and corresponding attributes provide the basis for any objective function and for any discussion of the pros and cons of the alternatives.

Introduction

For any decision situation, there is a specific time when it is first recognized. Before that time, there is no conscious awareness of the decision. These decision situations can be categorized depending on how they were elevated to consciousness. Some were caused by an external event, referred to as a trigger that makes it clear that a decision will have to be made. Triggers are caused by circumstances or by people other than the decision maker, the person who needs to make a choice sometime in the future.

Type
Chapter
Information
Advances in Decision Analysis
From Foundations to Applications
 , pp. 104 - 128
Publisher: Cambridge University Press
Print publication year: 2007

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Fiske, A., and Tetlock, P. (1996). Taboo trade-offs: reactions to transactions that transgress spheres of justice. Political Psychology, 18, 255–297.CrossRefGoogle Scholar
Gold, M., Siegel, J., Russell, L., and Weinstein, M. (2000). Cost-Effectiveness in Health and Medicine. New York: Oxford University Press.Google Scholar
Gregory, R., and Failing, L. (2002). Using decision analysis to encourage sound deliberation: Water use planning in British Columbia, Canada. Journal of Policy Analysis and Management, 21(3), 492–499.CrossRefGoogle Scholar
Hazen, G. (2004). Multiattribute structure for QALYs. Decision Analysis, 1, 205–216.CrossRefGoogle Scholar
Keeney, R. L. (1992). Value Focused Thinking: A Path to Creative Decision Making. Cambridge, MA: Harvard University Press.Google Scholar
Keeney, R. L., and Gregory, R. S. (2005). Selecting attributes to measure the achievement of objectives. Operations Research, 53, 1–11.CrossRefGoogle Scholar
Keeney, R. L., and McDaniels, T. (1999). Identifying and structuring values to guide integrated resource planning at BC Gas. Operations Research, 47, 651–662.CrossRefGoogle Scholar
Keeney, R. L., and Winterfeldt, D. (1994). Managing nuclear waste from powerplants. Risk Analysis, 14, 107–130.CrossRefGoogle Scholar
Merkhofer, M. W., and Keeney, R. L. (1987). A multiattribute utility analysis of alternative sites for the disposal of nuclear waste. Risk Analysis, 7, 173–194.CrossRefGoogle ScholarPubMed
Peters, T. J., and Waterman, R. H. Jr. (1982). In Search of Excellence. New York: Harper & Row.Google Scholar
Pliskin, J. S., Shepard, D. S., and Weinstein, M. C. (1980). Utility functions for life years and health status. Operations Research, 28, 206–224.CrossRefGoogle Scholar
Seelye, G. Q., and Tierney, J. (2003). EPA Drops Age-Based Cost Studies. New York Times, Late Edition, Section A, May 3, p. 34.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×