Criteria importance theory for multicriterial decision making problems with a hierarchical structure

2017 ◽  
Vol 258 (3) ◽  
pp. 983-992 ◽  
Author(s):  
Olga V. Podinovskaya ◽  
Vladislav V. Podinovski
Keyword(s):  
Decision Making ◽  
Hierarchical Structure ◽  
Criteria Importance Theory ◽  
Criteria Importance

Continuous Decisions

2020 ◽  
Author(s):  
Seng Bum Michael Yoo ◽  
Benjamin Hayden ◽  
John Pearson
Keyword(s):  
Decision Making ◽  
Control Theory ◽  
Hierarchical Structure ◽  
Action Planning ◽  
Extended Period ◽  
Microeconomic Theory ◽  
Engineering Control ◽  
Over Time ◽  
Academic Study

Humans and other animals evolved to make decisions that extend over time with continuous and ever-changing options. Nonetheless, the academic study of decision-making is mostly limited to the simple case of choice between two options. Here we advocate that the study of choice should expand to include continuous decisions. Continuous decisions, by our definition, involve a continuum of possible responses and take place over an extended period of time during which the response is continuously subject to modification. In most continuous decisions, the range of options can fluctuate and is affected by recent responses, making consideration of reciprocal feedback between choices and the environment essential. The study of continuous decisions raises new questions, such as how abstract processes of valuation and comparison are co-implemented with action planning and execution, how we simulate the large number of possible futures our choices lead to, and how our brains employ hierarchical structure to make choices more efficiently. While microeconomic theory has proven invaluable for discrete decisions, we propose that engineering control theory may serve as a better foundation for continuous ones. And while the concept of value has proven foundational for discrete decisions, goal states and policies may prove more useful for continuous ones.

scholarly journals Application of Interval Fuzzy Logic in Selecting a Sustainable Supplier on the Example of Agricultural Production

Symmetry ◽  
2021 ◽  
Vol 13 (5) ◽  
pp. 774
Author(s):  
Adis Puška ◽  
Miroslav Nedeljković ◽  
Sarfaraz Hashemkhani Zolfani ◽  
Dragan Pamučar
Keyword(s):  
Decision Making ◽  
Fuzzy Logic ◽  
Asymmetric Information ◽  
Agricultural Production ◽  
Complete Information ◽  
Sustainable Supply Chain ◽  
Sustainability Criteria ◽  
Criteria Importance ◽  
Selection Of ◽  
Economic Criteria

The selection of sustainable suppliers (SSS) is the first step in applying a sustainable supply chain and sustainable production. Therefore, it is necessary to select the supplier that best meets the set sustainability criteria. However, the selection of suppliers cannot be done by applying symmetric information, because the company does not have complete information, so asymmetric information should be used when selecting suppliers. Since the SSS applies three main sustainability criteria, environmental, social, and economic criteria, this decision-making problem is solved by applying multi-criteria decision-making (MCDM). In order to solve the SSS for the needs of agricultural production, interval fuzzy logic was applied in this research, and six suppliers with whom agricultural pharmacies in Semberija work were taken into consideration. The application of interval fuzzy logic was performed using the methods PIPRECIA (Pivot pairwise relative criteria importance assessment) and MABAC (Multi-Attributive Border Approximation Area Comparison). Using the PIPRECIA method, the weights of criteria and sub-criteria were determined. Results of this method showed that the most significant are economic criteria, followed by the social criteria. The ecological criteria are the least important. The supplier ranking was performed using the MABAC method. The results showed that supplier A4 best meets the sustainability criteria, while supplier A6 is the worst. These results were confirmed using other MCDM methods, followed by the sensitivity analysis. According to the attained results, agricultural producers from Semberija should buy the most products from suppliers A4, in order to better apply sustainability in production. This paper showed how to decision make when there is asymmetric information about suppliers.

New multicriterial decision rules in criteria importance theory

2013 ◽  
Vol 88 (1) ◽  
pp. 486-488 ◽  
Author(s):  
V. V. Podinovski ◽  
O. V. Podinovskaya
Keyword(s):  
Decision Rules ◽  
Criteria Importance Theory ◽  
Criteria Importance

Institutional Structure and the Logic of Ongoing Collective Action

1987 ◽  
Vol 81 (1) ◽  
pp. 129-154 ◽  
Author(s):  
Jonathan Bendor ◽  
Dilip Mookherjee
Keyword(s):  
Decision Making ◽  
Collective Action ◽  
Hierarchical Structure ◽  
Prisoner’S Dilemma ◽  
Institutional Structure ◽  
Herbert Simon ◽  
Conditional Cooperation ◽  
Mutual Cooperation ◽  
Selective Incentives ◽  
Individual Choices

Work by Axelrod, Hardin, and Taylor indicates that problems of repeated collective action may lessen if people use decentralized strategies of reciprocity to induce mutual cooperation. Hobbes's centralized solution may thus be overrated. We investigate these issues by representing ongoing collective action as an n-person repeated prisoner's dilemma. The results show that decentralized conditional cooperation can ease iterated collective action dilemmas—if all players perfectly monitor the relation between individual choices and group payoffs. Once monitoring uncertainty is introduced, such strategies degrade rapidly in value, and centrally administered selective incentives become relatively more valuable. Most importantly, we build on a suggestion of Herbert Simon by showing that a hierarchical structure, with reciprocity used in subunits and selective incentives centrally administered, combines the advantages of the decentralized and centralized solutions. This hierarchical form is more stable than the decentralized structure and often secures more cooperation than the centralized structure. Generally, the model shows that the logic of repeated decision making has significant implications for the institutional forms of collective action.

scholarly journals Parametric analysis of dry machining process using a novel integrated multi-attribute decision making approach

2022 ◽  
Vol 11 (2) ◽  
pp. 193-202
Author(s):  
G. Venkata Ajay Kumar ◽  
A. Ramaa ◽  
M. Shilpa
Keyword(s):  
Decision Making ◽  
Process Parameters ◽  
Machining Process ◽  
Machining Parameters ◽  
Machining Processes ◽  
Order Preference ◽  
Dry Conditions ◽  
Criteria Importance ◽  
The Right ◽  
Selection Of

In most of the machining processes, the complexity arises in the selection of the right process parameters, which influence the machining process and output responses such as machinability and surface roughness. In such situations, it is important to estimate the inter-relationships among the output responses. One such method, Decision-Making Trial and Evaluation Laboratory (DEMATEL) is applied to study the inter-relationships of the output responses. Estimation of proper weights is also crucial where the output responses are conflicting in nature. In the current study, DEMATEL technique is used for estimating the inter-relationships for output responses in machining of EN 24 alloy under dry conditions. CRiteria Importance Through Inter-criteria Correlation (CRITIC) method is used to estimate the weights and finally the optimal selection of machining parameters is carried out using Techniques for Order Preference by Similarity to an Ideal Solution (TOPSIS) method. The model developed guides the decision maker in selection of precise weights, estimation of the inter relationships among the responses and selection of optimal process parameters.

scholarly journals FUZZY DECISION MAKING METHOD BASED ON COCOSO WITH CRITIC FOR FINANCIAL RISK EVALUATION

2020 ◽  
Vol 26 (4) ◽  
pp. 695-724 ◽  
Author(s):  
Xindong Peng ◽  
Haihui Huang
Keyword(s):  
Decision Making ◽  
Risk Evaluation ◽  
Financial Risk ◽  
Score Function ◽  
Fuzzy Decision Making ◽  
Financial Risks ◽  
The Novel ◽  
Fuzzy Decision ◽  
Subjective Preference ◽  
Criteria Importance

The financial risk evaluation is critically vital for enterprises to identify the potential financial risks, provide decision basis for financial risk management, and prevent and reduce risk losses. In the case of considering financial risk assessment, the basic problems that arise are related to strong fuzziness, ambiguity and inaccuracy. q-rung orthopair fuzzy set (q-ROFS), portrayed by the degrees of membership and non-membership, is a more resultful tool to seize fuzziness. In this article, the novel q-rung orthopair fuzzy score function is given for dealing the comparison problem. Later, the and operations are explored and their interesting properties are discussed. Then, the objective weights are calculated by CRITIC (Criteria Importance Through Inter-criteria Correlation). Moreover, we present combined weights that reflects both subjective preference and objective preference. In addition, the q-rung orthopair fuzzy MCDM (multi-criteria decision making) algorithm based on CoCoSo (Combined Compromise Solution) is presented. Finally, the feasibility of algorithm is stated by a financial risk evaluation example with corresponding sensitivity analysis. The salient features of the proposed algorithm are that they have no counter-intuitive case and have a stronger capacity in differentiating the best alternative.

scholarly journals A Hybrid MCDM Model to Evaluate and Classify Outsourcing Providers in Manufacturing

Symmetry ◽  
2020 ◽  
Vol 12 (12) ◽  
pp. 1962
Author(s):  
Ching-Fang Liaw ◽  
Wan-Chi Jackie Hsu ◽  
Huai-Wei Lo
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Decision Makers ◽  
Operating Costs ◽  
Visual Rating ◽  
Proposed Model ◽  
Ideal Solutions ◽  
Four Levels ◽  
Criteria Importance ◽  
Outsourcing Strategies

It is a common practice for enterprises to use outsourcing strategies to reduce operating costs and improve product competitiveness. Outsourcing providers or operators need to be aware of environmental protection and make products comply with the restrictions of international environmental regulations. Therefore, this study proposes a set of multiple criteria decision-making (MCDM) approaches for systematic green outsourcing evaluation. First, a team of experts is established to discuss mutually dependent relationships among criteria, and the decision-making trial and evaluation laboratory (DEMATEL) technique is applied to generate subjective influential weights. Then, a large amount of data from outsourcing providers is collected, and the criteria importance through the intercriteria correlation (CRITIC) method is used to obtain the objective influential weights. Finally, a novel classifiable technique for ordering preference based on similarity to ideal solutions (classifiable TOPSIS) is proposed to integrate the performance of green outsourcing providers and classify them into four levels. The classifiable TOPSIS improves the shortcomings of conventional TOPSIS and establishes a visual rating diagram to help decision-makers to distinguish the performance of outsourcing providers more clearly. Taking a Taiwanese multinational machine tool manufacturer as an example, the performance of outsourcing providers related to manufacturing activities was investigated to demonstrate the effectiveness and applicability of this proposed model.

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