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Combined Multi-Criteria Decision Making Approach Based on MACBETH and MULTI-MOORA Methods

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  • Nilsen Kundakcı

Abstract

Various Multi-Criteria Decision Making (MCDM) methods have been developed to support decision making process. The main aim of all MCDM methods is to obtain ranking of the alternatives and select the best one under conflicting criteria. In this paper, a combined MCDM approach is proposed based on MACBETH (Measuring Attractiveness by a Categorical Based Evaluation TecHnique) and MULTI-MOORA (Multi Objective Optimization on the basis of Ratio Analysis) methods. In this combined approach, the weights of the criteria are determined with MACBETH method and then MULTI-MOORA method is used to obtain the final ranking of the alternatives. At the end of the paper, to illustrate the applicability of the proposed approach an application of the automobile selection of a marble company is also given.

Suggested Citation

  • Nilsen Kundakcı, 2016. "Combined Multi-Criteria Decision Making Approach Based on MACBETH and MULTI-MOORA Methods," Alphanumeric Journal, Bahadir Fatih Yildirim, vol. 4(1), pages 17-26, April.
    • Handle: RePEc:anm:alpnmr:v:4:y:2016:i:1:p:17-26
    DOI: http://dx.doi.org/10.17093/aj.2016.4.1.5000178402
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    References listed on IDEAS

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    More about this item

    Keywords

    Automobile Selection; MACBETH; MULTI-MOORA; Multi Criteria Decision Making;
    All these keywords.

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory

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