Evaluation of Ranking Accuracy in Multi-Criteria Decisions

The paper analyses the problem of ranking accuracy in multiple criteria decision-making (MCDM) methods. The methodology for measuring the accuracy of determining the relative significance of alternatives as a function of the criteria values is developed. An algorithm of the Technique for the Order Preference by Similarity to Ideal Solution (TOPSIS) that applies criteria values' transformation through a normalization of vectors and the linear transformation is considered. A computational experiment is presented, to compare the results of a multiple criteria analysis and the ranking accuracy in a particular situation. Key words: decision-making, multi-criteria optimisation, ranking accuracy, TOPSIS, vector normalization, linear normalization, standard deviation, confidence interval, construction management.

• Type: Journal
• Year: 2006
• Where: INFORMATICALT
• Authors: Edmundas Kazimieras Zavadskas, Algimantas Zakarevicius, Jurgita Antucheviciene
• Keywords: INFORMATICALT 2006, Multiple Criteria, Multiple Criteria Analysis, Ranking Accuracy