Applying linguistic information and intersection concept to improve effectiveness of multi-criteria decision analysis technology

Ping-Feng Pai, Chen-Tung Chen () and Wei-Zhan Hung
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Ping-Feng Pai: Department of Information Management, National Chi Nan University, 1, University Road, Nantou County 54561, Taiwan
Chen-Tung Chen: Department of Information Management, National United University, 1, Lienda Road, Miaoli County 36003, Taiwan
Wei-Zhan Hung: Department of International Business Studies, National Chi Nan University, 1, University Road, Nantou County 54561, Taiwan

International Journal of Information Technology & Decision Making (IJITDM), 2014, vol. 13, issue 02, 291-315

Abstract: Multi-criteria decision-making(MCDM) is one of the most widely used decision methodologies. Because every kind of MCDM approach has unique strengths and weaknesses, it is difficult to determine which kind of MCDM approach is best suited to a specific problem. Therefore, a new decision-making method is proposed herein, based on linguistic information and intersection concepts; it is called thelinguistic intersection method(LIM). Notably, the linguistic variables are more suited to expressing the opinion of each decision maker. There are four MCDM methods: TOPSIS, ELECTRE, PROMETHEE and VIKOR which are included in the LIM. First, each MCDM approach is used to determine the ranking order of all alternatives in accordance with the linguistic evaluations of decision makers. Then, the intersection set is determined with regard to the better alternatives of all methods. Third, the final ranking order of alternatives in the intersection set can be determined by the proposed method. Lastly, an example is given to describe the procedure of the proposed method. In order to verify the effectiveness of the proposed method, a simulation test is provided to compare the LIM with the linguistic MCDM method. According to the comparison results, the proposed method is more stable in determining the ranking order of all decision alternatives.

Keywords: MCDM; linguistic variable; linguistic intersection method; simulation (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1142/S0219622014500436

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