Interactive approaches for discrete alternative multiple criteria decision making with monotone utility functions

Article Abstract:

Interactive methodologies for solving the discrete alternative multiple criteria decision making problem are introduced. An algorithm is presented which identifies the decision maker's (DM) most preferred alternative provided that the DM only has a monotonic utility function. The algorithm improves the decision making process by using the ideal points of the criteria subspaces to eliminate alternatives. A more efficient version of the algorithm especially for the case of a monotonic quasiconcave function is also developed. The computational results generated by both algorithms are found to be favorable. Finally, a general algorithm is developed that first ascertains the DM's utility function type and then uses the methodology that is most suitable to this type.

Analysis, Utility theory, Utility functions

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A Pre-ference Ranking Organisation Method (The PROMETHEE Method for Multiple Criteria Decision Making)

Article Abstract:

Principles for a new family of outranking methods are given. The main aim of the proposed PROMETHEE approach is to be as easily understood as possible by the decision-maker. It is based on extensions of the notion of criterion. Six possible extensions are considered. These extensions can easily be identified by the decision-maker because the parameters to be defined (at most 2) have an economic significance. A valued outranking graph is constructed by using a preference index. Two possibilities are considered to solve the ranking problem by using this valued graph. PROMETHEE I provides a partial preorder and PROMETHEE ll a total preorder on the set of the possible actions. (Reprinted by Permission of Publisher.)

Management science, Decision theory, Criteria, Decision Making

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A preference ranking organisation method (the PROMETHEE method for multiple criteria decision-making)

Article Abstract:

Principles are given for a new family of outranking methods, the PROMETHEE approach, which is based on extensions of the notion of criterion. Six possible extensions, which can be easily identified by the decision maker, are considered. Using a preference index, a valued outranking graph is constructed, and two possibilities are considered to solve the ranking problem by using this valued graph. Practical applications show that the PROMETHEE methods are easily accepted and understood by practitioners and seem to be the easiest approach for solving a multicriteria problem.

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