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Multicriteria Ranking Using Weights Which Minimize the Score Range

In: New Developments in Multiple Objective and Goal Programming

Author

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  • Chris Tofallis

    (The Business School, University of Hertfordshire)

Abstract

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 maximise the lowest score (assuming there is an upper bound to scores). This is equivalent to finding the weights which minimize the maximum deviation, or range, between the worst and best scores (minimax). At first glance this seems to be an equitable way of apportioning weight, and the Rawlsian theory of justice has been cited in support.

Suggested Citation

  • Chris Tofallis, 2010. "Multicriteria Ranking Using Weights Which Minimize the Score Range," Lecture Notes in Economics and Mathematical Systems, in: Dylan Jones & Mehrdad Tamiz & Jana Ries (ed.), New Developments in Multiple Objective and Goal Programming, pages 133-140, Springer.
    • Handle: RePEc:spr:lnechp:978-3-642-10354-4_9
    DOI: 10.1007/978-3-642-10354-4_9
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    Cited by:

    1. Chris Tofallis, 2013. "An automatic-democratic approach to weight setting for the new human development index," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(4), pages 1325-1345, October.

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