OWA-based aggregation operations in multi-expert MCDM model

This paper presents an analysis of multi-expert multi-criteria decision making (ME-MCDM) model based on the ordered weighted averaging (OWA) operators. Two methods of modeling the majority opinion are studied as to aggregate the experts' judgments, in which based on the induced OWA operators. T...

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Detalles Bibliográficos
Autores: Yusoff, Binyamin, Merigó Lindahl, José M., Ceballos Hornero, David
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2017
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/125399
Acceso en línea:https://hdl.handle.net/2445/125399
Access Level:acceso abierto
Palabra clave:Presa de decisions multicriteri
Matemàtica financera
Incertesa
Multiple criteria decision making
Business mathematics
Uncertainty
Descripción
Sumario:This paper presents an analysis of multi-expert multi-criteria decision making (ME-MCDM) model based on the ordered weighted averaging (OWA) operators. Two methods of modeling the majority opinion are studied as to aggregate the experts' judgments, in which based on the induced OWA operators. Then, an overview of OWA with the inclusion of different degrees of importance is provided for aggregating the criteria. An alternative OWA operator with a new weighting method is proposed which termed as alternative OWAWA (AOWAWA) operator. Some extensions of ME-MCDM model with respect to two-stage aggregation processes are developed based on the classical and alternative schemes. A comparison of results of different decision schemes then is conducted. Moreover, with respect to the alternative scheme, a further comparison is given for different techniques in integrating the degrees of importance. A numerical example in the selection of investment strategy is used as to exemplify the model and for the analysis purpose.