Multiattribute Decision Analysis
There’s More to Life than Money
Many decisions can be made on the basis of a financial measure of value (expected NPV, IRR); however, for some decisions, financial objectives are not sufficient. These are referred to as multiattribute decisions.
My definition: multiattribute decision analysis is appropriately considering non-financial objectives and their associated trade-offs, which leads to clarity for the decision maker.
Multiattribute DA addresses how to make decisions where there are multiple factors (attributes) affecting the decision. In this chapter, we’ll discuss how to appropriately dial in subjective factors and opinions into decision making.
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