Multicriteria Decision-Making Under Conditions of Uncertainty

Multicriteria Decision-Making Under Conditions of Uncertainty
Author: Petr Ekel
Publisher: John Wiley & Sons
Total Pages: 368
Release: 2019-12-12
Genre: Technology & Engineering
ISBN: 1119534925

A guide to the various models and methods to multicriteria decision-making in conditions of uncertainty presented in a systematic approach Multicriteria Decision-Making under Conditions of Uncertainty presents approaches that help to answer the fundamental questions at the center of all decision-making problems: "What to do?" and "How to do it?" The book explores methods of representing and handling diverse manifestations of the uncertainty factor and a multicriteria nature of problems that can arise in system design, planning, operation, and control. The authors—noted experts on the topic—and their book covers essential questions, including notions and fundamental concepts of fuzzy sets, models and methods of multiobjective as well as multiattribute decision-making, the classical approach to dealing with uncertainty of information and its generalization for analyzing multicriteria problems in condition of uncertainty, and more. This comprehensive book contains information on "harmonious solutions" in multiobjective problem-solving (analyzing “i>X, F> models), construction and analysis of “i>X, R/i” models, results aimed at generating robust solutions in analyzing multicriteria problems under uncertainty, and more. In addition, the book includes illustrative examples of various applications, including real-world case studies related to the authors’ various industrial projects. This important resource: Explains the design and processing aspect of fuzzy sets, including construction of membership functions, fuzzy numbers, fuzzy relations, aggregation operations, and fuzzy sets transformations Describes models of multiobjective decision-making (“i>X. M/i” models), their analysis on the basis of using the Bellman-Zadeh approach to decision-making in a fuzzy environment, and their diverse applications, including multicriteria allocation of resources Investigates models of multiattribute decision-making (“i>X, R/i” models) and their analysis on the basis of the construction and processing of fuzzy preference relations as well as demonstrating their applications to solve diverse classes of multiattribute problems Explores notions of payoff matrices and fuzzy-set-based generalization and modification of the classic approach to decision-making under conditions of uncertainty to generate robust solutions in analyzing multicriteria problems Written for students, researchers and practitioners in disciplines in which decision-making is of paramount relevance, Multicriteria Decision-Making under Conditions of Uncertainty presents a systematic and current approach that encompasses a range of models and methods as well as new applications.

The Management of Uncertainty: Approaches, Methods and Applications

The Management of Uncertainty: Approaches, Methods and Applications
Author: Luc Wilkin
Publisher: Springer Science & Business Media
Total Pages: 294
Release: 2012-12-06
Genre: Business & Economics
ISBN: 9400944586

For thirty years, the literature on decision-making and planning has been divided into two camps : work premised on rational models of choice and work designed to discredit such models. The sustained critic of fully rational decision-making theories has al ready a long history and a constant message to deliver : in practice, consequential decision-making hardly fulfills the canons of perfect rationality. There is also evidence that decision-making and planning are not unitary processes. Although the concept of "decision-making" connotes the idea of a single process, making a single choice involves a complex of processing tasks : structuring the problem, finding alternatives worth considering, deciding what information is relevant, assessing various consequences, and a variety of others. The aim of this volume is to bring together and try to inter relate some of the concepts and relevant knowledge from various disciplines concerned with one important aspect of this complex process : the management of uncertainty. It is hardly necessary to reiterate the case made by numerous authors about our changing and increasingly uncertain world. Suffice it to say here that it is uncertainty about the future, and in many cases about the past and the present also, which makes decision-making and planning so difficul t. The management of uncertainty may be defined as the way in which uncertainty is treated and processed in decision-making.

Multicriteria Analysis

Multicriteria Analysis
Author: Mahdi Zarghami
Publisher: Springer Science & Business Media
Total Pages: 167
Release: 2011-05-27
Genre: Business & Economics
ISBN: 3642179371

Multicriteria analysis is one of the most important fields of decision science. This book gives an outline of the formulation of an appropriate model and presents a comprehensive summary of the most popular methods for solving multicriteria decision problems. In addition to the classical approach the book introduces fuzzy and stochastic methodology, models with uncertainty, social choice and conflict resolution. All methods are illustrated with easy to follow simple examples. At the end of each chapter detailed case studies are given in water and environment management including inter-basin water transfer, urban water management, water allocation, groundwater quality management, forest treatment, ranking water resources projects, reservoir planning, water distribution network design and long-term watershed management. The new methodology and the wide variety of case studies are not easily accessible elsewhere.

Multi-criteria Decision Making Methods

Multi-criteria Decision Making Methods
Author: Evangelos Triantaphyllou
Publisher: Springer Science & Business Media
Total Pages: 307
Release: 2013-03-09
Genre: Business & Economics
ISBN: 1475731574

Multi-Criteria Decision Making (MCDM) has been one of the fastest growing problem areas in many disciplines. The central problem is how to evaluate a set of alternatives in terms of a number of criteria. Although this problem is very relevant in practice, there are few methods available and their quality is hard to determine. Thus, the question `Which is the best method for a given problem?' has become one of the most important and challenging ones. This is exactly what this book has as its focus and why it is important. The author extensively compares, both theoretically and empirically, real-life MCDM issues and makes the reader aware of quite a number of surprising `abnormalities' with some of these methods. What makes this book so valuable and different is that even though the analyses are rigorous, the results can be understood even by the non-specialist. Audience: Researchers, practitioners, and students; it can be used as a textbook for senior undergraduate or graduate courses in business and engineering.

Managing in Uncertainty: Theory and Practice

Managing in Uncertainty: Theory and Practice
Author: Constantin Zopounidis
Publisher: Springer Science & Business Media
Total Pages: 520
Release: 2013-04-17
Genre: Business & Economics
ISBN: 147572845X

This book provides a new point of view on the subject of the management of uncertainty. It covers a wide variety of both theoretical and practical issues involving the analysis and management of uncertainty in the fields of finance, management and marketing. Audience: Researchers and professionals from operations research, management science and economics.

Fuzzy Multicriteria Decision-Making

Fuzzy Multicriteria Decision-Making
Author: Witold Pedrycz
Publisher: John Wiley & Sons
Total Pages: 328
Release: 2011-06-15
Genre: Technology & Engineering
ISBN: 1119957389

Fuzzy Multicriteria Decision-Making: Models, Algorithms and Applications addresses theoretical and practical gaps in considering uncertainty and multicriteria factors encountered in the design, planning, and control of complex systems. Including all prerequisite knowledge and augmenting some parts with a step-by-step explanation of more advanced concepts, the authors provide a systematic and comprehensive presentation of the concepts, design methodology, and detailed algorithms. These are supported by many numeric illustrations and a number of application scenarios to motivate the reader and make some abstract concepts more tangible. Fuzzy Multicriteria Decision-Making: Models, Algorithms and Applications will appeal to a wide audience of researchers and practitioners in disciplines where decision-making is paramount, including various branches of engineering, operations research, economics and management; it will also be of interest to graduate students and senior undergraduate students in courses such as decision making, management, risk management, operations research, numerical methods, and knowledge-based systems.

Multiple Criteria Decision Making

Multiple Criteria Decision Making
Author: Constantin Zopounidis
Publisher: Springer
Total Pages: 218
Release: 2016-09-08
Genre: Business & Economics
ISBN: 3319392921

This book presents a broad range of innovative applications and case studies in all areas of management and engineering, including public administration, finance, marketing, engineering, transportation, and energy systems. It addresses issues related to problem structuring, preference modeling, and model construction, presenting a framework that provides clear decision-making support in practice. In addition, it includes hybrid and integrated techniques combining multiple criteria decision making (MCDM) with other analytical methods. The book reflects the growing impact of MCDM in the field of management science and operations research. Building on recent and established theoretical advances and presenting their applications in specific domains, it offers a comprehensive resource for researchers, graduate students and professionals alike.