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MCDA
Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). It is also known as known as multi-attribute decision making (MADM), multiple attribute utility theory, multiple attribute value theory, multiple attribute preference theory, and multi-objective decision analysis. Conflicting criteria are typical in evaluating options: cost or price is usually one of the main criteria, and some measure of quality is typically another criterion, easily in conflict with the cost. In purchasing a car, cost, comfort, safety, and fuel economy may be some of the main criteria we consider – it is unusual that the cheapest car is the most comfortable and the safest one. In portfolio management, managers are interested in getting high returns while simultaneously reduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action. Research about decision-making is also published under the label problem solving, particularly in European psychological research. Overview Decision-making can be regarded as a problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge and beliefs. Tacit knowledge is often used to fill the gaps in complex decision-making processes. Usua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Analysis
Decision analysis (DA) is the Academic discipline, discipline comprising the philosophy, methodology, and professional practice necessary to address important Decision making, decisions in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the maximum Expected_utility_hypothesis, expected-utility action axiom, axiom to a well-formed representation of the decision; and for translating the formal representation of a decision and its corresponding recommendation into insight for the Decision making, decision maker, and other corporate and non-corporate Stakeholder (corporate), stakeholders. History In 1931, mathematical philosopher Frank_Ramsey_(mathematician), Frank Ramsey pioneered the idea of Probability_interpretations#Subjectivism, subjective probability as a Expected utility hypothesis#Ramsey-theore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grey Relational Analysis
Grey relational analysis (GRA) was developed by Deng Julong of Huazhong University of Science and Technology. It is one of the most widely used models of grey system theory. GRA uses a specific concept of information. It defines situations with no information as black, and those with perfect information as white. However, neither of these idealized situations ever occurs in real world problems. In fact, situations between these extremes, which contain partial information, are described as being grey, hazy or fuzzy. A variant of GRA model, Taguchi-based GRA model, is a popular optimization method in manufacturing engineering. Definition Let X_0=\left(x_0\left(1\right),x_0\left(2\right),\dots ,x_0\left(n\right)\right) is an ideal data set andX_k=\left(x_k\left(1\right),x_k\left(2\right),\dots ,x_k\left(n\right)\right),k\mathrmm are the alternative data sets of the same length. The Grey Relational Grade (GRG) between the two data sets is given by _=\int^n_ where the Grey Relationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goal Programming
Goal programming is a branch of multiobjective optimization, which in turn is a branch of multi-criteria decision analysis (MCDA). It can be thought of as an extension or generalisation of linear programming to handle multiple, normally conflicting objective measures. Each of these measures is given a goal or target value to be achieved. Deviations are measured from these goals both above and below the target. Unwanted deviations from this set of target values are then minimised in an achievement function. This can be a vector or a weighted sum dependent on the goal programming variant used. As satisfaction of the target is deemed to satisfy the decision maker(s), an underlying satisficing philosophy is assumed. Goal programming is used to perform three types of analysis: # Determine the required resources to achieve a desired set of objectives. # Determine the degree of attainment of the goals with the available resources. # Providing the best satisfying solution under a varying ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grey System Theory
Grey relational analysis (GRA) was developed by Deng Julong of Huazhong University of Science and Technology. It is one of the most widely used models of grey system theory. GRA uses a specific concept of information. It defines situations with no information as black, and those with perfect information as white. However, neither of these idealized situations ever occurs in real world problems. In fact, situations between these extremes, which contain partial information, are described as being grey, hazy or fuzzy. A variant of GRA model, Taguchi-based GRA model, is a popular optimization method in manufacturing engineering. Definition Let X_0=\left(x_0\left(1\right),x_0\left(2\right),\dots ,x_0\left(n\right)\right) is an ideal data set andX_k=\left(x_k\left(1\right),x_k\left(2\right),\dots ,x_k\left(n\right)\right),k\mathrmm are the alternative data sets of the same length. The Grey Relational Grade (GRG) between the two data sets is given by _=\int^n_ where the Grey Relational ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision-making Software
Decision-making software (DM software) is software for computer applications that help individuals and organisations make choices and take decisions, typically by ranking, prioritizing or choosing from a number of options. An early example of DM software was described in 1973.Dyer, JS (1973), "A time-sharing computer program for the solution of the multiple criteria problem", ''Management Science'', 19: 1379-83.Wallenius, J, Dyer, JS, Fishburn, PC, Steuer, RE, Zionts, S and Deb, K (1992), "Multiple criteria decision making, multiattribute utility theory: The next ten years", ''Management Science'', 38: 645-54. Before the advent of the World Wide Web, most DM software was spreadsheet-based, with the first web-based DM software appearing in the mid-1990s.Koksalan, M, Wallenius, J, and Zionts, S, ''Multiple Criteria Decision Making: From Early History to the 21st Century'', World Scientific Publishing: Singapore, 2011. Nowadays, many DM software products (mostly web-based) are availabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William W
William is a masculine given name of Germanic origin. It became popular in England after the Norman conquest in 1066,All Things William"Meaning & Origin of the Name"/ref> and remained so throughout the Middle Ages and into the modern era. It is sometimes abbreviated "Wm." Shortened familiar versions in English include Will or Wil, Wills, Willy, Willie, Bill, Billie, and Billy. A common Irish form is Liam. Scottish diminutives include Wull, Willie or Wullie (as in Oor Wullie). Female forms include Willa, Willemina, Wilma and Wilhelmina. Etymology William is related to the German given name ''Wilhelm''. Both ultimately descend from Proto-Germanic ''*Wiljahelmaz'', with a direct cognate also in the Old Norse name ''Vilhjalmr'' and a West Germanic borrowing into Medieval Latin ''Willelmus''. The Proto-Germanic name is a compound of *''wiljô'' "will, wish, desire" and *''helmaz'' "helm, helmet".Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxfor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information And Computation
''Information and Computation'' is a closed-access computer science journal published by Elsevier (formerly Academic Press). The journal was founded in 1957 under its former name ''Information and Control'' and given its current title in 1987. , the current editor-in-chief is David Peleg. The journal publishes 12 issues a year. History ''Information and Computation'' was founded as ''Information and Control'' in 1957 at the initiative of Leon Brillouin and under the editorship of Leon Brillouin, Colin Cherry and Peter Elias. Murray Eden joined as editor in 1962 and became sole editor-in-chief in 1967. He was succeeded by Albert R. Meyer in 1981, under whose editorship the journal was rebranded ''Information and Computation'' in 1987 in response to the shifted focus of the journal towards theory of computation and away from control theory. In 2020, Albert Mayer was succeeded by David Peleg as editor-in-chief of the journal. Indexing All articles from the ''Information and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ordinal Data
Ordinal data is a categorical, statistical data type where the variables have natural, ordered categories and the distances between the categories are not known. These data exist on an ordinal scale, one of four Level of measurement, levels of measurement described by Stanley Smith Stevens, S. S. Stevens in 1946. The ordinal scale is distinguished from the nominal scale by having a ''ranking''. It also differs from the interval scale and ratio scale by not having category widths that represent equal increments of the underlying attribute. Examples of ordinal data A well-known example of ordinal data is the Likert scale. An example of a Likert scale is: Examples of ordinal data are often found in questionnaires: for example, the survey question "Is your general health poor, reasonable, good, or excellent?" may have those answers coded respectively as 1, 2, 3, and 4. Sometimes data on an interval scale or ratio scale are grouped onto an ordinal scale: for example, individuals whos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PAPRIKA
Paprika is a spice made from dried and ground red peppers, traditionally ''capsicum annuum''. It can have varying levels of Pungency, heat, but the peppers used for hot paprika tend to be milder and have thinner flesh than those used to produce chili powder. The milder, sweet paprika is mostly composed of the fruit of the pepper with most of the seeds removed; whereas some seeds and stalks are retained in the peppers used for hotter paprika. Paprika, like all capsicum varieties and their derivatives, is descended from wild ancestors from the Amazon River, cultivated in ancient times in South, Central and North America, in particular Mexican Plateau, central Mexico. The peppers were introduced to Europe, via Spanish Empire, Spain and Portuguese Empire, Portugal, in the sixteenth century. The trade in paprika expanded from the Iberian Peninsula to Africa and Asia and ultimately reached central Europe through the Balkans. European cuisines in which paprika is a frequent and major ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
