Smarts and Smarter

SMARTS (Simple Multi-Attribute Rating Technique Using Swings) and SMARTER (Simple Multi-Attribute Rating Technique Exploiting Ranks) are two prescriptive techniques for making choices under certainty between options evaluated on multiple attributes proposed by Edwards and Barron in 1994 to replace the original SMART proposed by Edwards in 1977. Each assumes a weighted, additive, multi-attribute utility model, and each seeks to simplify the operations necessary to estimate the multi-attribute utility of each option under consideration. The techniques differ primarily in the procedure for weighting the importance of attributes.

Consider a headache sufferer making a choice between three pain relievers, each of which has a different level of provided relief, duration of relief, and potential for side effects. For example, Pain reliever A provides excellent relief for 2 hours ...

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