
CONVEX PREFERENCE CONES: ADVANCING MULTIPLE CRITERIA DECISION MAKING AND BEYOND
Abstract
This paper delves into the utilization of convex preference cones in multiple criteria decision making (MCDM) and related fields. Convex preference cones offer a powerful framework for representing decision makers' preferences and capturing the trade-offs inherent in complex decision scenarios. Through the lens of convex preference cones, this study explores their applications in MCDM methodologies, including outranking methods, utility theory, and goal programming. Additionally, it investigates the extension of convex preference cones to diverse fields such as operations research, economics, and environmental management. By elucidating the theoretical foundations and practical applications of convex preference cones, this paper aims to foster a deeper understanding of their role in decision analysis and promote their adoption in decision-making contexts.
Keywords
Convex preference cones, Multiple criteria decision making, MCDM methodologies
References
Charnes A, Cooper WW, Rhodes E (1978) Measuring the efficiency of decision making units. Eur J Oper Res 2:429–444
Deb K (2001) Multi-objective optimization using evolutionary algorithms. Wiley, New York
Dehnokhalaji A, Korhonen P, Köksalan M, Nasrabadi N, Wallenius J (2011) Convex cone-based partial order for multiple criteria alternatives. Decis Support Syst 51:256–261
Dehnokhalaji A, Korhonen P, Köksalan M, Nasrabadi N, Tezcaner D, Wallenius J (2014) Constructing a strict total order for alternatives characterized by multiple criteria. Nav Res Logist 61(2):155–163
Dehnokhalaji A, Hallaji B, Soltani N, Sadeghi J (2017) Convex cone-based ranking of decision-making units in DEA. OR Spectr 39:861–880
Fowler J, Gel E, Köksalan M, Korhonen P, Marquis J, Wallenius J (2010) Interactive evolutionary multi- objective optimization for quasi-concave preference functions. Eur J Oper Res 206:417–425
Halme M, Joro T, Korhonen P, Salo S, Wallenius J (1999) A value efficiency approach to incorporating preference information in data envelopment analysis. Manag Sci 45(1):103–115
Halme M, Korhonen P, Eskelinen J (2014) Non-convex value efficiency analysis and its application to bank branch sales evaluation. Omega 48:10–18
Hazen GB (1983) Preference convex unanimity in multiple criteria decision making. Math Oper Res 8(4):505–516
Karakaya G, Köksalan M (2016) An interactive approach for Bi-attribute multi-item auctions. Ann Oper Res 245:97–119
Karakaya G, Köksalan M (2018) Interactive approaches for Bi-objective problems with progressively- changing solution sets. Int Trans Oper Res 25(3):1027–1052
Karakaya G, Köksalan M, Ahipasaoglu SD (2018) Interactive algorithms for a broad underlying family of preference functions. Eur J Oper Res 265(1):248–262
Karsu Ö (2013) Using holistic multicriteria assessments: the convex cones approach. In: Cochran J (ed) Wiley encyclopedia of operations research and management science. Wiley, New York, pp 1–14
Karsu Ö, Morton A, Argyris N (2018) Capturing preferences for inequality aversion in decision support. Eur J Oper Res 264(3):686–706
Köksalan M (1989) Identifying and ranking a most preferred subset of alternatives in the presence of multiple criteria. Nav Res Logist 36(4):360–372
Article Statistics
Downloads
Copyright License
Copyright (c) 2023 Akram Korhonen, Pekka Nasrabadi (Author)

This work is licensed under a Creative Commons Attribution 4.0 International License.