Abstract
This paper examines two-stage multi-attribute decision strategies in different condi-
tions where numbers of alternatives, and attributes are varied. A Monte-Carlo com-
puter simulation using the concept of elementary information processes identified de-
cision strategies that approximate the accuracy of normative procedures while saving
cognitive effort in the two-stage decision making process. The elementary strategies
examined in the simulation were nine decision strategies: lexicographic, lexicographic
semi-order, elimination by aspect, conjunctive, disjunctive, weighted additive, equally
weighted additive, additive difference, and majority of confirming dimensions strategies.
Elementary information process and relative accuracy were computed for all combina-
tion of two decision strategies for two-phased decision making process. The result of
the computer simulation suggested that comparatively effortless and accurate heuristic
was the two-phased strategy that used lexicographic strategy to eliminate until a few
alternatives in the first stage and used weighted additive strategy in the second stage.
Lastly, theoretical and practical implications of this study were discussed.
