Common mistakes in making value trade-offs

Journal Article (Journal Article)

Value trade-offs define how much must be gained in the achievement of one objective to compensate for a lesser achievement on a different objective. Value trade-offs that adequately express a decision maker's values are essential both for good decision making in multiple-objective contexts and for insightful analyses of multiple-objective decisions. This paper identifies and illustrates 12 important mistakes frequently made that limit one's ability to determine useful value trade-offs. It then suggests how to avoid making these mistakes. The intent is to provide practical advice for making good value trade-offs, and hence, better decisions.

Full Text

Duke Authors

Cited Authors

  • Keeney, RL

Published Date

  • January 1, 2002

Published In

Volume / Issue

  • 50 / 6

International Standard Serial Number (ISSN)

  • 0030-364X

Digital Object Identifier (DOI)

  • 10.1287/opre.50.6.935.357

Citation Source

  • Scopus