Multiple Criteria Decision Analysis


Book Description

The field of multiple criteria decision analysis (MCDA), also termed multiple criteria decision aid, or multiple criteria decision making (MCDM), has developed rapidly over the past quarter century and in the process a number of divergent schools of thought have emerged. This can make it difficult for a new entrant into the field to develop a comprehensive appreciation of the range of tools and approaches which are available to assist decision makers in dealing with the ever-present difficulties of seeking compromise or consensus between conflicting inter ests and goals, i.e. the "multiple criteria". The diversity of philosophies and models makes it equally difficult for potential users of MCDA, i.e. management scientists and/or decision makers facing problems involving conflicting goals, to gain a clear understanding of which methodologies are appropriate to their particular context. Our intention in writing this book has been to provide a compre hensive yet widely accessible overview of the main streams of thought within MCDA. We aim to provide readers with sufficient awareness of the underlying philosophies and theories, understanding of the practi cal details of the methods, and insight into practice to enable them to implement any of the approaches in an informed manner. As the title of the book indicates, our emphasis is on developing an integrated view of MCDA, which we perceive to incorporate both integration of differ ent schools of thought within MCDA, and integration of MCDA with broader management theory, science and practice.




Research and Practice in Multiple Criteria Decision Making


Book Description

During the past two decades, the consideration of mUltiple objectives in modeling and decision making has grown by leaps and bounds. The nineties in particular have seen the emphasis shift from the dominance of single-objective modeling and optimization toward an emphasis on multiple objectives. The proceedings of this Conference epitomize these evolutionary changes and contribute to the important role that the tield of multiple criteria decision making (MCDM) now plays in planning, design, operational, management, and policy decisions. Of special interest are the contributions of MCDM to manufacturing engineering. For example, it has recently been recognized that optimal, single-objective solutions have often been pursued at the expense of the much broader applicability of designs and solutions that satisfy multiple objectives. In particular, the theme (MCDM and Its Worldwide Role in Risk-Based Decision Making) of the XIVth International Conference on Multiple Criteria Decision Making (Charlottesville, Virginia, USA, June 8-12, 1998) represents the growing importance of risk-cost-benefit analysis in decision making and in engineering design and manufacturing. In such systems, minimizing the of rare and extreme events emerges as an essential objective that risk complements the minimization of the traditional expected value of risk, along with the objectives attached to cost and performance. These proceedings include forty-five papers that were presented at the Conference. A variety of techniques have been proposed for solving multiple criteria decision-making problems. The emphasis and style of the different techniques largely reflect the fields of expertise of their developers.




Multi-criteria Decision Making Methods


Book Description

Multi-Criteria Decision Making (MCDM) has been one of the fastest growing problem areas in many disciplines. The central problem is how to evaluate a set of alternatives in terms of a number of criteria. Although this problem is very relevant in practice, there are few methods available and their quality is hard to determine. Thus, the question `Which is the best method for a given problem?' has become one of the most important and challenging ones. This is exactly what this book has as its focus and why it is important. The author extensively compares, both theoretically and empirically, real-life MCDM issues and makes the reader aware of quite a number of surprising `abnormalities' with some of these methods. What makes this book so valuable and different is that even though the analyses are rigorous, the results can be understood even by the non-specialist. Audience: Researchers, practitioners, and students; it can be used as a textbook for senior undergraduate or graduate courses in business and engineering.




Multiple Criteria Decision Making


Book Description

Multiple Criteria Decision Making (MCDM) is all about making choices in the presence of multiple conflicting criteria. MCDM has become one of the most important and fastest growing subfields of Operations Research/Management Science. As modern MCDM started to emerge about 50 years ago, it is now a good time to take stock of developments. This book aims to present an informal, nontechnical history of MCDM, supplemented with many pictures. It covers the major developments in MCDM, from early history until now. It also covers fascinating discoveries by Nobel Laureates and other prominent scholars.The book begins with the early history of MCDM, which covers the roots of MCDM through the 1960s. It proceeds to give a decade-by-decade account of major developments in the field starting from the 1970s until now. Written in a simple and accessible manner, this book will be of interest to students, academics, and professionals in the field of decision sciences.




Multiple Criteria Decision Making


Book Description

This book presents a broad range of innovative applications and case studies in all areas of management and engineering, including public administration, finance, marketing, engineering, transportation, and energy systems. It addresses issues related to problem structuring, preference modeling, and model construction, presenting a framework that provides clear decision-making support in practice. In addition, it includes hybrid and integrated techniques combining multiple criteria decision making (MCDM) with other analytical methods. The book reflects the growing impact of MCDM in the field of management science and operations research. Building on recent and established theoretical advances and presenting their applications in specific domains, it offers a comprehensive resource for researchers, graduate students and professionals alike.




Trends in Multiple Criteria Decision Analysis


Book Description

Multiple Criteria Decision Making (MCDM) is the study of methods and procedures by which concerns about multiple conflicting criteria can be formally incorporated into the management planning process. A key area of research in OR/MS, MCDM is now being applied in many new areas, including GIS systems, AI, and group decision making. This volume is in effect the third in a series of Springer books by these editors (all in the ISOR series), and it brings all the latest developments in MCDM into focus. Looking at developments in the applications, methodologies and foundations of MCDM, it presents research from leaders in the field on such topics as Problem Structuring Methodologies; Measurement Theory and MCDA; Recent Developments in Evolutionary Multiobjective Optimization; Habitual Domains and Dynamic MCDM in Changeable Spaces; Stochastic Multicriteria Acceptability Analysis; and many more chapters.




Multiple Criteria Decision Making Kyoto 1975


Book Description

This collection of articles aspires to be a permanent record of ideas which are likely to become important determinants in the future of management sciences. These papers were initially presented at the first session on Multiple Criteria Decision Making QMCDM) organized under the auspices of The Institute of Management Sciences (TIMS). All works were prepared by leading spokesmen for three generations of OR/MS change agents. Special mention must be made of the dynamic role which Professor Martin K. Starr played in organizing the program of the TIMS XXII International Meeting. In May, 1973, Professor Starr, who was President of TIMS and Program Chairman of the Kyoto conference, requested me to chair the MCDM session. Throughout the long period of formative inter change, Dr. Starr demonstrated his full and continuing support of both the event and the MCDM field. On July 25, 1975, surrounded by the rocky gardens of the Kyoto International Conference Hall (KICH), located on the shore of Takaraga Ike, we engaged in a day-long discussion of MCDM. Our "talk together in Kyoto" was a professional experience of the highest intensity for participants, speakers and audience alike.




Multiple Criteria Decision Analysis for Industrial Engineering


Book Description

This textbook presents methodologies and applications associated with multiple criteria decision analysis (MCDA), especially for those students with an interest in industrial engineering. With respect to methodology, the book covers (1) problem structuring methods; (2) methods for ranking multi-dimensional deterministic outcomes including multiattribute value theory, the analytic hierarchy process, the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), and outranking techniques; (3) goal programming,; (4) methods for describing preference structures over single and multi-dimensional probabilistic outcomes (e.g., utility functions); (5) decision trees and influence diagrams; (6) methods for determining input probability distributions for decision trees, influence diagrams, and general simulation models; and (7) the use of simulation modeling for decision analysis. This textbook also offers: · Easy to follow descriptions of how to apply a wide variety of MCDA techniques · Specific examples involving multiple objectives and/or uncertainty/risk of interest to industrial engineers · A section on outranking techniques ; this group of techniques, which is popular in Europe, is very rarely mentioned as a methodology for MCDA in the United States · A chapter on simulation as a useful tool for MCDA, including ranking & selection procedures. Such material is rarely covered in courses in decision analysis · Both material review questions and problems at the end of each chapter . Solutions to the exercises are found in the Solutions Manual which will be provided along with PowerPoint slides for each chapter. The methodologies are demonstrated through the use of applications of interest to industrial engineers, including those involving product mix optimization, supplier selection, distribution center location and transportation planning, resource allocation and scheduling of a medical clinic, staffing of a call center, quality control, project management, production and inventory control,and so on. Specifically, industrial engineering problems are structured as classical problems in multiple criteria decision analysis, and the relevant methodologies are demonstrated.




Multiple Criteria Decision Analysis: State of the Art Surveys


Book Description

MULTIPLE CRITERIA DECISION ANALYSIS: State of the Art Surveys is the most comprehensive work available to survey the state of the art in MCDA to date. Its 25 chapters are organized in eight parts and are written by 52 international leading experts. Each of these parts covers one of the central streams of multiple criteria decision analysis literature. These literature streams are: MCDA today, Foundations of MCDA, Our Ranking Methods, Multiattribute Utility Theory, Non-Classical MCDA Approaches, Multiobjective Mathematical Programming, Applications, and MCDM Software. The handbook presents the most up-to-date discussions on well-established methodologies and theories in the field, while systematically surveying emerging fields in MCDA such as conjoint measurement, fuzzy preferences, fuzzy integrals, rough sets, etc. MULTIPLE CRITERIA DECISION ANALYSIS: State of the Art Surveys is a valuable reference volume (more than 2000 references) for the field of decision analysis. It provides graduate students, researchers, and practitioners with a sweeping survey of MCDA theory, methodologies, and applications. It is a handbook that is particularly suitable for use in seminars in Decision Analysis, Decision Support, and Decision Theory.




Accretion Disks — New Aspects


Book Description

The most luminous compact objects are powered by accretion of mass. Accretion disks are the one common and fundamental element of these sources on widely different scales, ranging from close stellar binaries, galactic black holes and X-ray pulsars to active galactic nuclei (AGN). Key new developments in theory and observations, reviewed by experts in the field, are presented in this book. The contributions to the workshop cover the puzzles presented by the X-UV spectra of AGN and their variability, the recent numerical simulations of magnetic fields in disks, the remarkable behavior of the superluminal source 1915+105 and the "bursting pulsar" 1744-28, to mention a few of the topics.