L. Robin Keller

Welcome (Opening Session)

Presentation (Session 5)


Multi-objective, Multi-stakeholder Decision Analysis – PDF

Author: L. Robin Keller

INFORMS
University of California

A key component of systems analysis is examining the perspectives and actions of multiple stakeholders. Constructing a hierarchy of each stakeholder’s objectives with respect to a decision situation can provide insights on areas of agreement and disagreement. Sometimes, one objectives hierarchy is suitable for a set of stakeholders, and differences in opinions across stakeholders can be characterized by differences in the multiple objectives’ weights. Examples include planning for protection against radioactive iodine releases in nuclear incidents and analysis for the merger of the Operations Research Society of America and the Institute of Management Sciences to become INFORMS. In other cases, an objectives hierarchy will be constructed for each stakeholder because their objectives are so different that construction of separate hierarchies better represents their divergent perspectives. Examples include a tuna fish supplier source selection decision (from the perspectives of the StarKist company, environmentalists, and the San Diego tuna fishing fleet), a prostate cancer treatment decision (of former Intel CEO Andy Grove, his family, his company, and his doctors), and the potential siting of a new Home Depot building supply store.

Having modeled stakeholders’ objectives, dynamic sensitivity analysis can be conducted using sliders in Excel on the objectives’ weights, to rapidly see how the preferred action may change with weight changes. It would also be possible to examine the perceived fairness across stakeholders of anticipated environmental changes or proposed societal policies. Just as groups may differ in objectives, they may also differ in their perception of risks. In particular, scientists and laypeople often judge the magnitude of risks very differently

Biography


Professor L. Robin Keller, president of the Institute for Operations Research and the Management Sciences (INFORMS), conducts decision analysis research on multiple attribute decision making; fairness; perceived risk and planning protection against terrorism; and environmental health and safety risks. A full professor of Operations and Decision Technologies in the Merage School of Business at the University of California, Irvine, USA, she teaches management science, decision analysis, and decision theory. She earned a PhD and MBA in management science and a BA in math from the University of California, Los Angeles, USA. She has served as the Doctoral Program director and associate dean for the MBA Program and for Research. She was program director for the US National Science Foundation Decision, Risk, and Management Science Program. Keller was also the editor-in-chief of the journal Decision Analysis from 2007-2012, a founding director-at-large of INFORMS, TIMS vice president‑finance, and Decision Analysis Society chair. She is an INFORMS fellow and was awarded the Kimball Medal.


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