IDEAS home Printed from https://ideas.repec.org/a/eee/ejores/v219y2012i1p198-200.html
   My bibliography  Save this article

A note on scale transformations in the PROMETHEE V method

Author

Listed:
  • de Almeida, Adiel Teixeira
  • Vetschera, Rudolf

Abstract

As already noted by Mavrotas et al. (2006), the PROMETHEE V method for multi-attribute analysis of portfolio problems will fail to include an item in a portfolio if it has a negative net flow with respect to other items, although adding such an item might actually improve the entire portfolio. However, the model formulated by Mavrotas et al. introduces a bias in favor of large portfolios because the PROMETHEE V method is sensitive to scale transformations. The present paper analyzes this effect and proposes a method to correct it.

Suggested Citation

  • de Almeida, Adiel Teixeira & Vetschera, Rudolf, 2012. "A note on scale transformations in the PROMETHEE V method," European Journal of Operational Research, Elsevier, vol. 219(1), pages 198-200.
    • Handle: RePEc:eee:ejores:v:219:y:2012:i:1:p:198-200
    DOI: 10.1016/j.ejor.2011.12.034
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0377221711011283
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ejor.2011.12.034?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mavrotas, G. & Diakoulaki, D. & Caloghirou, Y., 2006. "Project prioritization under policy restrictions. A combination of MCDA with 0-1 programming," European Journal of Operational Research, Elsevier, vol. 171(1), pages 296-308, May.
    2. Bertrand Mareschal & Jean Pierre Brans & Philippe Vincke, 1984. "Prométhée: a new family of outranking methods in multicriteria analysis," ULB Institutional Repository 2013/9305, ULB -- Universite Libre de Bruxelles.
    3. Bertrand Mareschal & Jean Pierre Brans, 1992. "PROMETHEE V: MCDM problems with segmentation constraints," ULB Institutional Repository 2013/9341, ULB -- Universite Libre de Bruxelles.
    4. Behzadian, Majid & Kazemzadeh, R.B. & Albadvi, A. & Aghdasi, M., 2010. "PROMETHEE: A comprehensive literature review on methodologies and applications," European Journal of Operational Research, Elsevier, vol. 200(1), pages 198-215, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Casado, Ramon Swell Gomes Rodrigues & Alencar, Marcelo Hazin & de Almeida, Adiel Teixeira, 2022. "Combining a multidimensional risk evaluation with an implicit enumeration algorithm to tackle the portfolio selection problem of a natural gas pipeline," Reliability Engineering and System Safety, Elsevier, vol. 221(C).
    2. Madani Bezoui & Mustapha Moulaï & Ahcène Bounceur & Reinhardt Euler, 2019. "An iterative method for solving a bi-objective constrained portfolio optimization problem," Computational Optimization and Applications, Springer, vol. 72(2), pages 479-498, March.
    3. Pohl, Erik & Geldermann, Jutta, 2024. "Selection of multi-criteria energy efficiency and emission abatement portfolios in container terminals," European Journal of Operational Research, Elsevier, vol. 316(1), pages 386-395.
    4. Morton, Alec, 2015. "Measurement issues in the evaluation of projects in a project portfolio," European Journal of Operational Research, Elsevier, vol. 245(3), pages 789-796.
    5. M. Fontana & D. Morais, 2013. "Using Promethee V to Select Alternatives so as to Rehabilitate Water Supply Network with Detected Leaks," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 27(11), pages 4021-4037, September.
    6. de Almeida Filho, Adiel T. & Clemente, Thárcylla R.N. & Morais, Danielle Costa & de Almeida, Adiel Teixeira, 2018. "Preference modeling experiments with surrogate weighting procedures for the PROMETHEE method," European Journal of Operational Research, Elsevier, vol. 264(2), pages 453-461.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Goswami Shankha Shubhra, 2020. "Outranking Methods: Promethee I and Promethee II," Foundations of Management, Sciendo, vol. 12(1), pages 93-110, January.
    2. Corrente, Salvatore & Figueira, José Rui & Greco, Salvatore, 2014. "The SMAA-PROMETHEE method," European Journal of Operational Research, Elsevier, vol. 239(2), pages 514-522.
    3. Jelena Kilić Pamuković & Katarina Rogulj & Daniela Dumanić & Nikša Jajac, 2020. "A Sustainable Approach for the Maintenance of Asphalt Pavement Construction," Sustainability, MDPI, vol. 13(1), pages 1-18, December.
    4. Önder Çağlayan & Murat Aymelek, 2024. "An Integrated Multi-Criteria Decision Support Model for Sustainable Ship Queuing Policy Application via Vessel Traffic Service (VTS)," Sustainability, MDPI, vol. 16(11), pages 1-33, May.
    5. Marcio Pereira Basilio & Valdecy Pereira & Fatih Yigit, 2023. "New Hybrid EC-Promethee Method with Multiple Iterations of Random Weight Ranges: Applied to the Choice of Policing Strategies," Mathematics, MDPI, vol. 11(21), pages 1-34, October.
    6. Aikaterini Papapostolou & Charikleia Karakosta & Kalliopi-Anastasia Kourti & Haris Doukas & John Psarras, 2019. "Supporting Europe’s Energy Policy Towards a Decarbonised Energy System: A Comparative Assessment," Sustainability, MDPI, vol. 11(15), pages 1-26, July.
    7. Marta Bottero & Chiara D’Alpaos & Alessandra Oppio, 2019. "Ranking of Adaptive Reuse Strategies for Abandoned Industrial Heritage in Vulnerable Contexts: A Multiple Criteria Decision Aiding Approach," Sustainability, MDPI, vol. 11(3), pages 1-18, February.
    8. Edmundas Kazimieras Zavadskas & Jurgita Antucheviciene & Tatjana Vilutiene & Hojjat Adeli, 2017. "Sustainable Decision-Making in Civil Engineering, Construction and Building Technology," Sustainability, MDPI, vol. 10(1), pages 1-21, December.
    9. Gokhan Ozkaya & Ayse Demirhan, 2023. "Analysis of Countries in Terms of Artificial Intelligence Technologies: PROMETHEE and GAIA Method Approach," Sustainability, MDPI, vol. 15(5), pages 1-27, March.
    10. Lucia Rocchi & Anthony G. Rizzo & Luisa Paolotti & Antonio Boggia & Maria Attard, 2024. "Assessing climate change vulnerability of coastal roads," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 29(5), pages 1-29, June.
    11. Irena Bitunjac & Nikša Jajac & Ivan Katavić, 2016. "Decision Support to Sustainable Management of Bottom Trawl Fleet," Sustainability, MDPI, vol. 8(3), pages 1-23, March.
    12. Giovanni Ottomano Palmisano & Lucia Rocchi & Lorenzo Negri & Lea Piscitelli, 2025. "Evaluating the Progress of the EU Countries Towards Implementation of the European Green Deal: A Multiple Criteria Approach," Land, MDPI, vol. 14(1), pages 1-29, January.
    13. Mohammad Nikoo & Nafise Khorramshokouh & Shahryar Monghasemi, 2015. "Optimal Design of Detention Rockfill Dams Using a Simulation-Based Optimization Approach with Mixed Sediment in the Flow," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 29(15), pages 5469-5488, December.
    14. Majid Baseer & Christian Ghiaus & Roxane Viala & Ninon Gauthier & Souleymane Daniel, 2023. "pELECTRE-Tri: Probabilistic ELECTRE-Tri Method—Application for the Energy Renovation of Buildings," Energies, MDPI, vol. 16(14), pages 1-25, July.
    15. Jarosław Wątróbski & Krzysztof Małecki & Kinga Kijewska & Stanisław Iwan & Artur Karczmarczyk & Russell G. Thompson, 2017. "Multi-Criteria Analysis of Electric Vans for City Logistics," Sustainability, MDPI, vol. 9(8), pages 1-34, August.
    16. da Cunha, Richard Alex & Rangel, Luís Alberto Duncan & Rudolf, Christian A. & Santos, Luiza dos, 2022. "A decision support approach employing the PROMETHEE method and risk factors for critical supply assessment in large-scale projects," Operations Research Perspectives, Elsevier, vol. 9(C).
    17. Irina Vinogradova, 2019. "Multi-Attribute Decision-Making Methods as a Part of Mathematical Optimization," Mathematics, MDPI, vol. 7(10), pages 1-21, October.
    18. Tsuen-Ho Hsu & Ling-Zhong Lin, 2014. "Using Fuzzy Preference Method for Group Package Tour Based on the Risk Perception," Group Decision and Negotiation, Springer, vol. 23(2), pages 299-323, March.
    19. Behzadian, Majid & Kazemzadeh, R.B. & Albadvi, A. & Aghdasi, M., 2010. "PROMETHEE: A comprehensive literature review on methodologies and applications," European Journal of Operational Research, Elsevier, vol. 200(1), pages 198-215, January.
    20. Giovanni Ottomano Palmisano & Ruggiero Sardaro & Piermichele La Sala, 2022. "Recovery and Resilience of the Inner Areas: Identifying Collective Policy Actions through PROMETHEE II," Land, MDPI, vol. 11(8), pages 1-22, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:219:y:2012:i:1:p:198-200. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eor .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.