A simple approach for multi-criteria decision-making on basis of probability theory
In the present paper, a new concept of favorable probability is proposed first, and a simplified approach for multi-criteria decision-making is developed on basis of probability theory. It assumes that all the performance indexes of all alternatives can be divided into beneficial and unbeneficial t...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2022-12-01
|
| Series: | Engineering Structures and Technologies |
| Subjects: | |
| Online Access: | https://journals.vilniustech.lt/index.php/EST/article/view/18404 |
| Summary: | In the present paper, a new concept of favorable probability is proposed first, and a simplified approach for multi-criteria decision-making is developed on basis of probability theory. It assumes that all the performance indexes of all alternatives can be divided into beneficial and unbeneficial types in the multi-criteria decision-making, and each performance index of all alternative makes its contribution to a partial favorable probability in positively or negatively correlative manners linearly upon its type of beneficial or unbeneficial; the partial favorable probability of each performance index with the same physical meaning is normalized in the alternative group; the product of all partial favorable probability of an alternative makes the total favorable probability of the alternative. As a consequence, all the alternatives can be ranked according to their total favorable probability comparatively in the multi-criteria decision-making. As application examples of the new method, the quantitative assessment of multi-criteria selection for effective dwelling house walls, project managers and contractor for construction works are given in detail, satisfied results are obtained.
First published online 10 January 2023
|
|---|---|
| ISSN: | 2029-882X 2029-8838 |