The Analysis of the Quality of the Results Obtained with the Methods of Multi-Criteria Decisions
Journal Title: Technological and Economic Development of Economy - Year 2009, Vol 15, Issue 4
Abstract
For many decades we have been dealing with problems of multi-criteria decisions. Numerous methods have been developed in this field and new methods are continuously being created. In the light of a great number of methods currently proposed, it is difficult to gain a profound overview. Comparisons on the performance of various methods are done to a small extent only. When applying the methods, in some cases many mathematical operations are performed, which renders it impossible to sufficiently assess their effect with such a complexity. It is therefore aimed at analysing the peculiarities of several methods in a critical review and to give hints for possible consequences. The analysis is primarily concentrated on the normalisation of indices in the mapping to the interval [1; 0] or [1; ~ 0]. This includes linear functions (the relative difference and the calculation with interval boundaries) and non-linear functions (the hyperbolic function, the quadratic and cubic function, the square root and the logarithmic function). With the critical review, the possibility is offered to the decision maker to better assess the quality of his solution.
Authors and Affiliations
Friedel Peldschus
Independent Auditing Development Tendencies
Different countries of the world face some misunderstandings or even scandals concerning the inappropriate information about financial problems in different companies, which, in its turn, decreases society’s confidence i...
Investigation of Human Factors while Solving Multiple Criteria Optimization Problems in Computer Network
The aim of this investigation is to analyze a class of multiple criteria optimization problems that are solved by human-computer interaction, using a computer network. A multiple criteria problem is iterated by interacti...
Dependence of Multi-Criteria Evaluation Result on Choice of Preference Functions and Their Parameters
A considerable usage increase of multicriteria methods is recently observed in the area of quantitative analysis of social or economical phenomena. The PROMETHEE methods are discerned from other multi-criteria methods by...
Aspects of the National Urban Policy Management under Conditions of Integrated Planning
Lithuanian cities architecture politics development and strategic aims implementation are impossible without global integrated accomplishing systems of country management and official plan observation (monitoring, operat...
Ontology-Based Multi-Agent System to Support Business Users and Management
For some decision processes a significant added value is achieved when enterprises’ internal Data Warehouse (DW) can be integrated and combined with external data gained from web sites of competitors and other relevant W...