An extreme-distance approach to multiple criteria ranking

Authors:
Ye Chen;D. Marc Kilgour;Keith W. Hipel
Affiliations:
College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu, 210016, China and Department of Systems Design Engineering, University of Waterloo, Water ...;Department of Mathematics, Wilfrid Laurier University, Waterloo, Ontario, N2L 3C5, Canada and Department of Systems Design Engineering, University of Waterloo, Waterloo, Ontario, N2L 3G1, Canada;Department of Systems Design Engineering, University of Waterloo, Waterloo, Ontario, N2L 3G1, Canada
Venue:
Mathematical and Computer Modelling: An International Journal
Year:
2011

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Abstract

A distance approach based on extreme points, or predefined ideal and anti-ideal points, is proposed to improve on the TOPSIS (Technique for Order Performance [or Ordered Preference] by Similarity to Ideal Solution) method of multiple criteria ranking. Two case studies demonstrate how the analysis procedure works, and provide a basis for comparison of the proposed method to the original TOPSIS and similar methods. In applications, the new method produces results that are generally consistent with the original technique, but offers new features such as a clear interpretation of extreme points, more flexibility in setting extreme points, no normalization distortion, and the ability to handle non-monotonic criteria.