Robustness analysis in a TODIM-based multicriteria evaluation model of rental properties
A new robustness analysis framework is proposed where robustness of a solution in a decision aiding process is measured as the distance from that solution to an expected outcome, chosen by the decision-aiding analyst. The framework is explained by the application of the TODIM method of multicriteria...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2014-01-01
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| Series: | Technological and Economic Development of Economy |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/TEDE/article/view/4326 |
| Summary: | A new robustness analysis framework is proposed where robustness of a solution in a decision aiding process is measured as the distance from that solution to an expected outcome, chosen by the decision-aiding analyst. The framework is explained by the application of the TODIM method of multicriteria decision aiding to the problem of predicting rental ranges for properties in a Chilean city. Therefore, the robustness concern concentrates on changes in criteria weights as well as in trade-off rates, as they are defined in the method. Two main contributions are introduced: a local robustness measure, defined in terms of a distance among rankings; and a global robustness measure, as an adaptation of the minimax-regret rule to select a global robust solution, i.e. a ranking produced by TODIM. |
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| ISSN: | 2029-4913 2029-4921 |