Abstract
The aim of this paper is to present a trade-off ranking method in a fuzzy multi-criteria decision-making environment. The triangular fuzzy numbers are used to represent the imprecise numerical quantities in the criteria values of each alternative and the weight of each criterion. A fuzzy trade-off ranking method is developed to rank alternatives in the fuzzy multi-criteria decision-making problem with conflicting criteria. The trade-off ranking method tackles this type of multi-criteria problems by giving the least compromise solution as the best option. The proposed method for the fuzzy decision-making problems is compared against two other fuzzy decision-making approaches, fuzzy Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) and fuzzy VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR), used for ranking alternatives.
Highlights
In a conflicting multi-criteria problem, there is no unique solution that could optimize all the criteria simultaneously
The multi-criteria decision-making (MCDM) analysis contains a number of decision-making steps including weighting of criteria and ranking of alternatives
The weighted sum of the objectives leads to an aggregate function to be optimized
Summary
In a conflicting multi-criteria problem, there is no unique solution that could optimize all the criteria simultaneously. The conflicting multi-criteria problem gives a set of Pareto solutions. Each Pareto solution is defined as a trade-off solution between the conflicting criteria, where it is not possible to achieve the best score of a criterion without downgrading the score of some other criteria. The multi-criteria decision-making (MCDM) analysis contains a number of decision-making steps including weighting of criteria and ranking of alternatives. The weighting of criteria can reflect the individual preferences of the Decision-Maker. The weighted sum of the objectives leads to an aggregate function to be optimized. Eckenrode [1] implemented this approach to optimize an air-defence system
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