Comparison of Decision-Making Methods Comparison of Decision-Making Methods

Elena Kostenko (), Volodymyr Kuznichenko () and Volodymyr Lapshyn ()
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Elena Kostenko: Manifest Communications Inc.
Volodymyr Kuznichenko: Department of Mathematical Methods in Economics And Information Technologies, Kharkiv Institute of Finances USUFIT
Volodymyr Lapshyn: Department of Mathematical Methods in Economics And Information Technologies, Kharkiv Institute of Finances USUFIT

Research in Applied Economics, 2014, vol. 6, issue 3, 17-27

Abstract: A comparison is made between the most commonly used decision-making method (AHP), and two methods developed by the authors (APM and CSM). It is shown that the newly developed methods do not change the correlations and types of inequalities between the global priorities of the alternatives when the number of alternatives changes. This differentiates them from the AHP, which does change them. Also, unlike the AHP, which uses pair comparison matrices of criteria relative to goals and alternatives, the developed methods use the creation of pair-comparison matrices of criteria relative to alternatives and of alternatives relative to criteria. In order to obtain a result, it is enough to perform an expert analysis of all the alternatives and one criteria, or otherwise of all the criteria and one alternative. The other pair-comparison matrices are obtained either from the conditions of inverse symmetric matrices, or from the proportionality of weight correlations. The results of the developed methods fully coincide.

Keywords: Decision making; Hierarchy analysis; Matrix; Stochastic procedure (search for similar items in EconPapers)
Date: 2014
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