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Stochastic Approaches to Pairwise Comparisons Matrices in Decision-Making

In: Pairwise Comparisons Method

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  • Jaroslav Ramík

    (Silesian University in Opava)

Abstract

The aim of this chapter is to review the key statistical approaches to generating the weights of alternatives from a PC matrix and, in so doing, to relate the embedded models into the traditional linear stochastic models used in the method of pairwise comparisons. The chapter comprises a brief account of the method of pairwise comparisons and a formal specification of a PC matrix. Statistical approaches to the analysis of judgment matrices are then introduced within the context of pairwise comparisons, with those which are distribution based, and those based more directly on the method of pairwise comparisons. Illustrative examples are presented and discussed and conclusions and prospects for further research are given.

Suggested Citation

  • Jaroslav Ramík, 2020. "Stochastic Approaches to Pairwise Comparisons Matrices in Decision-Making," Lecture Notes in Economics and Mathematical Systems, in: Pairwise Comparisons Method, chapter 0, pages 171-185, Springer.
    • Handle: RePEc:spr:lnechp:978-3-030-39891-0_5
    DOI: 10.1007/978-3-030-39891-0_5
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