Application of a fuzzy multi-criteria decision-making model for shipping company performance evaluation

Tsung-Yu Chou and Gin-Shuh Liang

Maritime Policy & Management, 2001, vol. 28, issue 4, 375-392

Abstract: Combining fuzzy set theory, Analytic Hierarchy Process (AHP) and concept of entropy, a fuzzy Multiple Criteria Decision-Making (MCDM) model for shipping company performance evaluation is proposed. First, the AHP is used to construct subjective weights for all criteria and sub-criteria. Then, linguistic values characterized by triangular fuzzy numbers and trapezoidal fuzzy numbers are used to denote the evaluation values of all alternatives with respect to various subjective and objective criteria. Finally, the aggregation fuzzy assessment of different shipping companies is ranked to determine the best selection. Utilizing this fuzzy MCDM model, the decision-maker's fuzzy assessment and the trade-off between various evaluations criteria can be taken into account in the aggregation process, thus ensuring more effective and accurate decision-making.

Date: 2001
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DOI: 10.1080/03088830110049951

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