Decision makers are often faced with several conflicting alternatives. How do they evaluate trade-offs when there are more than three criteria? To help people make optimal decisions, scholars in the discipline of multiple criteria decision making (MCDM) continue to develop new methods for structuring preferences and determining the correct relative weights for criteria. A compilation of modern decision-making techniques,
Multiple Attribute Decision Making: Methods and Applications
focuses on the fuzzy set approach to multiple attribute decision making (MADM). Drawing on their experience, the authors bring together current methods and real-life applications of MADM techniques for decision analysis. They also propose a novel hybrid MADM model that combines DEMATEL and analytic network process (ANP) with VIKOR procedures.
The first part of the book focuses on the theory of each method and includes examples that can be calculated without a computer, providing a complete understanding of the procedures. Methods include the analytic hierarchy process (AHP), ANP, simple additive weighting method, ELECTRE, PROMETHEE, the gray relational model, fuzzy integral technique, rough sets, and the structural model. Integrating theory and practice, the second part of the book illustrates how methods can be used to solve real-world MADM problems. Applications covered in the book include:
AHP to select planning and design services for a construction project
TOPSIS and VIKOR to evaluate the best alternative-fuel vehicles for urban areas
ELECTRE to solve network design problems in urban transportation planning
PROMETEE to set priorities for the development of new energy systems, from solar thermal to hydrogen energy
Fuzzy integrals to evaluate enterprise intranet web sites
Rough sets to make decisions in insurance marketing
Helping readers understand how to apply MADM techniques to their decision making, this book is suitable for undergraduate and graduate students as well as practitioners.