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.
In recent years, multi-criteria sorting problems have become an interesting topic for researchers working on multi-criteria decision-making. ELimination and Choice Expressing REality (ELECTRE)-TRI ...and FlowSort are well-known approaches suggested for such a classification. The current study aimed to implement ELECTRE-TRI and FlowSort methods in the stock portfolio selection (SPS) as one of the most popular and important decision-making subjects and compare the outcomes of each method to understand how these methods perform in SPS problems. In this study, the best–worst method was applied to determine the weights of criteria. Four approaches for ELECTRE-TRI and 15 approaches for FlowSort were considered. Finally, 19 different approaches were considered to select stocks from a large pool of stocks. Results indicated that the model parameter should be properly defined to minimize inconsistencies and improve the power of the model.
The increasing demand on productivity and quality requires machines to be constantly available for production. It is therefore crucial to develop an adequate maintenance programme. To facilitate ...this, several criteria need to be considered, such as: downtime, maintenance frequency, spare parts costs, bottleneck impacts, etc. In the literature, a strategy is selected for each machine with a multi-criteria decision choice method. However, before making an informed decision, each strategy needs to be tested on each machine and then their performances evaluated with a multicriteria decision method. This is time-consuming, inefficient and often unfeasible. As machines׳ performances are usually systematically collected by industries, a much more practical approach is to assign machines to a maintenance strategy. This is referred to as a sorting problem. However, this problem cannot be solved by existing multi-criteria sorting methods because maintenance strategies cannot always be completely ordered: incomparable strategies exist. Recently, a Decision Making Grid was proposed to allocate machines to incomparable strategies. However, this technique can only be applied to problems with two criteria. In this paper, we have developed ELECTRE-SORT, a new sorting method that is able to consider an unlimited number of criteria in order to assign machines to incomparable strategies. A case study illustrates that ELECTRE-SORT provides more precise and flexible maintenance strategies than the Decision Making Grid.
•We developed a new multicriteria decision sorting method for incomparable classes.•We assign machines to incomparable maintenance strategies.•Maintenance strategies are more precisely defined.
Six problem formulations exist in the multi-criteria decision analysis (MCDA): choice, sorting, ranking, description, elimination and design problems. The analytic hierarchy process (AHP) is a useful ...and widespread method for solving choice and ranking problems. However, it is not adapted for sorting problems. Moreover, another practical limitation of AHP is that a high number of alternatives implies a large number of comparisons. This paper presents AHPSort, a new variant of AHP, used for the sorting of alternatives into predefined ordered categories. Furthermore, AHPSort requires far less comparisons than AHP, which facilitates decision making within large-scale problems. In this paper, a real case study for supplier selection is used to illustrate our approach. First, the candidates are sorted with AHPSort within two classes: accepted and rejected suppliers. Then, a single supplier is selected with AHP among the accepted suppliers.
► We study the problem of choosing a statistical distribution matching a data-set. ► Several conflicting criteria can be used to determine the best distribution. ► We use the PROMETHEE and GAIA ...methods for this choice problem. ► We confirm previous results while introducing decision maker’s preferences.
Three methods have previously been presented in
Computer and Industrial Engineering for the selection of a statistical distribution to describe a data-set: the weighted sum model, the weighted multiplication model and data envelopment analysis. These are based on distinctive preset of parameters and result in three different rankings. In these approaches there is no interaction with the decision-maker (DM). This leads to the question: which method should a DM choose? In this paper, we adopt another approach where the DM is the central actor. Based on the multi-criteria decision aid methods, PROMETHEE and GAIA, we will show that different preference parameters (given by the DM) lead to different rankings. Finally, a group decision can be reached using its extension: PROMETHEE GDSS.
The site location is an important strategic decision for a company and usually incorporates several conflicting criteria. Therefore, multicriteria decisions methods are more and more used in this ...context. On the same time, another increasing trend is cooperative relationships where partners or even rivals work together to collectively enhance their performances by sharing resources. This paper presents a novel multi-phase approach to aid partners to address the following questions in the location problem context: ‘Where and with whom should the company locate its business?’ A case study is described where final year students are looking for a flat to share in London.
This work presents a location selection analysis for choosing a suitable borough in the region of Greater London to construct a large casino. Currently 17 of the 26 large casinos in London are ...located in the borough of Westminster which is known to generate the highest revenue in tourist spending. However, in 2007 the Casino Advisory Panel (CAP) recommended the borough of Newham as the most suitable area for a new casino instead of Westminster. By taking two viewpoints into consideration (one focussed on profitability and the other on social benefits), we evaluate the alternatives using the weighted sum, the TOPSIS and the PROMETHEE methods. The results are compared to the proposals submitted to the CAP for validation. We find that the PROMETHEE and the Weighted Sum Method are more suitable than TOPSIS for solving this problem.
► Location analysis for a new casino in Greater London. ► Two major conflicting viewpoints are considered: profitability and social benefits. ► Three MCDA approaches: weighted sum, TOPSIS and PROMETHEE. ► PROMETHEE and the Weighted Sum Method methods support the decision of the panel. ► TOPSIS has a different recommendation because it tends to recommend extremes.
In the context of multicriteria decision aid, we address the problem of regrouping alternatives into completely ordered categories based on valued preference degrees. We assume that the number of ...groups is fixed a priori. This will be referred to as the multicriteria ordered clustering problem. The model is based on the definition of an inconsistency matrix and only uses the ordinal properties of the pairwise preference relations. An exact algorithm is proposed to find the ordered partition and is applied as illustration to the Human Development Index.
► We present a model that allows to define ordered clusters in a multicriteria context. ► The method only uses the ordinal properties of the preference matrix. ► An exact algorithm is provided. ► An illustrative example based on the HDI is presented.
Although Multi-Criteria Decision Making methods have been extensively used in energy planning, their descriptive use has been rarely considered. In this paper, we add an evolutionary description ...phase as an extension to the AHP (analytic hierarchy process) method that helps policy makers to gain insights into their decision problems. The proposed extension has been implemented in an open-source software that allows the users to visualize the difference of opinions within a decision process, and also the evolution of preferences over time. The method was tested in a two-phase experiment to understand the evolution of opinions on energy sources. Participants were asked to provide their preferences for different energy sources for the next twenty years for the United Kingdom. They were first asked to compare the options intuitively without using any structured approach, and then were given three months to compare the same set of options after collecting detailed information on the technical, economic, environmental and social impacts created by each of the selected energy sources. The proposed visualization method allow us to quickly discover the preference directions, and also the changes in their preferences from first to second phase. The proposed tool can help policy makers in better understanding of the energy planning problems that will lead us towards better planning and decisions in the energy sector.
•We introduce a descriptive visual analysis tool for the analytic hierarchy process.•The method has been implemented as an open-source preference elicitation tool.•We analyse user preferences in the energy sector using this method.•The tool also provides a way to visualize temporal preferences changes.•The main negative temporal shift in the ranking was found for the nuclear energy.
We propose an extension of the FlowSort sorting method to the case when there is imprecision on the input data. Within multicriteria decision aid, a lot of attention has been paid to sorting problems ...where a set of actions has to be assigned to completely ordered categories. However, few methods suit when the data or the parameters of the model are not precisely defined. In this paper, instead of reducing the imprecise data to single values, we consider that the sorting parameters or the data are defined by intervals. We analyse the properties usually required for a sorting method and illustrate this extension on a practical example.
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