A Handbook on Multi-Attribute Decision-Making Methods

A Handbook on Multi-Attribute Decision-Making Methods

by Omid Bozorg-Haddad, Babak Zolghadr-Asli, Hugo A. Loáiciga
Released April 2021
Publisher(s): Wiley
ISBN: 9781119563495

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Book description

Clear and effective instruction on MADM methods for students, researchers, and practitioners.

A Handbook on Multi-Attribute Decision-Making Methods describes multi-attribute decision-making (MADM) methods and provides step-by-step guidelines for applying them. The authors describe the most important MADM methods and provide an assessment of their performance in solving problems across disciplines. After offering an overview of decision-making and its fundamental concepts, this book covers 20 leading MADM methods and contains an appendix on weight assignment methods. Chapters are arranged with optimal learning in mind, so you can easily engage with the content found in each chapter. Dedicated readers may go through the entire book to gain a deep understanding of MADM methods and their theoretical foundation, and others may choose to review only specific chapters. Each standalone chapter contains a brief description of prerequisite materials, methods, and mathematical concepts needed to cover its content, so you will not face any difficulty understanding single chapters. Each chapter:

  • Describes, step-by-step, a specific MADM method, or in some cases a family of methods
  • Contains a thorough literature review for each MADM method, supported with numerous examples of the method's implementation in various fields
  • Provides a detailed yet concise description of each method's theoretical foundation
  • Maps each method's philosophical basis to its corresponding mathematical framework
  • Demonstrates how to implement each MADM method to real-world problems in a variety of disciplines

In MADM methods, stakeholders' objectives are expressible through a set of often conflicting criteria, making this family of decision-making approaches relevant to a wide range of situations. A Handbook on Multi-Attribute Decision-Making Methods compiles and explains the most important methodologies in a clear and systematic manner, perfect for students and professionals whose work involves operations research and decision making.

Table of contents

  1. Cover
  2. Wiley Series in Operations Research and Management Science
  3. Title Page
  4. Copyright
  5. Preface
  6. 1 An Overview of the Art of Decision‐making
    1. 1.1 Introduction
    2. 1.2 Classification of MADM Methods
    3. 1.3 Brief Chronicle of MADM Methods
    4. 1.4 Conclusion
    5. References
  7. 2 Simple Weighting Methods: Weighted Sum and Weighted Product Methods
    1. 2.1 Introduction
    2. 2.2 The Weighted Sum Method
    3. 2.3 The Weighted Product Method
    4. 2.4 Conclusion
    5. References
  8. 3 Analytic Hierarchy Process (AHP)
    1. 3.1 Introduction
    2. 3.2 The Hierarchical Structure
    3. 3.3 The Pairwise Comparison
    4. 3.4 Inconsistency
    5. 3.5 Quadruple Axioms of the AHP
    6. 3.6 Stepwise Description of the AHP Method
    7. 3.7 Conclusion
    8. References
  9. 4 Analytic Network Process (ANP)
    1. 4.1 Introduction
    2. 4.2 Network Vs. Hierarchy Structure
    3. 4.3 Stepwise Instruction to the ANP Method
    4. 4.4 Conclusion
    5. References
  10. 5 The Best–Worst Method (BWM)
    1. 5.1 Introduction
    2. 5.2 Basic Principles of the BWM
    3. 5.3 Stepwise Description of the BWM
    4. 5.4 Conclusion
    5. References
  11. 6 TOPSIS
    1. 6.1 Introduction
    2. 6.2 Stepwise Description of the TOPSIS Method
    3. 6.3 A Common Misinterpretation of TOPSIS Results
    4. 6.4 Conclusion
    5. References
  12. 7 VIKOR
    1. 7.1 Introduction
    2. 7.2 Stepwise Description of the VIKOR Method
    3. 7.3 Conclusion
    4. References
  13. 8 ELECTRE
    1. 8.1 Introduction
    2. 8.2 A Brief History of the ELECTRE Family of Methods
    3. 8.3 ELECTRE I
    4. 8.4 ELECTRE II
    5. 8.5 ELECTRE III
    6. 8.6 ELECTRE IV
    7. 8.7 Conclusion
    8. References
  14. 9 PROMETHEE
    1. 9.1 Introduction
    2. 9.2 Common Ground of the PROMETHEE Family
    3. 9.3 PROMETHEE I
    4. 9.4 PROMETHEE II
    5. 9.5 PROMETHEE III
    6. 9.6 PROMETHEE IV
    7. 9.7 Conclusion
    8. References
  15. 10 Superiority and Inferiority Ranking (SIR)
    1. 10.1 Introduction
    2. 10.2 Foundational Bases of the SIR Method
    3. 10.3 Stepwise Description of the SIR Method
    4. 10.4 Conclusion
    5. References
  16. 11 PAPRIKA
    1. 11.1 Introduction
    2. 11.2 Stepwise Description of PAPRIKA
    3. 11.3 Conclusion
    4. References
  17. 12 Gray Relational Analysis
    1. 12.1 Introduction
    2. 12.2 Gray System Theory: The Foundation and Basic Principles
    3. 12.3 Gray Relational Modeling
    4. 12.4 Gray Theory in Relation to MADM
    5. 12.5 Conclusion
    6. References
  18. A Weight Assignment Approaches
    1. Subjective Approach: Weighted Least Squares
    2. Objective Approach: Multiobjective Programming Model
    3. References
  19. B A Benchmark Example and a Comparison between Objective‐ and Subjective‐Based MADM Methods
    1. References
  20. Index
  21. End User License Agreement

Product information

  • Title: A Handbook on Multi-Attribute Decision-Making Methods
  • Author(s): Omid Bozorg-Haddad, Babak Zolghadr-Asli, Hugo A. Loáiciga
  • Release date: April 2021
  • Publisher(s): Wiley
  • ISBN: 9781119563495