Multi-criteria decision making via multivariate quantiles

Daniel Kostner ()
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Daniel Kostner: Free University of Bozen-Bolzano

Mathematical Methods of Operations Research, 2020, vol. 91, issue 1, No 5, 73-88

Abstract: Abstract A novel approach for solving a multiple judge, multiple criteria decision making (MCDM) problem is proposed. The presence of multiple criteria leads to a non-total order relation. The ranking of the alternatives in such a framework is done by reinterpreting the MCDM problem as a multivariate statistics one and by applying the concepts in Hamel and Kostner (J Multivar Anal 167:97–113, 2018). A function that ranks alternatives as well as additional functions that categorize alternatives into sets of “good” and “bad” choices are presented. The paper shows that the properties of these functions ensure a reasonable decision making process.

Keywords: Multi criteria decision making; Set optimization; Multivariate statistics; Multivariate quantiles (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s00186-019-00675-9

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