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On the Universality and Contributions of Multiple Criteria Decision Making: A Systems-Based Approach

โœ Scribed by Yacov Y. Haimes

Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
306 KB
Volume
18
Category
Article
ISSN
1057-9214

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โœฆ Synopsis

ABSTRACT

This paper highlights the omnipresence of the philosophy, theory, methodology and deployment of multiple criteria decision making (MCDM) in essentially every aspect of our lives. It also highlights the specific philosophical, theoretical, methodological, and deployment perspectives that MCDM has influenced, and how MCDM has thus shaped the decisionโ€making process. The following five themes demonstrate the universality of multiple objectives and their impact on the complex decisionโ€making process: (i) the centrality of the states of the system in MCDM; (ii) the centrality of tradeโ€offs in MCDM and the !โ€constraint method; (iii) the centrality of the time frame in MCDM; (iv) the centrality of risk and uncertainty in MCDM; and (v) the contributions of MCDM to decision analysis. An epilogue concludes the paper. Copyright ยฉ 2011 John Wiley & Sons, Ltd.

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