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Advances in Decision Sciences
Volume 2013 (2013), Article ID 697072, 9 pages
http://dx.doi.org/10.1155/2013/697072
Research Article

Verbal Decision Analysis: Foundations and Trends

College of Business, University of Montevallo, Station No. 6530, Montevallo, AL 35115, USA

Received 23 April 2013; Accepted 12 September 2013

Academic Editor: David Bulger

Copyright © 2013 Helen M. Moshkovich and Alexander I. Mechitov. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

The primary goal of research in multiple criteria decision analysis is to develop tools to help people make more reasonable decisions. In many cases, the development of such tools requires the combination of knowledge derived from such areas as applied mathematics, cognitive psychology, and organizational behavior. Verbal Decision Analysis (VDA) is an example of such a combination. It is based on valid mathematical principles, takes into account peculiarities of human information processing system, and fits the decision process into existing organizational environments. The basic underpinnings of Verbal Decision Analysis are demonstrated by early VDA methods, such as ZAPROS and ORCLASS. New trends in their later modifications are discussed. Published applications of VDA methods are presented to support the findings.