A NEW COMBINATIVE DISTANCE-BASED ASSESSMENT(CODAS) METHOD FOR MULTI-CRITERIA DECISION-MAKING
Mehdi KESHAVARZ Ghorabaee (m.keshavarz_gh@yahoo.com),
Edmundas Kazimieras Zavadskas (edmundas.zavadskas@vgtu.lt),
Zenonas Turskis (zenonas.turskis@vgtu.lt) and
Jurgita Antucheviciene (jurgita.antucheviciene@vgtu.lt)
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Mehdi KESHAVARZ Ghorabaee: Department of Industrial Management, Faculty of Management and Accounting, Allameh Tabataba’i University, Tehran, Iran
Edmundas Kazimieras Zavadskas: Department of Construction Technology and Management, Faculty of Civil Engineering, Vilnius Gediminas Technical University, Lithuania
Zenonas Turskis: Department of Construction Technology and Management, Faculty of Civil Engineering, Vilnius Gediminas Technical University, Lithuania
Jurgita Antucheviciene: Department of Construction Technology and Management, Faculty of Civil Engineering, Vilnius Gediminas Technical University, Lithuania
ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, 2016, vol. 50, issue 3, 25-44
Abstract:
A key factor to attain success in any discipline, especially in a field which requires handling large amounts of information and knowledge, is decision making. Most real-world decision-making problems involve a great variety of factors and aspects that should be considered. Making decisions in such environments can often be a difficult operation to perform. For this reason, we need multi-criteria decision-making (MCDM) methods and techniques, which can assist us for dealing with such complex problems. The aim of this paper is to present a new COmbinative Distance-based ASsessment (CODAS) method to handle MCDM problems. To determine the desirability of an alternative, this method uses the Euclidean distance as the primary and the Taxicab distance as the secondary measure, and these distances are calculated according to the negative- ideal point. The alternative which has greater distances is more desirable in the CODAS method. Some numerical examples are used to illustrate the process of the proposed method. We also perform a comparative sensitivity analysis to examine the results of CODAS and compare it by some existing MCDM methods. These analyses show that the proposed method is efficient, and the results are stable.
Keywords: Multi-criteria decision-making; MCDM; MADM; Euclidean distance; Taxicab distance; CODAS. (search for similar items in EconPapers)
JEL-codes: C02 C44 C61 C63 L6 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (50)
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Persistent link: https://EconPapers.repec.org/RePEc:cys:ecocyb:v:50:y:2016:i:3:p:25-44
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