| The problem of evaluating and selecting portfolios of multiattribute items is important, yet only a few approaches to this problem have been proposed. One critical limitation of existing approaches is the lack of a modeling framework within which different interrelationships can be identified and the item and portfolio measurements can be related.;Then, I implemented this framework into a meal evaluation problem presented in chapters 4 and 5. Although simple at first glance, this case displays the key characteristics associated with portfolio selection problems. Thus, the methodology is generic and can apply to a variety of portfolio selection problems. In fact, many portfolio selection problems (e.g., project funding, health plan selection) are similar to this problem. Chapter 6 is a discussion in which my effort is driven by a perspective of critiques and comparisons. Chapter 7 concludes this dissertation with discussions of the applicability of this framework in general and future research involving the generalization of the findings.;This study presents a generic portfolio selection framework that integrates portfolio theory in finance and multiattribute value/utility theory. This dissertation includes both theoretical development and an empirical implementation study. Chapter 1 describes the problems and the research aims. Chapter 2 presents a review of literature. Chapter 3 describes a proposed framework for portfolio selection. Two types of portfolio selection approaches are categorized in this framework: one approach first evaluates individual items according to the item attributes and then selects the portfolio on the basis of the desirabilities of portfolio items and the relationships among them, while the other approach evaluates alternative portfolios on the basis of the selected portfolio attributes, which can be decomposed into the related item attributes. The novelty of the framework lies in the creation of two taxonomies that together can provide a mechanism to identify, express, and quantify different item interrelationships and link item measurements and portfolio measurements. |
