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A Solution To Rational Decision Making Via Compositional Data Analysis: A Case Study Using Students Cellular Phone Tendencies

Year 2015, Volume 3, Issue 1, 2015, 59 - 66, 17.03.2015
https://doi.org/10.17093/aj.2015.3.1.5000107125

Abstract

Decisions can be simple or complex depending on the alternatives available to the decision maker, and also, to the different state of the worlds. In classical decision theory, a pay-off table is analysed in order to make an optimal decision. Here, the decision process involves the definition of different alternatives and state of the worlds, cost or profit calculations of the pay-off table, and probability values, if any, related to state of the worlds. In decision problems, sometimes, it may be necessary to involve emotional attachments in order to create pay-off table. In this setting, rather than using the usual cost or profit values, some satisfaction values can be assigned to the criteria and the rationality of different alternatives can be investigated. In this study, the rationality approach to decision pay-off matrix is demonstrated using a real life example regarding a cellular phone purchase. Furthermore, a compositional data analysis approach is also suggested, and the contributions of the compositional data analysis to decision theory are given.

References

  • De Groot, M.,1970. Optimal Statistical Decisions. Wiley Classics Library.
  • Clemen, R.T. and T. Reilly, 2001. Making Hard Decisions with DecisionTools. Duxbury Thompson Learning.
  • Hansson S.O., 1994. Decision Theory a Brief Introduction. Class Notes, “http://www.infra.kth.se/~soh/decisiontheory.pdf”, Access date: 13.07.2009.
  • Kantarelis, D., 2007. Theories of The Firm. Inderscience Enterprises Ltd.
  • Bermudez, J.L., 2009. Decision Theory and Rationality. Oxford UP.
  • Aitchison, J., 1986. The Statistical Analysis of Compositional Data. Chapman & Hall, London.
  • Filzmoser, P. and K. Hron, 2008. Outlier Detection For Compositional Data Using Robust Methods. Mathematical Geosciences 40 (3): 233-248.
  • Filzmoser, P. and K. Hron, 2009. Correlation Analysis For Compositional Data. Mathematical Geo-sciences, 41: 905-919.
  • Filzmoser, P., K. Hron, and C. Reimann, 2009. Principal Component Analysis For Compositional Data With Outliers. Environmetrics, 20: 621-632.
  • Johnson , R. A., and D.W. Wichern, 2007. Applied Multivariate Statistical Analysis. Prentice Hall.
  • Aitchison J, and M. Greenacre, 2002. Biplots of Compositional Data. Applied Statistics 51:375 - 392.

Rasyonel Karar verme Problemi için Compositional Veri Analizi Yaklaşımı: Öğrenci Telefon Tercihleri Üzerine Bir uygulama

Year 2015, Volume 3, Issue 1, 2015, 59 - 66, 17.03.2015
https://doi.org/10.17093/aj.2015.3.1.5000107125

Abstract

Karar vericinin içinde bulunduğu doğal durumlar ve karar seçeneklerine bağlı olarak, Kararlar basit veya karmaşık olabilir. Klasik karar teorisinde en iyi kararın verilmesi için sonuç matrisi analiz edilir. Bu analizde karar süreci, farklı karar seçeneklerinin belirlenmesi, doğal durumların tespiti, beklenen kar veya zarar değerlerinin hesaplanması ile sonuç matrisinin hesaplanması, ve var ise doğal durumlara ilişkin olasılık değerlerinin tespitini içerir. Sonuç matrisi oluşturulurken kimi karar verme süreçlerinde karar verici duygusal yargılarını da sürece eklemek isteyebilir. Böyle bir durumda, sıradan kar-zarar hesabı yerine, kriterlere bazı memnuniyet değerleri ataması yapılarak, farklı karar seçeneklerinin rasyonel olup olmadıkları araştırılabilir. Bu çalışmada, karar sonuç matrisi için rasyonellik yaklaşımı, cep telefonu alımı örneği üzerinden gösterilmiştir. Ek olarak, çözüm için Compositional (bütüne tamamlayan) veri analizi yaklaşımı da önerilerek, Compositional veri analizinin karar teorisine katkıları sunulmuştur.

References

  • De Groot, M.,1970. Optimal Statistical Decisions. Wiley Classics Library.
  • Clemen, R.T. and T. Reilly, 2001. Making Hard Decisions with DecisionTools. Duxbury Thompson Learning.
  • Hansson S.O., 1994. Decision Theory a Brief Introduction. Class Notes, “http://www.infra.kth.se/~soh/decisiontheory.pdf”, Access date: 13.07.2009.
  • Kantarelis, D., 2007. Theories of The Firm. Inderscience Enterprises Ltd.
  • Bermudez, J.L., 2009. Decision Theory and Rationality. Oxford UP.
  • Aitchison, J., 1986. The Statistical Analysis of Compositional Data. Chapman & Hall, London.
  • Filzmoser, P. and K. Hron, 2008. Outlier Detection For Compositional Data Using Robust Methods. Mathematical Geosciences 40 (3): 233-248.
  • Filzmoser, P. and K. Hron, 2009. Correlation Analysis For Compositional Data. Mathematical Geo-sciences, 41: 905-919.
  • Filzmoser, P., K. Hron, and C. Reimann, 2009. Principal Component Analysis For Compositional Data With Outliers. Environmetrics, 20: 621-632.
  • Johnson , R. A., and D.W. Wichern, 2007. Applied Multivariate Statistical Analysis. Prentice Hall.
  • Aitchison J, and M. Greenacre, 2002. Biplots of Compositional Data. Applied Statistics 51:375 - 392.
There are 11 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Şenay Lezki

Sinan Aydın

Fikret Er

Publication Date March 17, 2015
Submission Date March 17, 2015
Published in Issue Year 2015 Volume 3, Issue 1, 2015

Cite

APA Lezki, Ş., Aydın, S., & Er, F. (2015). A Solution To Rational Decision Making Via Compositional Data Analysis: A Case Study Using Students Cellular Phone Tendencies. Alphanumeric Journal, 3(1), 59-66. https://doi.org/10.17093/aj.2015.3.1.5000107125

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