Multi-criteria decision making based on relative measures

Meimei Xia (), Jian Chen and Juliang Zhang

Annals of Operations Research, 2015, vol. 229, issue 1, 811 pages

Abstract: According to regret theory, decision makers may care more about the relative values than the absolute values of alternatives. Generally, the relative values of two alternatives can be reflected from different views. Based on Abelian linearly ordered group, the relative measure is firstly proposed to calculate the relative values from different views. Then two methods are developed to calculate the relative values of alternatives, and are proved to obtain the same result under some conditions on the aggregation operator and the relative measure. Furthermore, based on the relative values of each pair of alternatives, several models are established to identify four types of optimal alternatives. The relationship of these four types of optimal alternatives is also discussed. The proposed methods can be considered as a general framework of the existing ones and can be further extended to identify the most inferior alternatives. Several examples are given to illustrate the proposed methods. Copyright Springer Science+Business Media New York 2015

Keywords: Multi-criteria decision making; Abelian linearly ordered group; Relative measure; Regret theory (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10479-015-1847-z (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:annopr:v:229:y:2015:i:1:p:791-811:10.1007/s10479-015-1847-z

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479

DOI: 10.1007/s10479-015-1847-z

Access Statistics for this article

Annals of Operations Research is currently edited by Endre Boros

More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().