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A Strategy for Using Multicriteria Analysis in Decision-MakingState of the Art in Decision-Making

A Strategy for Using Multicriteria Analysis in Decision-Making: State of the Art in Decision-Making [The purpose of this chapter is to have a look at the most current models and methodologies used for helping the DM. It is not a detailed analysis because there is abundant bibliography on each one of them; it gives instead enough information to learn about their capabilities, limits and potential, and thus enabling the DM to choose the model that he/she believes is more adequate. This chapter examines the five most popular models, which are MAUT, ELECTRE, PROMETHEE, TOPSIS and AHP, and comments on an expansion of the latter known as ANP. However, it does not consider Linear Programming because its explanation and exemplification are in Chap. 4. It is a common belief that there is no one method superior to another, albeit there is perhaps one that is more popular, but most of the time any of them can be used to solve a problem; however, there is a comparison made on their characteristics and that is illustrated in Chap. 7.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Strategy for Using Multicriteria Analysis in Decision-MakingState of the Art in Decision-Making

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Publisher
Springer Netherlands
Copyright
© Springer Science+Business Media B.V. 2011
ISBN
978-94-007-1511-0
Pages
55 –102
DOI
10.1007/978-94-007-1512-7_3
Publisher site
See Chapter on Publisher Site

Abstract

[The purpose of this chapter is to have a look at the most current models and methodologies used for helping the DM. It is not a detailed analysis because there is abundant bibliography on each one of them; it gives instead enough information to learn about their capabilities, limits and potential, and thus enabling the DM to choose the model that he/she believes is more adequate. This chapter examines the five most popular models, which are MAUT, ELECTRE, PROMETHEE, TOPSIS and AHP, and comments on an expansion of the latter known as ANP. However, it does not consider Linear Programming because its explanation and exemplification are in Chap. 4. It is a common belief that there is no one method superior to another, albeit there is perhaps one that is more popular, but most of the time any of them can be used to solve a problem; however, there is a comparison made on their characteristics and that is illustrated in Chap. 7.]

Published: Jun 14, 2011

Keywords: State of the art; Decision-making; Models; Model’s examples; Decision matrix

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