Modified Weighted Sum Method for Decisions with Altered Sources of Information

Sorooshian, Shahryar and Parsia, Yasaman (2019) Modified Weighted Sum Method for Decisions with Altered Sources of Information. Mathematics and Statistics, 7 (3). pp. 57-60. ISSN 2332-2144. (Published)

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Multi Attribute Decision Making (MADM) is an asset to provide solutions for our todays' complex issues and problems. The fact of the matter is that the main source of information in many MADMs is a panel of experts. However, in some cases, there is a possibility of lack of knowledge by the panel to rank or weight one or a few particular criterion/criteria for the decision making. Therefore, the decision maker needs an altered source of information to complete the decision making process. Hence, WSM (Weighted Sum Method) by means of the most popular MADM techniques is selected; and as a prior aim of this article, a modified version of the WSM is proposed as a solution for multiple criteria decision makers by way of a solution for the cases when there is a need for another source of information to rank or weight the particular criterion/criteria. The modified WSM is presented in five stages. The validity, through feasibility, of the modified WSM is tested and verified in a numerical example. Additionally, following this article, future researches could use the same approach for modification of other MADMs to deal with two or more sources of information.

Item Type: Article
Uncontrolled Keywords: Multi-criteria Decision Making, MADM, WSM, Information
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
Faculty/Division: Centre of Excellence: Earth Resources & Sustainability Centre (ERAS)
Faculty of Industrial Management
Depositing User: Encik Mohd Hashim Mohd Saad
Date Deposited: 03 Oct 2019 01:42
Last Modified: 03 Oct 2019 01:42
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