Many multi-criteria decision making (MCDM) methods have been proposed to handle uncertain decision making problems. Most of them are based on fuzzy numbers and they are not able to cope with risk in decision making. In recent years, some MCDM methods based on prospect theory to handle risk MCDM problems have been developed. In this paper, we propose the Fuzzy TODIM for group decision making, so...

Recent research has recognised that multicriteria decision making (MCDM) should take account of uncertainty, risk and confidence. This paper takes this research forward by using linguistic variables and triangular fuzzy numbers to model the decision maker’s (DM) risk and confidence attitudes in order to define a more complete MCDM solution. To illustrate the computation process and demonstrate ...

Multiple Criteria Decision Making (MCDM) models make preference decisions over multiple attributes’ alternatives available, which in most of the cases conflict among themselves. On the other hand, the classic MCDM model assumes that the decision maker has a pre-defined fixed set of criteria, when taking a decision, and is presented with a clear picture of all available alternatives. This classi...

Many societal decisions involve complexity and conflicting objectives. Preferences in such environments can be expected to change as situations evolve. In this paper, we propose a procedure that incorporates MCDM into system dynamics modeling to handle dynamic multiple criteria situations, which we name dynamic MCDM. A case of urban infrastructure is presented to illustrate the procedure. Dynam...

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 ...

The selection of the most suitable machining process for a given machining application is not straightforward and requires consideration of a number of techno-technological and economic criteria. Therefore is often viewed as a multi-criteria decision making (MCDM). This paper is focused on multi-criteria economic analysis of various machining processes by applying recently developed MCDM method...

Those who conduct integrated assessments (IAs) are aware of the need to explicitly consider multiple criteria and uncertainties when evaluating policies for preventing global warming. MCDM methods are potentially useful for understanding tradeoffs and evaluating risks associated with climate policy alternatives. A difficulty facing potential MCDM users is the wide range of different techniques ...

The process of multiple criteria decision making (MCDM) is of determining the best choice among all of the probable alternatives. The problem of supplier selection on which decision maker has usually vague and imprecise knowledge is a typical example of multi criteria group decision-making problem. The conventional crisp techniques has not much effective for solving MCDM problems because of imp...

The purpose of this paper is to present an alternative of a hybrid method based on Saaty’s Analytical Hierarchy Process and on the Technique for Order Preference by using the Similarity to Ideal Solution method (AHP-TOPSIS) and, based on the AHP and its use of pairwise comparisons, to extend it to a new method called α-D MCDMTOPSIS (α-Discounting Method for multi-criteria decision making-TOPSIS...

In modern business world group decision-making is becoming an extremely important activity. Recent research on computerized group decision support has focused extensively on supporting people co-located in place and time. There is a need, however, for more research focused on asynchronous group decision support systems (GDSS). Multicriteria decision-making (MCDM) theory has produced a wide rang...