Exploring the specific capacity of different multi criteria decision making approaches under uncertainty using data from financial markets

Baydaş, Mahmut; Elma, Orhan Emre; Pamučar, Dragan

doi:10.1016/j.eswa.2022.116755

Cited by 33 publications

(20 citation statements)

References 40 publications

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“…There are many applications that use these methods, such as the applications in the field of logistics [19,20], transportation [21,22], financial [23]. One of the methods used is Grey System Theory, introduced by Deng in the early 1980s [24], which focuses on solving problems with incomplete information or small samples. Hence, it generates and extracts useful information from the available data.…”

Section: Methodsmentioning

confidence: 99%

Pavement Condition Assessment Using Pavement Condition Index and Multi-Criteria Decision-Making Model

Elmansouri¹,

Alossta²,

Badi³

2022

MITS

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Road maintenance is essential to the growth of the transportation infrastructure and, thereby, has a big impact on a nation's overall economic stability and prosperity. It is impossible to simultaneously monitor and maintain the entire network. As a result, transportation authorities are eager to develop scientific foundations for assessing the importance of maintenance tasks within the network of roads. Hence, pavement assessment methods are needed to establish the priorities and achieving the most convenient level of service. In this study, a road stretch was assessed using the sixteen criteria in the Distress Identification Manual for pavement defects, using pavement condition index (PCI) and multi-criteria decision-making models (MCDM). The two methods were compared to determine the possibility of using MCDM. The study came to the conclusion that MCDM is reliable in assessing pavement performance because both methods indicated that the road pavement is deteriorating.

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Section: Methodsmentioning

confidence: 99%

Pavement Condition Assessment Using Pavement Condition Index and Multi-Criteria Decision-Making Model

Elmansouri¹,

Alossta²,

Badi³

2022

MITS

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“…It is considered as a suitable solution for the problem with the criteria in the form of both qualitative and quantitative. Details on how to rank alternatives according to this method can be found in the literature [35][36][37]. This method has been successful in ranking applicants studying at a medical school [35].…”

Section: Example 1 -Selection Of Cnc Lathementioning

confidence: 99%

“…Details on how to rank alternatives according to this method can be found in the literature [35][36][37]. This method has been successful in ranking applicants studying at a medical school [35]. When used to rank alternatives of turning, it has also been shown to have an accuracy comparable to that of the PEG method and better than that of the PSI method [36].…”

Section: Example 1 -Selection Of Cnc Lathementioning

confidence: 99%

Combined PIPRECIA method and modified FUCA method for selection of lathe

Trung¹,

Trưởng²,

Thinh³

2022

J Appl Eng Science

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The choice of technological equipment in general or lathe in particular has a great influence on the efficiency of the machining processes. Lathes are often evaluated by many criteria, both quantitative and qualitative. Sometimes the criteria employed by the methods are opposite to each other. Hence the choice of lathe is usually made through the evaluation of multiple criteria, which is known as "Multi-Criteria Decision Making - MCDM". In the research was used PIPRECIA method to determine the weights of the criteria. Modifications to FUCA method were then implemented. The combination of PIPRECIA method and the modified FUCA method were applied to the lathe selection in two cases. In both cases the best and worst alternatives were determined in the same way as when using the CURLI method. This confirms the correct implementation of the FUCA method modification, and the combination of PIPRECIA and the modified FUCA method turns out to be a right approach in the selection of lathes. Details that need to be considered in future research were also mentioned in this study.

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“…Todavia a definição do método multicritério a ser utilizado não é uma atividade simples, visto que requer o levantamento de vários aspectos do problema e sobre as preferências do decisor (BAYDAS et al, 2022). Exemplos de questões importantes são a racionalidade do decisor, a definição da problemática mais indicada, a análise da compatibilidade do problema a ser resolvido com os métodos existentes, o tempo disponível para a decisão, dentre outros aspectos do processo.…”

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