Two shortcomings of existing Multi-Attribute Decision-Making (MADM) approaches are presented in this paper. The problems were decision makers' (experts') dynamic level of experience in certain areas, as well as the difficulties of forecasting the future with the existing MADM techniques. A...

Conflicting rankings corresponding to alternative performance criteria and measures are mostly reported in the mono-criterion evaluation of competing distress prediction models (DPMs). To overcome this issue, this study extends the application of the expert system to corporate credit risk and...

Simple additive weighting is a well-known method for scoring and ranking alternative options based on multiple attributes. However, the pitfalls associated with this approach are not widely appreciated. For example, the apparently innocuous step of normalizing the various attribute data in order...

We present a new interactive procedure for evolutionary multiobjective optimization involving the decision rule preference model in the search for the best compromise solution. As usual in the interactive multiobjective optimization, preference elicitation phases alternate with optimization...

This paper presents a way of modelling relationships between multiple dependent and multiple independent variables. The method involves fitting coefficients to functions of these two sets of variables such that the resulting ‘aggregate’ functions have maximum correlation. The inclusion of...

In today's with the increasing complexity of supply chains, supplier relationships have gained strategic importance for supply chains. Long-term and sustainable supplier relations are important to gain a competitive advantage in the supply chain. It is also important that suppliers are selected...

We describe a new mechanism - what we call a booster draft - for allocating multiple, indivisibleobjects among a group of individuals. The mechanism’s appeal lies in its strategy-proofness andsimplicity: Individuals take turns drawing objects from different sets - called boosters - and...

The goal of this study is a comparative analysis between agroecological and conventional small coffee farms. We investigate fifteen coffee farms in the East region of Minas Gerais, a Brazilian rural region based on coffee production, using a multicriteria analysis (MCA) with economic, social and...

Various schemes have been proposed for generating a set of non-subjective weights when aggregating multiple criteria for the purposes of ranking or selecting alternatives. The maximin approach chooses the weights which maximize the lowest score (assuming there is an upper bound to scores). This...

Consider a set of decision-making units (DMUs, e.g. branches, departments, firms) which employ a variety of resources to produce multiple outputs. The units being compared may be in the public sector e.g. health or education, so that the outputs and inputs need not be measured in monetary terms....