Abstract
The VIKOR multi-criteria decision-making technique was initially proposed by S. Opricovic in 1979 which was followed by its first application in 1980. It was named VIKOR in 1990 from the Serbian: VIseKriterijumska Optimizacija I Kompromisno Resenje which stands for Multi-criteria Optimization and Compromise Solution. It is a powerful tool that can be used for various strategic decision-making problems in various environments such as social, economic or environmental. VIKOR approach consists of identifying various alternatives for a problem, establishing the priority among them and ranking them and selection of the best compromise solution based on the ranking.
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Selected Bibliography and Further Reading
Barda, O. H., Dupuis, J., & Lencioni, P. (1990). Multi-criteria location of thermal power plants. European Journal of Operational Research, 45(2–3), 332–346.
Opricovic, S., & Tzeng, G. H. (2004). Compromise solution by MADM methods: A comparative analysis of VIKOR and TOPSIS. European Journal of Operational Research, 156(2), 445–455.
Drucker, P. (1999). Knowledge-worker productivity: the biggest challenge. California Management Review, 79–94.
Frost, A. (2015, Feburary 9). Knowledge management tools. Retrieved from https://www.knowledge-management-tools.net/
Jih-Jeng Huang, G.-H. T.-H. (2009). A revised VIKOR Model for multiple criteria decision making—The perspective of regret theory. Communications in Computer and Information Science, 761–768.
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Thakkar, J.J. (2021). VIseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR). In: Multi-Criteria Decision Making. Studies in Systems, Decision and Control, vol 336. Springer, Singapore. https://doi.org/10.1007/978-981-33-4745-8_8
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DOI: https://doi.org/10.1007/978-981-33-4745-8_8
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