A novel multi-criteria decision analysis technique incorporating demanding essential characteristics of existing MCDA techniques

Abstract

This paper has proposed a novel Multi-Criteria Decision Analysis (MCDA) technique that considers relationships among the criteria, relationships among the alternatives, relationships among the criteria and the alternatives, the uncertainty or dilemma that the decision makers face in their decision-making, the entropy among the criteria. These characteristics seem to be the essential characteristics of various MCDA techniques as evident from the existing literature. The dilemma of the decision makers have been captured by the use of Hesitant Fuzzy Elements; the information content among the criteria have been captured by applying the concept of entropy through the application of a technique called IDOCRIW. Relationships have been determined by calculating the covariances among the criteria and among the alternatives. A kind of sensitivity analysis, rank reversal method has been performed to verify the effectiveness of the proposed technique. The proposed method has also been compared with four different types of already existing MCDA techniques, AHP, MAUT, MACBETH and MOORA. Both the sensitivity analysis and the comparison with other methods establish the effectiveness of the proposed technique.