A Method Based on SMAA-Topsis for Stochastic Multi-Criteria Decision Making and a Real-World Application

Deniz Okul (), Cevriye Gencer () and Emel Kizilkaya Aydogan ()
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Deniz Okul: Department of Operations Research, Defence Science Institute, Turkish Military Academy, Bakanlıklar/Ankara, 06120, Turkey
Cevriye Gencer: Department of Industrial Engineering, Faculty of Engineering, Gazi University, Maltepe/Ankara, 06570, Turkey
Emel Kizilkaya Aydogan: Department of Industrial Engineering, Faculty of Engineering, Erciyes University, Melikgazi/Kayseri, 38039, Turkey

International Journal of Information Technology & Decision Making (IJITDM), 2014, vol. 13, issue 05, 957-978

Abstract: Stochastic multi-criteria acceptability analysis (SMAA-2) and the technique for order preference by similarity to ideal solution (TOPSIS) are methods for evaluating alternatives with multiple criteria. SMAA is a method that is used for solving multi-criteria decision-making problems with uncertain, inaccurate information, and does not require preference information from the decision makers. The TOPSIS method is based on the principle of determining a solution with the shortest distance to the ideal solution and the greatest distance from the negative-ideal solution. This paper proposes a new method, SMAA-TOPSIS, by combining the SMAA and TOPSIS methods. The SMAA-TOPSIS method was executed for two problems: drug benefit-risk analysis and machine gun selection. This paper found that TOPSIS could be used with uncertain and arbitrarily distributed values for weights and criteria measurements by using a combination of SMAA and TOPSIS. Also, we obtained clearer and consistent SMAA outputs.

Keywords: Stochastic multi-criteria decision making; acceptability analysis; TOPSIS (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (11)

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DOI: 10.1142/S0219622014500175

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