Inconsistency of the judgment matrix in the AHP method and the decision maker's knowledge

Details Inconsistency of the judgment matrix in the AHP method and the decision maker's knowledge Inconsistency of the judgment matrix in the AHP method and the decision maker's knowledge

2008-06-30

arxiv.org/abs/0806.4876v3

Economy

Quantitative Finance

Statistical Finance

17 pages

Scientific paper

10.1016/j.physa.2008.11.034

In this paper we propose a method for a quantitative estimation of the decision maker's knowledge in the context of the Analytic Hierarchy Process (AHP) in cases, where the judgment matrix is inconsistent. We show that the matrix of deviation from the transitivity condition corresponds to the rate matrix for transaction costs in the financial market. For the quantitative estimation of the decision maker's professionalism, we apply the Ising model and thermodynamics tools.

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