How to compromise on the best price? A group tacit knowledge-based multicriteria approach

Tacit knowledge plays an important role in decision-making. That is why, in this paper, we propose a group tacit knowledge-based multicriteria approach for decision processes. This approach is based on a practical case study in the field of second-hand vehicle purchase. This paper proposes ideas and research issues on how to tackle tacit knowledge in group decision processes with cost-benefit and multicriteria decision analysis. Because tacit knowledge cannot always be explained, we use the multicriteria decision analysis to fittingly explain tacit knowledge which can be explained. In order to respect the financial policy of the company that purchases/sells second-hand vehicles, we continue using the cost-benefit analysis already implemented. The goal is to help the buyer and the seller to compromise on the best price.

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