scholarly journals Decision theory with multiple criteria: an aplication of ELECTRE IV and TODIM to SEBRAE/RJ

2009 ◽  
Vol 29 (3) ◽  
pp. 577-590 ◽  
Author(s):  
Luís Alberto Duncan Rangel ◽  
Luiz Flávio Autran Monteiro Gomes ◽  
Rogério Amadel Moreira

This paper presents an application of two methods of Multi-Criteria Decision Analysis (MCDA), ELECTRE IV and TODIM, in order to tackle the problem of ranking projects with important economic and social consequences in the Rio de Janeiro State. These projects are ranked under the presence of quantitative and qualitative criteria. ELECTRE IV is a method of the French School of MCDA whose use does not rely on knowledge of criteria weights. TODIM, on the other hand, is a method that is based on the paradigm of Prospect Theory and that has elements of both the French and the American School of MCDA. Although ranks obtained by both methods were different, the same project was ranked as the best alternative according in both. The practical experience described in this paper has suggested that the use of MCDA methods in the ranking of project can significantly clarify the decision making process.

2016 ◽  
Vol 16 (1) ◽  
pp. 19 ◽  
Author(s):  
Jin Su Jeong ◽  
Lorenzo García Moruno ◽  
David González Gómez ◽  
Steve Carver

<p>Suitable location planning of rural buildings is a complex process to be in harmony with landscapes. This paper presents a multi-criteria spatial decision analysis approach using GIS techniques. The research aim is to evaluate the study area suitability to sustainably site tourism rural commercial buildings with landscapes. The criteria weights were decided by the authors with relevant literatures, regional polices and European Union (EU) directives and experts’ discussion. The results reveal the most suitable areas for siting them, not to find a single suitable solution. They explain the weighting flexibility strengths of the application in the decision making process.</p>


Mathematics ◽  
2021 ◽  
Vol 9 (13) ◽  
pp. 1554
Author(s):  
Dragiša Stanujkić ◽  
Darjan Karabašević ◽  
Gabrijela Popović ◽  
Predrag S. Stanimirović ◽  
Muzafer Saračević ◽  
...  

The environment in which the decision-making process takes place is often characterized by uncertainty and vagueness and, because of that, sometimes it is very hard to express the criteria weights with crisp numbers. Therefore, the application of the Grey System Theory, i.e., grey numbers, in this case, is very convenient when it comes to determination of the criteria weights with partially known information. Besides, the criteria weights have a significant role in the multiple criteria decision-making process. Many ordinary multiple criteria decision-making methods are adapted for using grey numbers, and this is the case in this article as well. A new grey extension of the certain multiple criteria decision-making methods for the determination of the criteria weights is proposed. Therefore, the article aims to propose a new extension of the Step-wise Weight Assessment Ratio Analysis (SWARA) and PIvot Pairwise Relative Criteria Importance Assessment (PIPRECIA) methods adapted for group decision-making. In the proposed approach, attitudes of decision-makers are transformed into grey group attitudes, which allows taking advantage of the benefit that grey numbers provide over crisp numbers. The main advantage of the proposed approach in relation to the use of crisp numbers is the ability to conduct different analyses, i.e., considering different scenarios, such as pessimistic, optimistic, and so on. By varying the value of the whitening coefficient, different weights of the criteria can be obtained, and it should be emphasized that this approach gives the same weights as in the case of crisp numbers when the whitening coefficient has a value of 0.5. In addition, in this approach, the grey number was formed based on the median value of collected responses because it better maintains the deviation from the normal distribution of the collected responses. The application of the proposed approach was considered through two numerical illustrations, based on which appropriate conclusions were drawn.


2012 ◽  
Vol 2012 ◽  
pp. 1-24 ◽  
Author(s):  
Mona Riabacke ◽  
Mats Danielson ◽  
Love Ekenberg

Comparatively few of the vast amounts of decision analytical methods suggested have been widely spread in actual practice. Some approaches have nevertheless been more successful in this respect than others. Quantitative decision making has moved from the study of decision theory founded on a single criterion towards decision support for more realistic decision-making situations with multiple, often conflicting, criteria. Furthermore, the identified gap between normative and descriptive theories seems to suggest a shift to more prescriptive approaches. However, when decision analysis applications are used to aid prescriptive decision-making processes, additional demands are put on these applications to adapt to the users and the context. In particular, the issue of weight elicitation is crucial. There are several techniques for deriving criteria weights from preference statements. This is a cognitively demanding task, subject to different biases, and the elicited values can be heavily dependent on the method of assessment. There have been a number of methods suggested for assessing criteria weights, but these methods have properties which impact their applicability in practice. This paper provides a survey of state-of-the-art weight elicitation methods in a prescriptive setting.


Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peng Li ◽  
Ju Liu ◽  
Cuiping Wei ◽  
Jian Liu

PurposeChina is a critical factor for constructing an all-round well-off society. Infrastructure construction, especially high-grade highways, in the western area is an essential component of the strategy for large-scale development of west China. It is crucial to evaluate investment projects for high-grade highways and select the best one. Testing investment projects and selecting the best one can be recognized as a multicriteria decision-making (MCDM) problem. In this process, decision-makers (DMs) usually face with uncertain information because of complicated decision environment or their limited knowledge.Design/methodology/approachA new Evaluation based on the Distance from Average Solution (EDAS) for PFS based on the DEMATEL is proposed: The authors offer a new score function and prove some properties for the score function. They put forward a novel Decision-making Trial and Evaluation Laboratory (DEMATEL) method for PFS to analyze the relations of criteria and get criteria weights. Considering the bounded rationality of DM, the authors propose a new EDAS method for PFS based on prospect theory. They apply their proposed approach to a western city's actual case in selecting a suitable project for building a high-grade highway.FindingsBy comparison, the authors can observe that our method has some traits: (1) considering bounded rationality of DM; (2) fewer computation; (3) having the ability to obtain the relation of criteria and finding the critical factor in the decision system.Originality/valueIn this paper, the authors propose a new EDAS method for PFS based on the DEMATEL technique. They transform PFS into crisp numbers by their proposed new score function for PFN to make the decision process more convenient. Then, the authors use the DEMATEL method to obtain the relationship between criteria and criteria weights. Furthermore, they propose a new EDAS method for PFS based on DEMATEL to reduce the computational complexity. Finally, they apply our method to a real case and compare our method with two traditional methods.


2016 ◽  
Vol 4 ◽  
pp. 39-46 ◽  
Author(s):  
Rashila Deshar ◽  
Madan Koirala

In mountainous country Nepal having large populations of culturally unique indigenous peoples poses threats of glaciers retreat and resource bases change. The indigenous people living in mountain plays the major role in carbon management. Further, the role and responsibilities of men and women varies differently in natural resource conservation and management. However, their participation in decision-making and benefit sharing is poor. The majority of women have unequal access to productive resources and decision-making process. Therefore, study on gender based agro-pastoral activities, their contribution on carbon management and decision-making process were carried out in Tamang ethnic group of Gatlang VDC of Rasuwa district, Nepal. For the purpose, 30 households were selected purposively. Similarly, four focus group discussions were carried out among the separate group of women, men and group consisting both men and women. Carbon management types: input carbon and output carbon activities were studied on men and women. In total, 23 different agro-pastorals related activities were found, among them 57% of work were supported by women, 39% by both men and women, and 4% by men only. With respect to fuel-wood, in average, 10 kg per day fuelwood is necessary for one household. The use of biomass for cooking emits chocking smoke and causes indoor air pollution. All these disadvantages lead to carbon emission which might lead to health deterioration of women by increasing the risk of cardiovascular diseases and respiratory disorders. The average fuel-wood requirement was found to be 840 kg/capita/year which are found to be higher than the other physiographic regions of Nepal. This is due to use of fuel-wood as only source of energy in the study area. Out of total respondent, it was observed that 30% literate men allow their wife to make joint decision on the major household issues. Similarly, 3% literate women respondents took the major decision by their own or jointly with their husbands. On the other hand, 30% illiterate men and 37% illiterate women either didn’t allow their wife or don’t participate in major decision-making process. Further, it is revealed from the chi square test that literacy plays major role in decision making (x2 = 5.625, df =1, p=0.017). Similarly, educated women actively join together with their husband in decision making. Moreover, women have high contribution in carbon input and output activities. Therefore, the women education should be promoted to make their equal and strong participation in decision making, which ultimately contribute in carbon input and output activities, through their greater roles in livestock husbandry and fuel-wood management relative to men. Further, importance of women’s role in carbon management should be given greater prominence.


2000 ◽  
Vol 09 (04) ◽  
pp. 459-471 ◽  
Author(s):  
JUNG-HSIEN CHIANG

In this approach, we investigate the fuzzy γ-models for decision analysis and making. This methodology utilizes fuzzy γ-model as an information aggregation operator. It provides several advantages due to the fact that the input to each model is the evidence supplied by the degree of satisfaction of sub-criteria and the output is the aggregated evidence. We also generalize fuzzy γ-models as a hierarchical network in this work. Thus, the decision making process is to aggregate and propagate the evidence information through such a hierarchical network. This trainable network is able to perceive and interpret complex decisions by using those fuzzy models. The simulation study examines the learning behaviors of the fuzzy γ-models using two numerical examples.


2008 ◽  
Vol 2 (1) ◽  
pp. 1-23 ◽  
Author(s):  
Christine Chauvin ◽  
J. P. Clostermann ◽  
Jean-Michel Hoc

In this study, the authors aim to determine the impact of situation awareness (SA) in the decision-making process of “young” watch officers of a Merchant Marine training facility. The trainees were shown an ambiguous interaction situation in which they could choose among several actions. The results show that Level 1 SA (perception of the elements in the environment) tends to be of secondary importance in decision making. The major variables of the decision-making process are the interpretation of the rules and anticipation of the other vessel's intentions. Moreover, four different trainee “profiles” emerged. The main difference between them lies in the distance at which they decided to change course, the direction of this maneuver (port or starboard), the way in which they interpreted the other vessel's intentions (is it going to change course?), and whether the trainees referred to the rules. Of the trainees, 55% performed a maneuver that was against regulations, and 34% did so in an unsafe manner. This result provides an incentive to rethink the training course to put more stress on recognizing prototypical situations and choosing which actions to take in situations such as the one presented here.


2016 ◽  
Vol 16 (4) ◽  
pp. 1019-1033 ◽  
Author(s):  
Mariana Madruga de Brito ◽  
Mariele Evers

Abstract. This paper provides a review of multi-criteria decision-making  (MCDM) applications to flood risk management, seeking to highlight trends and identify research gaps. A total of 128 peer-reviewed papers published from 1995 to June 2015 were systematically analysed. Results showed that the number of flood MCDM publications has exponentially grown during this period, with over 82 % of all papers published since 2009. A wide range of applications were identified, with most papers focusing on ranking alternatives for flood mitigation, followed by risk, hazard, and vulnerability assessment. The analytical hierarchy process (AHP) was the most popular method, followed by Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS), and Simple Additive Weighting (SAW). Although there is greater interest in MCDM, uncertainty analysis remains an issue and was seldom applied in flood-related studies. In addition, participation of multiple stakeholders has been generally fragmented, focusing on particular stages of the decision-making process, especially on the definition of criteria weights. Therefore, addressing the uncertainties around stakeholders' judgments and endorsing an active participation in all steps of the decision-making process should be explored in future applications. This could help to increase the quality of decisions and the implementation of chosen measures.


Author(s):  
Sady Darcy Da Silva-Junior ◽  
Edimara Mezzomo Luciano

In this study, the objective is to perform content analysis on articles of a reliable database, dealing with the prospect theory and the risks involved in the decision making process, evaluating some criteria for the theoretical and methodological approaches that allow a joint analysis and comparative. Therefore, a search in ProQuest database was performed which resulted in 15 articles that were submitted to content analysis process, based on the evaluation of nine factors identified by researchers. Among the results highlight the critical attitude to the prospect theory, in contrast to the assertion of his representative capacity of real situations and application in various situations.


2015 ◽  
Vol 1 (7) ◽  
pp. 518
Author(s):  
Rizkary Roslianti ◽  
Leo Herlambang

Islamic stocks is one of the most preffered investment type by Muslim investors. In the decision making process, the investors have to considered the financial reports and stock analysis. This study aims to investigate the effect of fundamental factors that represented by Return on Assets, Debt to Equity Ratio and Total Assets Turnover toward stock return.This study used a quantitative approach using secondary data, they are financial statements and stock return companies listed on Indeks Saham Syariah Indonesia years 2011-2012. This study used a significance level of 5%.Based on the regression analysis results, it indicates that Return on Assets variable has a very significant effect on the stock return. On the other hand, Debt to Equity Ratio variable and Total Assets Turnover variable do not have significant effect to the stock return. Simultaneously, Return on Assets, Debt to Equity Ratio and Total Assets Turnover have significant effect to stock return.


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