Are MCDA Methods Benchmarkable? A Comparative Study of TOPSIS, VIKOR, COPRAS, and PROMETHEE II Methods

Abstract

Multi-Criteria Decision-Analysis (MCDA) methods are successfully applied in different fields and disciplines. However, in many studies, the problem of selecting the proper methods and parameters for the decision problems is raised. The paper undertakes an attempt to benchmark selected Multi-Criteria Decision Analysis (MCDA) methods. To achieve that, a set of feasible MCDA methods was identified. Based on reference literature guidelines, a simulation experiment was planned. The formal foundations of the authors’ approach provide a reference set of MCDA methods ( Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR), Complex Proportional Assessment (COPRAS), and PROMETHEE II: Preference Ranking Organization Method for Enrichment of Evaluations) along with their similarity coefficients (Spearman correlation coefficients and WS coefficient). This allowed the generation of a set of models differentiated by the number of attributes and decision variants, as well as similarity research for the obtained rankings sets. As the authors aim to build a complex benchmarking model, additional dimensions were taken into account during the simulation experiments. The aspects of the performed analysis and benchmarking methods include various weighing methods (results obtained using entropy and standard deviation methods) and varied techniques of normalization of MCDA model input data. Comparative analyses showed the detailed influence of values of particular parameters on the final form and a similarity of the final rankings obtained by different MCDA methods.

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“…In their research, Salabun et al pointed out that when choosing the MCDM method, it is significant to take care of the selected method and the method of normalization. Nearly any combination of methods and their parameters can bring different results that they confirmed by comparing TOPSIS, VIKOR, COPRAS, and PROMETHEE II methods [127].…”

Regional Land Eco-Security Evaluation for the Mining City of Daye in China Using the GIS-Based Grey TOPSIS Method

“…However, different types of data come from experts with different backgrounds, which is difficult to be quantified and spatialized later. Therefore, we should pay more attention to the normalization step of the various data in the modelling process, because normalization of the processing method as a key technique should be improved based on more wisdom in current the multi-criteria decision analysis (MCDA) methods [31,73].…”

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“…(12) The number of experts in the law of per incubated enterprise refers to the average number of legal specialists owned by each company, which represents the corresponding consultation resource used by each incubated enterprise. (13) The number of experts in human resources per incubated enterprise refers to the average number of human specialists owned by each company, which represents the corresponding consultation resource used by each incubated enterprise. (14) The number of experts in the marketing of per incubated enterprise refers to the average number of marketing specialists owned by each company, which represents the corresponding consultation resource used by each incubated enterprise.…”

“…Traditional assessment models can be separated into subjective and objective modes. For example, expert evaluation, the fuzzy analytic hierarchy process, and the network analytic hierarchy process are exploited for subjective judgment, while entropy weight method, principal component analysis, gray correlation analysis, matter-element extension model, and ideal solution are utilized for objective estimation [12][13][14]. In recent years, some improved solutions for these traditional evaluation methods have also emerged with excellent results.…”