Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques
Computational models and simulations often involve representations of decision-making processes. Numerous methods exist for representing decision-making at varied resolution levels based on the objectives of the simulation and the desired level of fidelity for validation. Decision making relies on t...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-11-01
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| Series: | Applied Sciences |
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| Online Access: | https://www.mdpi.com/2076-3417/11/21/10397 |
| _version_ | 1797512797847814144 |
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| author | Barry Ezell Christopher J. Lynch Patrick T. Hester |
| author_facet | Barry Ezell Christopher J. Lynch Patrick T. Hester |
| author_sort | Barry Ezell |
| collection | DOAJ |
| description | Computational models and simulations often involve representations of decision-making processes. Numerous methods exist for representing decision-making at varied resolution levels based on the objectives of the simulation and the desired level of fidelity for validation. Decision making relies on the type of decision and the criteria that is appropriate for making the decision; therefore, decision makers can reach unique decisions that meet their own needs given the same information. Accounting for personalized weighting scales can help to reflect a more realistic state for a modeled system. To this end, this article reviews and summarizes eight multi-criteria decision analysis (MCDA) techniques that serve as options for reaching unique decisions based on personally and individually ranked criteria. These techniques are organized into a taxonomy of ratio assignment and approximate techniques, and the strengths and limitations of each are explored. We compare these techniques potential uses across the Agent-Based Modeling (ABM), System Dynamics (SD), and Discrete Event Simulation (DES) modeling paradigms to inform current researchers, students, and practitioners on the state-of-the-art and to enable new researchers to utilize methods for modeling multi-criteria decisions. |
| first_indexed | 2024-03-10T06:05:45Z |
| format | Article |
| id | doaj.art-a213e0c584a249beb65bd67a9ab1316c |
| institution | Directory Open Access Journal |
| issn | 2076-3417 |
| language | English |
| last_indexed | 2024-03-10T06:05:45Z |
| publishDate | 2021-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Applied Sciences |
| spelling | doaj.art-a213e0c584a249beb65bd67a9ab1316c2023-11-22T20:32:11ZengMDPI AGApplied Sciences2076-34172021-11-0111211039710.3390/app112110397Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate TechniquesBarry Ezell0Christopher J. Lynch1Patrick T. Hester2Virginia Modeling, Analysis and Simulation Center, Old Dominion University, Suffolk, VA 23435, USAVirginia Modeling, Analysis and Simulation Center, Old Dominion University, Suffolk, VA 23435, USAModus Operandi Inc., Melbourne, FL 32901, USAComputational models and simulations often involve representations of decision-making processes. Numerous methods exist for representing decision-making at varied resolution levels based on the objectives of the simulation and the desired level of fidelity for validation. Decision making relies on the type of decision and the criteria that is appropriate for making the decision; therefore, decision makers can reach unique decisions that meet their own needs given the same information. Accounting for personalized weighting scales can help to reflect a more realistic state for a modeled system. To this end, this article reviews and summarizes eight multi-criteria decision analysis (MCDA) techniques that serve as options for reaching unique decisions based on personally and individually ranked criteria. These techniques are organized into a taxonomy of ratio assignment and approximate techniques, and the strengths and limitations of each are explored. We compare these techniques potential uses across the Agent-Based Modeling (ABM), System Dynamics (SD), and Discrete Event Simulation (DES) modeling paradigms to inform current researchers, students, and practitioners on the state-of-the-art and to enable new researchers to utilize methods for modeling multi-criteria decisions.https://www.mdpi.com/2076-3417/11/21/10397multi-criteria decision makingmulti-criteria decision analysisattribute weightingMCDMMCDA |
| spellingShingle | Barry Ezell Christopher J. Lynch Patrick T. Hester Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques Applied Sciences multi-criteria decision making multi-criteria decision analysis attribute weighting MCDM MCDA |
| title | Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques |
| title_full | Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques |
| title_fullStr | Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques |
| title_full_unstemmed | Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques |
| title_short | Methods for Weighting Decisions to Assist Modelers and Decision Analysts: A Review of Ratio Assignment and Approximate Techniques |
| title_sort | methods for weighting decisions to assist modelers and decision analysts a review of ratio assignment and approximate techniques |
| topic | multi-criteria decision making multi-criteria decision analysis attribute weighting MCDM MCDA |
| url | https://www.mdpi.com/2076-3417/11/21/10397 |
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