Multiple criteria decision analysis (MCDA) is considered a complex decision-making (DM) tool involving both quantitative and qualitative factors. Provide a comparison of the weighted sum method (WSM) and analytic hierarchy process (AHP) to the probabilistic-based expected monetary value (EMV) and decision trees. Discuss if there is a place in decision making under uncertainty for all of these models? Consider pros and cons and what situations are most appropriate. Provide an example separate from our course resources to support your answer.

Answer rating: 100% (QA)

There is no clear consensus on which of the four methods is best for decision making under uncertain... View the full answer