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The Use of Initial Filters to Direct Search in Decision Processes

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Ramsey D. M.

Multiple Criteria Decision Making

2017

vol. 12

134-150

When looking for a valuable resource, many people use information from the Internet as a way of choosing a small number of offers to investigate in more detail. This paper considers strategies based on the filtering of initial information. A new model is presented according to which the goal of the decision maker is to maximise her expected reward from search taking into account the search costs. The effectiveness of strategies based on filtering is compared to sequential search based on a threshold and exhaustive search of a chosen number of items.

Optimal Selection From a Set of Offers Using a Short List

100%

Ramsey D. M.

Multiple Criteria Decision Making

2019

vol. 14

75-92

The rise of the Internet has led to a huge amount of information being available at the touch of a button. This article presents a model of searching for a valuable good, e.g. a new flat, using the Internet to gain initial information about the offers available. This information is used to create a short list of offers to be observed more closely before making a final decision. Although there has been a lot of recent work on the use of short lists in decision making procedures, there has been very little work on how the length of a short list should depend on the parameters of the search problem. This article addresses this problem and gives results on the optimal length of a short list when a searcher is to choose one of n offers and the search costs are convex in the length of the short list. Several examples are considered.

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2 Multiple Criteria Decision Making

2 Ramsey D. M.

1 2019

1 2017

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The Use of Initial Filters to Direct Search in Decision Processes

Optimal Selection From a Set of Offers Using a Short List