Introduction

Abstract

Decision making of all kinds involves the choice of one or more alternatives from a list of options. The list of options would normally all be more or less acceptable solutions for the problem at hand and consequences, both good and bad, flow from the exercise of choice. The aim of rational decision making, therefore, is to maximise the positive consequences and minimise the negative ones. As these consequences are directly related to the decision made or option chosen, it is not unreasonable to treat the consequences as aspects of performance. The decision problem then becomes a matter of considering these aspects of performance of all the options available simultaneously so that the decision maker (DM) can exercise his choice. In other words, rational decision making involves choice within the context of multiple measures of performance or multiple criteria.