2006
DOI: 10.15388/informatica.2006.158
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Evaluation of Ranking Accuracy in Multi-Criteria Decisions

Abstract: 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… Show more

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Cited by 173 publications
(77 citation statements)
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“…An assumption made with regard to TOPSIS is that the criteria are monotonically increasing or decreasing. TOPSIS requires normalization, because the parameters or criteria of the products generally consist of incongruous dimensions [51,52].…”
Section: Theory and Limitation Of Topsismentioning
confidence: 99%
“…An assumption made with regard to TOPSIS is that the criteria are monotonically increasing or decreasing. TOPSIS requires normalization, because the parameters or criteria of the products generally consist of incongruous dimensions [51,52].…”
Section: Theory and Limitation Of Topsismentioning
confidence: 99%
“…In this step, the initial measured values of the criteria are converted to nondimensional relative values, with proportionality of values remaining unchanged. (Zavadskas et al, 2006).…”
Section: Step 2 Stakeholders' Objectives and Indicators Selectionmentioning
confidence: 99%
“…An assumption of TOPSIS is that the criteria are monotonically increasing or decreasing. Normalisation is usually required as the parameters or criteria are often of incongruous dimensions in multi-criteria problems (Yoon and Hwang, 1995;Zavadskas et al, 2006). Compensatory methods such as TOPSIS allow trade-offs between criteria, where a poor result in one criterion can be negated by a good result in another criterion.…”
Section: Topsismentioning
confidence: 99%