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Multi-criteria decision making based on relative measures

Multi-criteria decision making based on relative measures According to regret theory, decision makers may care more about the relative values than the absolute values of alternatives. Generally, the relative values of two alternatives can be reflected from different views. Based on Abelian linearly ordered group, the relative measure is firstly proposed to calculate the relative values from different views. Then two methods are developed to calculate the relative values of alternatives, and are proved to obtain the same result under some conditions on the aggregation operator and the relative measure. Furthermore, based on the relative values of each pair of alternatives, several models are established to identify four types of optimal alternatives. The relationship of these four types of optimal alternatives is also discussed. The proposed methods can be considered as a general framework of the existing ones and can be further extended to identify the most inferior alternatives. Several examples are given to illustrate the proposed methods. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annals of Operations Research Springer Journals

Multi-criteria decision making based on relative measures

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References (26)

Publisher
Springer Journals
Copyright
Copyright © 2015 by Springer Science+Business Media New York
Subject
Economics / Management Science; Operations Research/Decision Theory; Combinatorics; Theory of Computation
ISSN
0254-5330
eISSN
1572-9338
DOI
10.1007/s10479-015-1847-z
Publisher site
See Article on Publisher Site

Abstract

According to regret theory, decision makers may care more about the relative values than the absolute values of alternatives. Generally, the relative values of two alternatives can be reflected from different views. Based on Abelian linearly ordered group, the relative measure is firstly proposed to calculate the relative values from different views. Then two methods are developed to calculate the relative values of alternatives, and are proved to obtain the same result under some conditions on the aggregation operator and the relative measure. Furthermore, based on the relative values of each pair of alternatives, several models are established to identify four types of optimal alternatives. The relationship of these four types of optimal alternatives is also discussed. The proposed methods can be considered as a general framework of the existing ones and can be further extended to identify the most inferior alternatives. Several examples are given to illustrate the proposed methods.

Journal

Annals of Operations Research – Springer Journals

Published: Apr 2, 2015

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