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"Multiple criteria decision making"
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Multi-criteria decision analysis : methods and software
This book presents an introduction to MCDA followed by more detailed chapters about each of the leading methods used in this field. Comparison of methods and software is also featured to enable readers to choose the most appropriate method needed in their research.
Worked examples as well as the software featured in the book are available on an accompanying website.
eBook
Financial decision aid using multiple criteria : recent models and applications
This volume highlights recent applications of multiple-criteria decision-making (MCDM) models in the field of finance. Covering a wide range of MCDM approaches, including multiobjective optimization, goal programming, value-based models, outranking techniques, and fuzzy models, it provides researchers and practitioners with a set of MCDM methodologies and empirical results in areas such as portfolio management, investment appraisal, banking, and corporate finance, among others. The book addresses issues related to problem structuring and modeling, solution techniques, comparative analyses, as well as combinations of MCDM models with other analytical methodologies.
Book
SMAA methods and their applications: a literature review and future research directions
Stochastic multicriteria acceptability analysis (SMAA) is a family of multiple criteria decision making (MCDM) methods dealing with incomplete, imprecise, and uncertain information on the evaluations and preference model parameters. As it provides a general framework that has extensions to deal with various specificities in MCDM problems, the development of SMAA methods and their applications in real-life decision-making problems have been increased over the recent years. This paper provides an up-to-date literature review of different SMAA methods and their applications in various areas. First, we selected, from different on-line data base, 118 articles published between 1998 and 2017. We categorized the selected papers into theoretical and applied. While the theoretical papers were analyzed based on the method’s aggregation procedure, type of problem, type of method’s outputs and inputs, the applied papers were separated and analyzed by application areas. Then, we provide some descriptive statistics, analyzing the papers regarding to publication year and journals of publication. Finally, we provide some guidelines to assist decision-makers in the choice of a SMAA method on a specific decision-making context and some future research directions.
Journal Article
Multiple criteria decision making
Multiple Criteria Decision Making (MCDM) is all about making choices in the presence of multiple conflicting criteria. MCDM has become one of the most important and fastest growing subfields of Operations Research/Management Science. As modern MCDM started to emerge about 50 years ago, it is now a good time to take stock of developments. This book aims to present an informal, nontechnical history of MCDM, supplemented with many pictures. It covers the major developments in MCDM, from early history until now. It also covers fascinating discoveries by Nobel Laureates and other prominent scholars.
eBook
Multiple criteria decision-making techniques and their applications - a review of the literature from 2000 to 2014
Multiple criteria decision-making (MCDM) is considered as a complex decision-making (DM) tool involving both quantitative and qualitative factors. In recent years, several MCDM techniques and approaches have been suggested to choosing the optimal probable options. The purpose of this article is to systematically review the applications and methodologies of the MCDM techniques and approaches. This study reviewed a total of 393 articles published from 2000 to 2014 in more than 120 peer reviewed journals (extracted from Web of Science). According to experts' opinion, these articles were grouped into 15 fields. Furthermore, these articles were categorised based on authors, publication date, name of journals, methods, tools, and type of research (MCDM utilising research, MCDM developing research, and MCDM proposing research). The results of this study indicated that in 2013 scholars have published articles more than in other years. In addition, the analytic hierarchy process (AHP) method in the individual tools and hybrid MCDM in the integrated methods were ranked as the first and second methods in use. Additionally, the European Journal of Operational Research as the first journal with 70 publications was the significant journal in this study. Finally, energy, environment and sustainability were ranked as the first areas that have applied MCDM techniques and approaches.
Journal Article
A neutrosophic enhanced best–worst method for considering decision-makers’ confidence in the best and worst criteria
The best–worst method (BWM) is a multiple criteria decision-making (MCDM) method for evaluating ≤a set of alternatives based on a set of decision criteria where two vectors of pairwise comparisons are used to calculate the importance weight of decision criteria. The BWM is an efficient and mathematically sound method used to solve a wide range of MCDM problems by reducing the number of pairwise comparisons and identifying the inconsistencies derived from the comparison process. In spite of its simplicity and efficiency, the BWM does not consider the decision-makers’ (DMs’) confidence in their pairwise comparisons. We propose a neutrosophic enhancement to the original BWM by introducing two new parameters as the DMs’ confidence in the best-to-others preferences and the DMs’ confidence in the others-to-worst preferences. We present two real-world cases to illustrate the applicability of the proposed neutrosophic enhanced BWM (NE-BWM) by considering confidence rating levels of the DMs.
Journal Article