Comparative analysis of three categories of multi-criteria decision-making methods

Abstract

Multi-criteria decision-making (MCDM) is a popular branch of decision theory in which many methods have been proposed to solve MCDM real-world problems. However, in spite of the multiple methods, it is common that different of them provide the same solutions. Therefore, this paper analyzes the causes of the same solutions from different MCDM methods, studies why different normalization methods can achieve the same solutions in MCDM methods through the theory of MCDM methods, and discusses the relationship between different MCDM methods by category. To achieve such goals, MCDM methods are classified into three categories according to their ranking methods. Some traditional MCDM methods are then extended by considering general normalization methods and distance measures. Finally, the characteristics of various MCDM methods are discussed by category and their evaluation indexes are also compared. The comparison results are represented by tables and flowchart models. The relationship between different categories of MCDM methods is shown through the comparison of the evaluation indexes. The aim of the proposed method is not to replace existing MCDM methods, but to fill some present research gaps about MCDM methods.