A novel iterative approach to determining compromise rankings

Abstract

In many cases involving multi-criteria decisionmaking, we need compromise solutions. This is a crucial aspect due to the specific characteristics of decision problems. However, the proposed compromise approaches are often complex to verify to what extent they are reliable. Therefore, this paper proposes a new iterative approach based on decision option evaluations from selected multi-criteria decision-making methods, i.e., TOPSIS, VIKOR, and SPOTIS. The obtained results have high similarity among each other, which was measured by Spearman's weighted correlation coefficient and WS ranking similarity coefficient. Furthermore, the proposed approach showed high efficiency and adaptability of the generated results.