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VIKOR Method
The VIKOR method is a multi-criteria decision making (MCDM) method. It was originally developed by Serafim Opricovic in 1979 to solve decision problems with conflicting and noncommensurable (different units) criteria. It assumes that compromise is acceptable for conflict resolution and that the decision maker wants a solution that is the closest to the ideal, so the alternatives are evaluated according to all established criteria. VIKOR then ranks alternatives and determines the solution named compromise that is the closest to the ideal. History The idea of compromise solution was introduced in MCDM by Po-Lung Yu in 1973, and by Milan Zeleny. S. Opricovic had developed the basic ideas of VIKOR in his Ph.D. dissertation in 1979, and an application was published in 1980. The name VIKOR appeared in 1990 from Serbian: VIseKriterijumska Optimizacija I Kompromisno Resenje, that means: Multicriteria Optimization and Compromise Solution, with pronunciation: vikor. The real application ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-criteria Decision Making
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] |
Compromise
To compromise is to make a deal between different parties where each party gives up part of their demand. In arguments, compromise means finding agreement through communication, through a mutual acceptance of terms—often involving variations from an original goal or desires. Defining and finding the best possible compromise is an important problem in fields like game theory and the voting system. Research indicates that suboptimal compromises are often the result of negotiators failing to realize when they have interests that are completely compatible with those of the other party, leading them to settle for suboptimal agreements. Mutually better outcomes can often be found by careful investigation of both parties' interests, especially if done early in negotiations. The compromise solution of a multicriteria decision making or multi-criteria decision analysis problem that is the closest to the ideal could be determined by the VIKOR method, which provides a maximum utility of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TOPSIS
The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method, which was originally developed by Ching-Lai Hwang and Yoon in 1981 with further developments by Yoon in 1987, and Hwang, Lai and Liu in 1993. TOPSIS is based on the concept that the chosen alternative should have the shortest geometric distance from the positive ideal solution (PIS) and the longest geometric distance from the negative ideal solution (NIS). A dedicated book in the fuzzy context was published in 2021 Description It is a method of compensatory aggregation that compares a set of alternatives, normalising scores for each criterion and calculating the geometric distance between each alternative and the ideal alternative, which is the best score in each criterion. The weights of the criteria in TOPSIS method can be calculated using Ordinal Priority Approach, Analytic hierarchy process In the theory of decision making, the analytic hierarchy p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manhattan Distance
Taxicab geometry or Manhattan geometry is geometry where the familiar Euclidean distance is ignored, and the distance between two point (geometry), points is instead defined to be the sum of the absolute differences of their respective Cartesian coordinates, a distance function (or Metric (mathematics), metric) called the ''taxicab distance'', ''Manhattan distance'', or ''city block distance''. The name refers to the island of Manhattan, or generically any planned city with a rectangular grid of streets, in which a taxicab can only travel along grid directions. In taxicab geometry, the distance between any two points equals the length of their shortest grid path. This different definition of distance also leads to a different definition of the length of a curve, for which a line segment between any two points has the same length as a grid path between those points rather than its Euclidean length. The taxicab distance is also sometimes known as ''rectilinear distance'' or distanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chebyshev Distance
In mathematics, Chebyshev distance (or Tchebychev distance), maximum metric, or L∞ metric is a metric defined on a real coordinate space where the distance between two points is the greatest of their differences along any coordinate dimension. It is named after Pafnuty Chebyshev. It is also known as chessboard distance, since in the game of chess the minimum number of moves needed by a king to go from one square on a chessboard to another equals the Chebyshev distance between the centers of the squares, if the squares have side length one, as represented in 2-D spatial coordinates with axes aligned to the edges of the board. For example, the Chebyshev distance between f6 and e2 equals 4. Definition The Chebyshev distance between two vectors or points ''x'' and ''y'', with standard coordinates x_i and y_i, respectively, is :D(x,y) = \max_i(, x_i -y_i, ).\ This equals the limit of the L''p'' metrics: :D(x,y)=\lim_ \bigg( \sum_^n \left, x_i - y_i \^p \bigg)^, hence it i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fuzzy Sets
Fuzzy or Fuzzies may refer to: Music * Fuzzy (band), a 1990s Boston indie pop band * Fuzzy (composer), Danish composer Jens Vilhelm Pedersen (born 1939) * Fuzzy (album), ''Fuzzy'' (album), 1993 debut album of American rock band Grant Lee Buffalo * "Fuzzy", a song from the 2009 ''Collective Soul (2009 album), Collective Soul'' album by Collective Soul * "Fuzzy", a song from ''Poppy.Computer'', the debut 2017 album by Poppy * Fuzzy, an Australian events company that organises Listen Out, a multi-city Australian music festival Nickname * Faustina Agolley (born 1984), Australian television presenter, host of the Australian television show ''Video Hits'' * Fuzzy Haskins (1941–2023), American singer and guitarist with the doo-wop group Parliament-Funkadelic * Fuzzy Hufft (1901−1973), American baseball player * Fuzzy Knight (1901−1976), American actor * Andrew Levane (1920−2012), American National Basketball Association player and coach * Robert Alfred Theobald (1884−1957), Uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rank Reversals In Decision-making
In decision-making, a rank reversal is a change in the rank ordering of the preferability of alternative possible decisions when, for example, the method of choosing changes or the set of other available alternatives changes. The issue of rank reversals lies at the heart of many debates in decision-making and multi-criteria decision-making, in particular. Unlike most other computational procedures, it is hard to tell if a particular decision-making method has derived the correct answer or not. Such methods analyze a set of alternatives described in terms of some criteria. They determine which alternative is the best one, or they provide relative weights of how the alternatives perform, or just how the alternatives should be ranked when all the criteria are considered simultaneously. This is exactly where the challenge with decision making exists. Often it is hard, if not practically impossible, to determine whether a ''correct'' answer has been reached or not. With other com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-criteria Decision Analysis
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] |
Pairwise Comparison (psychology)
Pairwise comparison generally is any process of comparing entities in pairs to judge which of each entity is preference, preferred, or has a greater amount of some quantitative property, or whether or not the two entities are identical. The method of pairwise comparison is used in the scientific study of preferences, attitudes, voting systems, social choice, public choice, requirements engineering and multiagent AI systems. In psychology literature, it is often referred to as paired comparison. Prominent psychometrician L. L. Thurstone first introduced a scientific approach to using pairwise comparisons for measurement in 1927, which he referred to as the law of comparative judgment. Thurstone linked this approach to psychophysical theory developed by Ernst Heinrich Weber and Gustav Fechner. Thurstone demonstrated that the method can be used to order items along a dimension such as preference or importance using an interval-type scale. Mathematician Ernst Zermelo (1929) first de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
