In this paper, a new method, called best-worst method (BWM) is proposed to solve multi-criteria decision-making (MCDM) problems. In an MCDM problem, a number of alternatives are evaluated with respect to a number of criteria in order to select the best alternative(s). According to BWM, the best (e.g. most desirable, most important) and the worst (e.g. least desirable, least important) criteria are identified first by the decision-maker. Pairwise comparisons are then conducted between each of these two criteria (best and worst) and the other criteria. A maximin problem is then formulated and solved to determine the weights of different criteria. The weights of the alternatives with respect to different criteria are obtained using the same process. The final scores of the alternatives are derived by aggregating the weights from different sets of criteria and alternatives, based on which the best alternative is selected. A consistency ratio is proposed for the BWM to check the reliability of the comparisons. To illustrate the proposed method and evaluate its performance, we used some numerical examples and a real-word decision-making problem (mobile phone selection). For the purpose of comparison, we chose AHP (analytic hierarchy process), which is also a pairwise comparison-based method. Statistical results show that BWM performs significantly better than AHP with respect to the consistency ratio, and the other evaluation criteria: minimum violation, total deviation, and conformity. The salient features of the proposed method, compared to the existing MCDM methods, are: (1) it requires less comparison data; (2) it leads to more consistent comparisons, which means that it produces more reliable results.

Best-worst multi-criteria decision-making method

Multi-Criteria Decision Aid (MCDA) or Multi-Criteria Decision Making (MCDM) methods have received much attention from researchers and practitioners in evaluating, assessing and ranking alternatives across diverse industries. Among numerous MCDA/MCDM methods developed to solve real-world decision problems, the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) continues to work satisfactorily across different application areas. In this paper, we conduct a state-of-the-art literature survey to taxonomize the research on TOPSIS applications and methodologies. The classification scheme for this review contains 266 scholarly papers from 103 journals since the year 2000, separated into nine application areas: (1) Supply Chain Management and Logistics, (2) Design, Engineering and Manufacturing Systems, (3) Business and Marketing Management, (4) Health, Safety and Environment Management, (5) Human Resources Management, (6) Energy Management, (7) Chemical Engineering, (8) Water Resources Management and (9) Other topics. Scholarly papers in the TOPSIS discipline are further interpreted based on (1) publication year, (2) publication journal, (3) authors' nationality and (4) other methods combined or compared with TOPSIS. We end our review paper with recommendations for future research in TOPSIS decision-making that is both forward-looking and practically oriented. This paper provides useful insights into the TOPSIS method and suggests a framework for future attempts in this area for academic researchers and practitioners.

Review: A state-of the-art survey of TOPSIS applications

The objective of this paper is to review the state-of-the-art of mathematical models developed for reservoir operations, including simulation. Algorithms and methods surveyed include linear programming (LP), dynamic programming (DP), nonliner programming (NLP), and simulation. A general overview is first presented. The historical development of each key model is critically reviewed. Conclusions and recommendations for future research are presented.

Reservoir Management and Operations Models: A State‐of‐the‐Art Review

In this Chapter, we imagine a decision maker (or a group of experts) trying to establish or examine fair procedures to combine opinions about alternatives related to different points of view.

Multiple criteria decision making

PROMETHEE: A comprehensive literature review on methodologies and applications

https://ir.nctu.edu.tw:443/bitstream/11536/26562/1/000220346300012.pdf

Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS

https://ir.nctu.edu.tw:443/bitstream/11536/10896/1/000242726800015.pdf

Extended VIKOR method in comparison with outranking methods

In many cases, criterion values are crisp in nature, and their values are determined by economic instruments, mathematical models, and/or by engineering measurement. However, there are situations when the evaluation of alternatives must include the imprecision of established criteria, and the development of a fuzzy multicriteria decision model is necessary to deal with either "qualitative" (unquantifiable or linguistic) or incomplete information. The proposed fuzzy multicriteria decision model (FMCDM) consists of two phases: the CFCS phase - Converting the Fuzzy data into Crisp Scores, and the MCDM phase - MultiCriteria Decision Making. This model is applicable for defuzzification within the MCDM model with a mixed set of crisp and fuzzy criteria. A newly developed CFCS method is based on the procedure of determining the left and right scores by fuzzy min and fuzzy max, respectively, and the total score is determined as a weighted average according to the membership functions. The advantage of this defuzzification method is illustrated by some examples, comparing the results from three considered methods.

Defuzzification within a multicriteria decision model

https://ir.nctu.edu.tw:443/bitstream/11536/13527/1/000228628100002.pdf

Multi-criteria analysis of alternative-fuel buses for public transportation

A multicriteria model is developed for analyz- ing the planning strategies for reducing the future social and economic costs in the area with potential natural hazard. The developed multicriteria decision-making pro- cedure consists of generating alternatives, establishing cri- teria, assessment of criteria weights, and application of the compromise ranking method (VIKOR). The alternatives are the scenarios of sustainable hazard effects mitigation, gen- erated in the form of comprehensive reconstruction plans, including the redevelopment of urban areas and infrastruc- tures, multipurpose land use, and restrictions on building in hazardous areas. The plans have to be evaluated accord- ing to the criteria representing public safety, sustainability, social environment, natural environment, economy, culture, and politics. The multicriteria model can treat all rele- vant conflicting effects and impacts in their representa- tive units. The evaluation of alternatives is implicated with imprecision (or uncertainty) of established criteria, and the fuzzy multicriteria model is developed to deal with "qual- itative" (unquantifiable or linguistic) or incomplete infor- mation. The application of this model is illustrated with the post-earthquake reconstruction problem in Central Tai- wan, including the restoration concerning the safe and ser-

https://ir.nctu.edu.tw:443/bitstream/11536/28818/1/000174750600008.pdf

Serafim Opricovic

Papers

Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS

Extended VIKOR method in comparison with outranking methods

Defuzzification within a multicriteria decision model

Multi-criteria analysis of alternative-fuel buses for public transportation

Multicriteria Planning of Post‐Earthquake Sustainable Reconstruction