Ranking based on optimal points multi-criteria decision-making method
Grey Systems: Theory and Application
ISSN: 2043-9377
Article publication date: 29 November 2018
Issue publication date: 28 January 2019
Abstract
Purpose
The purpose of this paper is to propose a new MCDM method called ranking based on optimal points (RBOP).
Design/methodology/approach
By employing two abstract groups of alternatives as the optimum alternatives and an optimal alternative, in order to offer the most desirable alternative, RBOP imitates human behavior in the decision-making process. RBOP policy is to find the best alternative through measuring alternatives distances from optimum alternatives and optimal alternative, thus, the best alternative must be sitting on the closest distance to its optimum points and the closest distance to the optimal points simultaneously.
Findings
In this paper, the author introduced a ten-step gray form of RBOP which is applied in a case of buying running shoes and results compared to the existing MCDM methods. Results showed the considerable differences.
Originality/value
Generally, in order to select the best alternative(s), and to aid decision makers (DMs) to make better decisions for the real-world problems, MCDM methods evaluate a number of alternatives via a number of criteria through the proposed mathematical algorithms. Frequently, for the direct impact of the DMs on the decision-making process, MCDM methods have inflexible algorithms. They only allow DMs to make an impact on the criteria analysis. The inflexibility emerges as a problem when perfect information is available for DMs and MCDM final results are not desirable. The process of the new method completely depends on DMs’ decisions, their interpretation of the periphery and their personal impressions. Hence, the output of RBOP is not necessarily the best alternative, but it offers the most desirable alternative to DM.
Keywords
Citation
Zakeri, S. (2019), "Ranking based on optimal points multi-criteria decision-making method", Grey Systems: Theory and Application, Vol. 9 No. 1, pp. 45-69. https://doi.org/10.1108/GS-09-2018-0040
Publisher
:Emerald Publishing Limited
Copyright © 2018, Emerald Publishing Limited