Processing technique of ratings for ranking of alternatives (PROTERRA)

Abstract

AbstractThis paper presents a new approach to multicriteria decision analysis. They were named as processing technique of ratings for ranking of alternatives (PROTERRA). The consecutive steps of the process include normalization of the ratings, calculating of the ratings ratios within each pair of the alternatives, creating a component matrix for each of the criteria, and creating a total matrix that is the sum of the weighted component matrices. Aggregated ratings of individual alternatives result from the sums of all the values of the corresponding rows and columns of the total matrix elements. A practical application of the PROTERRA has been illustrated with an example of a decision problem concerning the choice of a shopping centre location. The analysis results of the PROTERRA are compared with other results obtained using the most popular methods, that is, analytic hierarchy process, preference ranking organization method for enrichment of evaluations, and technique for order performance by similarity to ideal solution. In order to assess the stability of the ranking order obtained by the PROTERRA algorithm, the influence of weights variations on the final ranking results were tested. The sensitivity analysis was also carried out for the other methods, that is, preference ranking organization method for enrichment of evaluations, analytic hierarchy process, and technique for order performance by similarity to ideal solution. On this basis, a stability of rankings resulting from all analysed methods were compared.