RELATIVE RATIO METHOD FOR MULTIPLE ATTRIBUTE DECISION MAKING PROBLEMS
The multiple attribute decision making (MADM) is an important research field in decision science and operations research. Recently, several commonly used methods such as the TOPSIS and the VIKOR were proposed to solve the MADM problems. The TOPSIS and VIKOR are based on aggregating functions representing closeness to the ideal, which originated in the compromise programming method. The aim of this paper is to develop a new methodology called the relative ratio (RR) for the MADM problems. In this RR method, a compromise solution/alternative is determined based on the concept that the chosen alternative should be as close to the ideal solution as possible and as far away from the negative-ideal solution as possible simultaneously. The computation principle and procedure of the RR method are described in detail in this paper. Moreover comparisons of the RR method with the TOPSIS as well as the VIKOR are made theoretically and illustrated with a numerical example.
Multiple attribute decision making, compromise solution, attribute weight, relative ratio (RR) method, VIKOR, TOPSIS, decision information
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