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Todim-Fse: A Multicriteria Classification Method Based On Prospect Theory

100%

Campos Passos A., Autran Monteiro Gomes L. F.

Multiple Criteria Decision Making

2014

vol. 9

123-139

This paper introduces TODIM-FSE, a multicriteria method for classifying alternatives based on Prospect Theory. TODIM-FSE therefore relies on the TODIM method combined with the Fuzzy Synthetic Evaluation approach. TODIM-FSE makes use of the innovative "contribution" concept, not used previously for multicriteria classification purposes. This notion is central to the classification procedure of TODIM-FSE as it is associated to the contribution of each criterion to the classification of a given alternative in a predefined category. The TODIM-FSE method is explained in this paper by means of an application example and its steps are outlined. The application example has to do with the selection of trainee candidates for a company in the area of information technology. The classification of the candidates allows to identify the best of them, which is typically done at the first stage of the selection process. Some of the evaluation criteria considered in the study were: computers skills, mastery of technical English, and previous working experience in the field. In the second stage of that process another procedure ranks the best candidates. TODIM-FSE can be easily programmed in spreadsheets so as to be made available to professionals without a sound knowledge of either Multiple Criteria Decision Analysis or Prospect Theory. Currently the authors are working on a series of applications for validating TODIM-FSE in a broader way.

ZA DROGIE CZY ZA TANIE? EFEKT NIEDOPASOWANIA

84%

GASPARSKI P.

Psychologia Ekonomiczna

2014

issue 6

This article deals with the subjective mapping of prices. It was proposed that the relationship between the actual prices of market goods and their subjective representation can be expressed by using the psycho-accounting function postulated by Prospect Theory. 316 respondents were asked to intuitively estimate the prices for nine categories of market goods. The results confirmed the proposition. The power function was established for all categories of goods. The prices of relatively cheap goods were overestimated, which was labeled as overestimation bias. The prices of relatively expensive goods were underestimated, which was labeled as underestimation bias. The discrepancy between the psycho-accounting function and the isomorphic mapping generates the mismatch effect. The practical consequences that arise from the mismatch effect for both buyers and sellers are discussed.

Artykuł dotyczy subiektywnego odwzorowywania cen. Założono, że związek między rzeczywistymi cenami towarów rynkowych a ich subiektywnym odwzorowaniem można wyrazić za pomocą funkcji psychorachunkowej postulowanej przez teorię perspektywy. W badaniach kwestionariuszowych wzięło udział 316 osób. Respondenci mieli oszacować ceny dóbr rynkowych w 9 kategoriach. Wyniki potwierdziły założenia. Dla wszystkich kategorii znaleziono funkcję potęgową, spełniającą następujące warunki: ceny towarów względnie tanich były zawyżane, co nazwano błędem przeszacowania; natomiast ceny towarów względnie drogich były zaniżane, co nazwano błędem niedoszacowania. Rozbieżność między wklęsłością przebiegu funkcji psychorachunkowej a idealnym odwzorowaniem cen nazwano efektem niedopasowania. W dyskusji wyników rozważa się praktyczne konsekwencje, które wynikają z efektu niedopasowania: dla kupujących i sprzedających.

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1 Multiple Criteria Decision Making

1 Psychologia Ekonomiczna

1 Autran Monteiro Gomes L. F.

1 Campos Passos A.

1 GASPARSKI P.

2 2014

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Todim-Fse: A Multicriteria Classification Method Based On Prospect Theory

ZA DROGIE CZY ZA TANIE? EFEKT NIEDOPASOWANIA