Generalization of Domination Structures and Nondominated Solutions in Multicriteria Decision Making

The uses and management of capital is extremely important to the operation of any businesses. However, not all businesses have available capital, so the use of loans in many different forms is always an effective solution in managing corporate finance. Accompanying with businesses, many financial leasing companies have implemented products and programs to lend money to businesses with low interest rates. So, choosing the best financial leasing company is a primary concern of businesses. To increase competitiveness, financial leasing companies often offer preferential conditions to attract businesses. Choosing the best financial leasing service to leasing is important and necessary to those businesses. Thus, the selection of a financial leasing company by small and medium enterprises benefits from the application of Multicriteria Decision-Making (MCDM) methods which allows the decision maker to consider various qualitative and quantitative criteria. In this article, the author applied Fuzzy Analytical Network Process (FANP) to calculate the related criteria weights of the financial leasing company selection problem of businesses. Then, the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is applied to rank the potential decision-making units. This research establishes one complete and efficient model for financial leasing company selection using FANP and TOPSIS methods. The proposed model is then applied into a real-world case study to demonstrate its feasibility.

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Optimal ecodesign selection for biodiesel production in biorefineries through multicriteria decision making

Clean Technologies and Environmental Policy ◽

10.1007/s10098-021-02141-9 ◽

2021 ◽

Author(s):

Luisa Andrea González-Cruz ◽

Luis Fernando Morales-Mendoza ◽

Alberto Alfonso Aguilar-Lasserre ◽

Catherine Azzaro-Pantel ◽

Paulina Martínez-Isidro ◽

...

Keyword(s):

Decision Making ◽

Multicriteria Decision Making ◽

Biodiesel Production ◽

Multicriteria Decision ◽

Selection For

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Approaches for multicriteria decision-making based on the hesitant fuzzy best–worst method

Complex & Intelligent Systems ◽

10.1007/s40747-021-00406-w ◽

2021 ◽

Author(s):

Jian Li ◽

Li-li Niu ◽

Qiongxia Chen ◽

Zhong-xing Wang

Keyword(s):

Decision Making ◽

Comparative Analysis ◽

Programming Model ◽

Multicriteria Decision Making ◽

Decision Makers ◽

Multicriteria Decision ◽

Preference Relations ◽

Fuzzy Preference Relations ◽

Decision Making Models ◽

Best Worst Method

AbstractHesitant fuzzy preference relations (HFPRs) have been widely applied in multicriteria decision-making (MCDM) for their ability to efficiently express hesitant information. To address the situation where HFPRs are necessary, this paper develops several decision-making models integrating HFPRs with the best worst method (BWM). First, consistency measures from the perspectives of additive/multiplicative consistent hesitant fuzzy best worst preference relations (HFBWPRs) are introduced. Second, several decision-making models are developed in view of the proposed additive/multiplicatively consistent HFBWPRs. The main characteristic of the constructed models is that they consider all the values included in the HFBWPRs and consider the same and different compromise limit constraints. Third, an absolute programming model is developed to obtain the decision-makers’ objective weights utilizing the information of optimal priority weight vectors and provides the calculation of decision-makers’ comprehensive weights. Finally, a framework of the MCDM procedure based on hesitant fuzzy BWM is introduced, and an illustrative example in conjunction with comparative analysis is provided to demonstrate the feasibility and efficiency of the proposed models.

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