Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/246452 
Year of Publication: 
2021
Citation: 
[Journal:] Operations Research Perspectives [ISSN:] 2214-7160 [Volume:] 8 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2021 [Pages:] 1-7
Publisher: 
Elsevier, Amsterdam
Abstract: 
This research aimed to replace the pairwise comparison function used in Leoneti [2016] with a new function inspired on the exponential model of prospect theory and to perform a comparative analysis to verify the hypothesis that a better performance of the utility function would be possible from the use of a component of judgment better theoretically grounded. A field study consisting of solving three cases in a group was proposed to evaluate the number of matches of the method regarding the decision negotiated by the group, and the number of times that, when there was a match, the group maintained its decision after voting. From an empirical evaluation with a hundred students that participated in the field study, the main hypothesis of this research was confirmed, which is that the use of a pairwise comparison function adhering to a decision and judgment theory increases the predictive capacity of the utility function proposed in Leoneti [2016].
Subjects: 
Utility function
Prospect theory
Game theory
Nash equilibrium
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size
552.43 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.