Pelin Gulum Tas, Yousef Maknoon, Jafar Rezaei (Faculty of Technology, Policy and Management, Delft University of Technology, The Netherlands)
Abstract
Eliciting attribute weights and values are two crucial steps in many multi-attribute decision-making (MADM) methods. Due to their high reliance on judgmental inputs from decision-makers, these steps can be subject to various behavioral factors, including time preference. Given the frequent application of MADM methods in many strategic real-life problems, examining time-related behavioral vulnerabilities and providing systematic approaches to overcome them become imperative. This talk will discuss the time preference phenomenon in complex, multi-attribute decision-making problems. A special experiment is designed following the Multi-Attribute Value Theory (MAVT) steps, and a health-related intertemporal decision problem is used. In a within-subject design, participants’ preferences are used to elicit attribute weights and value functions considering different resolution times of a health-related outcome. Data were collected from six European countries via an online platform. The statistical analyses indicate the significant influence of time preference on elicited importance weights and value functions. Subjects assigned different weights to the same attributes and different values to the same outcomes depending on the time of the realization of outcomes. These findings have significant implications for both practitioners and researchers.
Why should you join?
Participants will learn how time preferences affect the multi-attribute decision-making process in a health-related context and discover the complex behavioral mechanisms behind the choices.
December 12th, 2024
12 PM to 12.40 PM (UK GMT-1)
1 PM; to 1.40 PM (CET, Berlin)
https://us02web.zoom.us/j/89143663283?pwd=kxdJrqXHfZ0O2nJVPL7TgfCBfuJtRq.1
Meeting-ID: 891 4366 3283
Kenncode: 1
Comment: In case of technical problems, please visit https://www.euro-online.org/websites/bor/behavioral-operation-research-brown-bag-seminar-series/ before the start of the meeting.