Multiple criteria decision making with reliability of assessment

Chao Fu (), Min Xue and Wenjun Chang
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Chao Fu: Hefei University of Technology
Min Xue: Hefei University of Technology
Wenjun Chang: Hefei University of Technology

Annals of Operations Research, 2022, vol. 312, issue 1, No 8, 157 pages

Abstract: Abstract The weight and reliability of an individual assessment are two important concepts considered in the evidential reasoning (ER) approach. Through analyzing the existing studies on the combination of individual assessments with both their weights and reliabilities considered in the ER context, their deficiencies are identified in accordance with two principles. One principle is developed in the situation where a specific individual assessment is fully unreliable and the other is developed in the situation where all individual assessments are fully reliable. To address the deficiencies, this paper proposes a new method. In the method, a combination process that takes into account both the weights and reliabilities of individual assessments simultaneously is developed to generate the overall assessment. It is theoretically proven that the combination process satisfies the two principles. Three ways are designed to help a decision maker to flexibly provide individual assessments and determine their reliabilities. A strategic project evaluation problem for an enterprise located in Changzhou, Jiangsu, China is analyzed using the proposed method as a case study to demonstrate its validity and applicability. These are highlighted by its comparison with two existing methods.

Keywords: Multiple criteria decision making; Reliabilities of individual assessments; Obtainment of individual assessments; Combination of individual assessments; Evaluation of strategic project (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10479-021-04249-z

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