Accuracy, complexity and interpretability are very important in credit classification. However, most approaches cannot perform well in all the three aspects simultaneously. The objective of this study is to put forward a classification approach named C-TOPSIS that can balance the three aspects well. C-TOPSIS is based on the rationale of TOPSIS (Technique for Order Preference by Similarity to Id...

Previous review papers on analytic hierarchy process (AHP) and TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) mainly focused on the application areas and paid scant attention to the framework development of AHP, TOPSIS and their hybrid methods. The purpose of this paper is to review the literature on analytic hierarchy process (AHP), type of scale used in AHP, modified ...

A simplified description of Fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Situation) is presented. We have adapted the TOPSIS description from existing Fuzzy theory literature and distilled the bare minimum concepts required for understanding and applying TOPSIS. An example has been worked out to illustrate the application of TOPSIS for a multi-criteria group decision maki...

One of the techniques used to support decisions in uncertain environments is the Fuzzy TOPSIS method. However, from crisp data, this method considers only one fuzzy set in their analysis, besides being a strictly mathematical optimization technique. This article proposes extensions to the original Fuzzy TOPSIS, exploring two distinct versions: to increase the method with the necessary resources...

In this study, we introduce a novel modified synthetic evaluation method (M-TOPSIS) based on the concept of original TOPSIS and calculate the distance between the alternatives and ‘optimized ideal reference point’ in the D D-plane. It could avoid rank reversals and solve the problem on evaluation failure that often occurs in original TOPSIS, so we believe that the mechanism of M-TOPSIS is more ...

Selection of a project among a set of possible alternatives is a difficult task that the decision maker (DM) has to face. In this paper, by using a fuzzy TOPSIS technique we propose a new method for a project selection problem. After reviewing four common methods of comparing investment alternatives (net present value, rate of return, benefit cost analysis and payback period) we use them as cri...

In order to resolve cases related to an alternative selection problems (MADM problems), various methods have been applied. Many methods are used to solve the MADM problems, which sometimes give different results. To resolve MADM problem, we can use AHP and TOPSIS methods. The advantages of AHP method are it can provide solutions through the analysis of quantitative and qualitative decision. In ...

Fuzzy Technique for Order Preference by Similarly to Ideal Solution (TOPSIS) is one of the most commonly used approaches in solving numerous multiple criteria decision making problems. It has been widely used in ranking of multiple alternatives with respect to multiple criteria with the superiority of fuzzy set type-1 and subjective weights. Recently, fuzzy TOPSIS has been merged with interval ...

Ranking competing alternatives in terms of their overall performance with respect to some criterions in fuzzy environment is possible by the use of fuzzy TOPSIS methodology using interval-valued fuzzy-sets concepts. This author presents an effective fuzzy multi-criteria method based upon the fuzzy model and the concepts of positive ideal and negative ideal solution points for prioritizing alter...

Purpose Making techniques PROMETHEE, direction of research in this emerging field. Design/Methodology/Approach: literature related to MCDM techniques PROMETHEE, ELECTRE, VIKOR and TOPSIS. Literature has been segregated to understand various issues and work related to MCDM techniques PROMETHEE, ELECTRE, VIKOR and TOPSIS. A detailed review is used to sort out the literature and develop the resear...