A Hesitant Multiplicative Best-Worst Method for Multiple Criteria Decision-Making

Yejun Xu () and Dayong Wang
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Yejun Xu: Tianjin University
Dayong Wang: Hohai University

Chapter Chapter 5 in Advances in Best-Worst Method, 2023, pp 61-75 from Springer

Abstract: Abstract The classical Best-Worst Method (BWM) and its expansion form in the multiple criteria decision-making problem under different backgrounds are widely used to calculate the weights of criteria. The traditional BWM uses the accurate value based on Saaty’s scale to describe a decision maker (DM)’s preferences. However, a DM may be unsure about his preference and may give several possible values to express his preferences. In this situation, the hesitant multiplicative elements may be truly reflected the DM’s preference relation. This paper incorporates the BWM, the hesitant multiplicative preference relations (HMPR), and proposes HMBWM. Three different models are proposed to determine the weights from hesitant multiplicative best-to-others (HMBO) and hesitant multiplicative others-to-worst (HMOW) vectors. Finally, a case study of choosing commercial endowment insurance products is constructed to illustrate the practicality and correctness of the proposed model.

Keywords: Best-Worst Method; Hesitant multiplicative preference relation; Pairwise comparison; Multiple criteria decision making (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-40328-6_5

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