Multi Criteria Decision Making (MCDM) is an advanced field of Operation Research; recently MCDM methods are efficient and common tools for performance evaluation in many areas such as finance and economy. The aim of this study is to show one of applications of mathematics in real word. This study with considering value based measures and accounting based measures simultaneously, provided a hybr...

Multiple Criteria Decision Making (MCDM) shows signs of becoming a maturing field. There are four quite distinct families of methods: (i) the outranking, (ii) the value and utility theory based, (iii) the multiple objective programming, and (iv) group decision and negotiation theory based methods. Fuzzy MCDM has basically been developed along the same lines, although with the help of fuzzy set ...

In the real-world problems, we are likely confronted with some alternatives that need to be evaluated with respect to multiple conflicting criteria. Multi-criteria decision-making (MCDM) refers to making decisions in such a situation. There are many methods and techniques available for solving MCDM problems. The evaluation based on distance from average solution (EDAS) method is an efficient mu...

In the last few years, several Multi-criteria Decision Making (MCDM) methods have been proposed. One of these methods, known as TODIM (an acronym in Portuguese for Interative Multi-criteria Decision Making), has been extended to uncertain MCDM problems. Firstly, using fuzzy numbers and recently using intuitionistic fuzzy numbers. The recently developed intuitionistic fuzzy TODIM, for short, IFT...

TOPSIS is one of the major techniques in dealing with multiple criteria decision making (MCDM) problems, and Belief Structure (BS) model and Fuzzy BS model have been used successfully for uncertain MCDM with incompleteness, impreciseness or ignorance. In this paper, the TOPSIS method with Fuzzy BS model is proposed to solve Group Belief MCDM problems. Firstly, the Group Belief MCDM problem is s...

The Fuzzy Analytic Network Process (ANP) is generally used for solving multicriteria decision making (MCDM) problems by considering the pairwise comparison between criteria/sub-criteria, and inner/outer dependencies among criteria. Linguistic expressions are used for experts’ judgements, and these judgements are imprecise and vague. Hence, incorporating fuzziness with multi-criteria decision ma...

The success of an industry depends on optimization of product cost and for achieving above goal Internal selection should be efficient. In the present study an efficient Multi-Criteria Decision Making (MCDM) approach has been proposed for quality evaluation and performance appraisal in vendor selection. Vendor selection is a Multi-Criteria Decision Making (MCDM) problem influenced by several pa...

This chapter aims to delineate measurement of level-of-satisfaction during decision making under intelligent fuzzy environment. Before proceeding with the multi-criteria decisionmaking model (MCDM), we attempt to build a co-relation among decision support systems (DSS), decision theories and fuzziness of information. The so-relation shows the necessity of incorporating decision makers’ (DM) lev...

This paper suggests ranking alternatives under fuzzy MCDM (multiple criteria decision making) via an centroid based ranking approach, where criteria are classified to benefit qualitative, benefit quantitative and cost quantitative ones. The ratings of alternatives versus qualitative criteria and the importance weights of all criteria are assessed in linguistic values represented by fuzzy number...

-The multi-criteria decision making (MCDM)problems with fuzzy preference information on alternatives are essential problems of the importance of weighting and ranking. In order to solve this problem, Analytical Hierarchy Process(AHP) and fuzzy comprehensive evaluation method are coupled to form a new approach named Fuzzy-AHP.This method is different from the traditional FAHP,which used to facil...