Euclidean Best–Worst Method and Its Application

Huseyin Kocak, Atalay Caglar and Gulin Zeynep Oztas
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Huseyin Kocak: Quantitative Methods Division, Department of Business, Administration, Pamukkale University, 20160 Denizli, Turkey
Atalay Caglar: #x2020;Operations Research Division, Department of Econometrics, Pamukkale University, 20160 Denizli, Turkey
Gulin Zeynep Oztas: Quantitative Methods Division, Department of Business, Administration, Pamukkale University, 20160 Denizli, Turkey

International Journal of Information Technology & Decision Making (IJITDM), 2018, vol. 17, issue 05, 1587-1605

Abstract: In this study, we propose Euclidean best–worst method (Euclidean BWM), which does not require any other extra calculations and analysis compared to nonlinear Chebyshev BWM. Using numerical examples, we illustrate and discuss the efficiency of the Euclidean BWM based on minimizing Euclidean norm instead of Chebyshev norm and using the consistency index matrix. Obtained results show that Euclidean BWM is an efficient tool resulting in reliable unique solutions, regardless of the number of the criteria, comparing with the linear and nonlinear model of the Chebyshev BWM. Moreover, we develop a MAPLE package “BWM” using only pairwise comparison vectors as the arguments to obtain the unique solution of a given problem by both the Euclidean BWM and linear model of Chebyshev BWM.

Keywords: Multi-criteria decision-making (MCDM); multi-attribute decision-making (MADM); pairwise comparison; best–worst method (BWM); Euclidean norm; MAPLE (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0219622018500323

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