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Forecast Adjustment in Multicriteria Analysis Using Parameterisable Functions

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Resumo(s)

This investigation proposes improvements to the TODIM multicriteria decision-support method. A new parametrisation of the TODIM phi function is introduced using techniques common in binary-response statistical models, aiming to increase flexibility and better reflect real decision-maker behaviour. Empirical validation uses preference and weighting data from 20 higher-education students (Leoneti, 2016). Results from the original TODIM are compared with an adapted version (TODIMAdp). Spearman correlation with participants’ initial rankings shows that TODIMAdp performs better on average (0.29 vs. 0.20) and correctly predicts the top-ranked alternative in 50% of cases, compared with 37% for the original method. Assuming MCDM ranking methods can be evaluated by their ability to reproduce initial preferences, the study finds that TODIMAdp’s additional parameters increase modelling flexibility and predictive capacity. The results suggest that further exploration of parameter combinations may strengthen TODIM’s descriptive and forecasting performance in applied multicriteria decision contexts.

Descrição

Palavras-chave

Bounded rationality Prospect theory TODIMAdp Forecast Parameterization

Contexto Educativo

Citação

São João, R., Leoneti, A., & Santos, P. (2026). Forecast adjustment in multicriteria analysis using parameterisable functions. In Optimization 2026: Book of abstracts (p. 44). Associação Portuguesa de Investigação Operacional (APDIO).

Projetos de investigação

Unidades organizacionais

Fascículo

Editora

ISEG : Lisbon School of Economics and Management, Universidade de Lisboa

Licença CC

Sem licença CC