Abstract
During a decision making process, decision makers often need to handle large amount of information in order to reach a rational decision. Such information can be incomplete, uncertain and even contradictory to each other. Multi-criteria decision making (MCDM) methods provide effective and popular solutions to aid decisions under uncertainty. Well-established MCDM methodologies such as AHP, TOPSIS, VIKOR, ELECTRE, and PROMETHEE are reviewed with particular reference to their standard frameworks in this chapter to provide a holistic knowledge base on their applications individually and/or collectively in the other chapters in this book.
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Notes
- 1.
Not a few of its acronyms and full names in the existing literature have typos. The last author of this chapter has confirmed them from Opricovic by email.
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Acknowledgements
The authors would like to thank the EU FP7 Marie Curie IRSES project “ENRICH” (612546) for its financial support to this research.
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Qu, Z., Wan, C., Yang, Z., Lee, P.TW. (2018). A Discourse of Multi-criteria Decision Making (MCDM) Approaches. In: Lee, PW., Yang, Z. (eds) Multi-Criteria Decision Making in Maritime Studies and Logistics. International Series in Operations Research & Management Science, vol 260. Springer, Cham. https://doi.org/10.1007/978-3-319-62338-2_2
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