Weighting methods for multi-criteria decision making technique

Abstract

Determining criteria weights is a problem that arises frequently in many multi-criteria decision-making (MCDM) techniques. Taking into account the fact that the weights of criteria can significantly influence the outcome of the decision-making process, it is important to pay particular attention to the objectivity factors of criteria weights. This paper provides an overview of different weighting methods applicable to multi-criteria optimization techniques. There are a lot of concept been reported from the literature that are very useful in solving multicriteria problems. The present work emphasized on the use of these weighting methods in determining the criteria preference of each criterion to bring about desirable properties and in order to establish and satisfy a multiple measure of performance across all the criteria selected by identifying the best options possible. And from the results, it shows that subjective weighting methods are easy and straight forward in terms of their computations than the objective weighting methods which derived their information from each criterion by adopting a mathematical function to determine the weights without the decision-maker's input,. This can be seen from the pairwise comparison which gives an internal storage and random access memory of a smart phone a weight value of 0.33 and 0.22 respectively as they have the highest criteria weights.

VASMA Weighting: Survey-Based Criteria Weighting Methodology that Combines ENTROPY and WASPAS-SVNS to Reflect the Psychometric Features of the VAS Scales

“…Since the subjective judgments are noticeably affected by the knowledge and experience of the decision-makers, most of the time, weights determined by subjective approaches neglect the objective information [38]. The integrated preference elicitation approaches can be used to achieve the more accurate values of the criteria weights [39].…”

Techno-economic analysis of aniline production via amination of phenol

“…The following criteria were taken into consideration: rate law availability as described for heterogeneous catalytic systems, reaction temperature, reaction pressure, selectivity, measured yield, phenol phase and ammonia:phenol molar ratio. The weighting factors were calculated according to the analytical hierarchical process ( Odu, 2019 ; Partovi, 2007 ), a method widely used in industry to systematize decision making and decrease subjectivity when a large number of variables must be evaluated.…”

Design of a Monitoring Tool for Eco-Regions

“…The aggregated score will result from an average of the different values. A weighted average calculation, similar to the subjective multicriteria weight assignment (Odu, 2019), could be also calculated to account for the most influential performance indicators, given the different Eco-Regions contexts. The weighted average should therefore result from a consultation with local stakeholders representing different perspectives and interests.…”