Multi-attribute Decision Making
Synonyms
Definition
Multi-attribute decision making (MADM) refers to making preference decisions by evaluating and prioritizing a limited set of alternatives based on multiple conflict attributes.
Description
MADM has been a hot research area in management science for a long period of time (Zanakis, Solomon, Wishart, & Dublish, 1998). It has been widely applied in different areas, e.g., individual capability evaluation (Wagle, 2009), ecological risk assessment (Xie, Chen, Lin, & Zheng, 2009), and quality of life assessment (Lazim & Osman, 2009). An MADM problem can be described with a set of attributes and finite alternatives. To solve an MADM problem, three steps are often needed. The first is to determine the weights of the attributes, the second step is to determine and normalize the attribute values for each alternative, and the third is to aggregate the normalized attribute values into an overall index for ranking the...
References
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