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...

This study simplifies the complicated metric distance method [L.S. Chen, C.H. Cheng, Selecting IS personnel using ranking fuzzy number by metric distance method, Eur. J. Operational Res. 160 (3) 2005 803–820], and proposes an algorithm to modify Chen’s Fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) [C.T. Chen, Extensions of the TOPSIS for group decision-making und...

TOPSIS is a multiple criteria method to identify solutions from a finite set of alternatives based upon simultaneous minimization of distance from an ideal point and maximization of distance from a nadir point. TOPSIS can incorporate relative weights of criterion importance. This paper reviews several applications of TOPSIS using different weighting schemes and different distance metrics, and c...

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...

An extension of TOPSIS (technique for order performance by similarity to ideal solution), a multi-attribute decision making (MADM) technique, to a group decision environment is investigated. TOPSIS is a practical and useful technique for ranking and selection of a number of externally determined alternatives through distance measures. To get a broad view of the techniques used, we provide a few...

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 ...