A comparison of the analytic hierarchy process and a simple multi-attribute value function

Abstract

The paper reviews the applicability of approaches to multiple criteria decision making to aiding in the selection of a preferred option from a short-list of alternatives in the light of a wealth of information about those alternatives. It is concluded that Saaty's Analytic Hierarchy Process and a Simple Multi-Attributed Value Function are the approaches best suited to this problem and the most widely used in practice. The paper goes on to compare these approaches in detail from both a theoretical and a practical standpoint. The underlying assumptions of each are examined and considered in the light of practical decision aiding. The practical implications of the use of each approach are discussed. Reference is made to experimental work carried out by the author which has examined both practical and theoretical aspects of the use of each approach in isolation and in comparative studies. The paper will be of relevance to anyone facing a decision involving a finite number of alternatives and multiple criteria and considering the use of a formal approach.