Vida Maliene
Dispersion of relative importance values contributes to the ranking uncertainty: sensitivity analysis of Multiple Criteria Decision-Making methods
Maliene, Vida; Dixon-Gough, Robert; Malys, Naglis
Authors
Robert Dixon-Gough
Naglis Malys
Abstract
Multiple Criteria Decision-Making (MCDM) methods are widely used in research and industrial applications. These methods rely heavily on expert perceptions and are often sensitive to the assumptions made. The reliability and robustness of MCDM analysis can be further tested and verified by a computer simulation and sensitivity analysis. In order to address this, five different MCDM approaches, including Weighted Sum Model (WSM), Weighted Product Model (WPM), revised Analytic Hierarchy Process (rAHP), Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) and COmplex PRoportional ASsessment (COPRAS) are explored in the paper. Real data of the case study for assessing housing affordability are used for testing the robustness of alternative ranking and finding the most sensitive criteria to the change of criterion weight. We identify the most critical criteria for any and best ranking alternatives. The paper highlights the significance of sensitivity analysis in assessing the robustness and reliability of MCDM outcomes. Furthermore, randomly generated and model-based data sets are used to establish relationship between the dispersion of relative importance values of alternatives and ranking uncertainty. Our findings demonstrate that the dispersion of relative importance values of alternatives correlate with the Euclidian distances of aggregated values. We conclude that the dispersion of relative importance values contributes directly to the ranking uncertainty and can be used as a measure for identifying critical criteria.
Citation
Maliene, V., Dixon-Gough, R., & Malys, N. (2018). Dispersion of relative importance values contributes to the ranking uncertainty: sensitivity analysis of Multiple Criteria Decision-Making methods. Applied Soft Computing, 67, https://doi.org/10.1016/j.asoc.2018.03.003
Journal Article Type | Article |
---|---|
Acceptance Date | Mar 3, 2018 |
Online Publication Date | Mar 12, 2018 |
Publication Date | Jun 30, 2018 |
Deposit Date | Mar 20, 2018 |
Publicly Available Date | Mar 13, 2019 |
Journal | Applied Soft Computing |
Print ISSN | 1568-4946 |
Electronic ISSN | 1568-4946 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 67 |
DOI | https://doi.org/10.1016/j.asoc.2018.03.003 |
Keywords | multiple criteria analysis, sensitivity analysis, robustness, data dispersion, housing affordability |
Public URL | https://nottingham-repository.worktribe.com/output/944112 |
Publisher URL | https://www.sciencedirect.com/science/article/pii/S1568494618301170 |
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