A multi-view approach to multi-criteria decision making

Francisco J. dos Santos and André L.V. Coelho

International Journal of Information and Decision Sciences, 2023, vol. 15, issue 1, 1-26

Abstract: In this paper, we investigate a new approach to multi-criteria decision making (MCDM) centred upon the application of canonical correlation analysis (CCA) to distinct groups of judgement criteria. By resorting to MV-MCDM (multi-view multi-criteria decision making), one can estimate reliable values for criteria weights via CCA for multi-view multi-criteria problems; reduce the dimensionality of the decision matrix by considering only one of the available views; and easily extend well-known MCDM methods, such as simple additive weighting (SAW) and technique for order of preferences by similarity to ideal solution (TOPSIS). MV-MCDM also allows the adoption of different aggregation methods (such as the Choquet integral and a new heuristic based on radar charts) to generate the overall scores of the alternatives. A numerical example with the multi-view versions of SAW and TOPSIS demonstrates the applicability of the novel approach.

Keywords: multi-criteria decision making; MCDM; multi-view canonical correlation analysis; CCA; TOPSIS; simple additive weighting; SAW; Choquet integral. (search for similar items in EconPapers)
Date: 2023
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