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Decision-Making for Projects Realization/Support: Approach Based on Stochastic Dominance Rules Versus Multi-Actor Multi-Criteria Analysis

In: Operations Research Proceedings 2019

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  • Dorota Górecka

    (Nicolaus Copernicus University in Toruń)

Abstract

The selection of projects for realization or co-financing is a complex process, often strategic in nature, which involves confronting trade-offs between multiple, frequently conflicting, factors. In this process the expectations of various stakeholders should be taken into account, while simultaneously ensuring the achievement of numerous objectives. This work presents and compares the application of two approaches—multi-criteria decision aiding (MCDA) methods for mixed evaluations (deterministic and stochastic ones, thus with stochastic dominance (SD) rules), e.g. BIPOLAR MIX, and multi-actor multi-criteria analysis (MAMCA)—to help decision-makers (DMs) in the project selection process. The problem is illustrated by ranking environmental infrastructure projects.

Suggested Citation

  • Dorota Górecka, 2020. "Decision-Making for Projects Realization/Support: Approach Based on Stochastic Dominance Rules Versus Multi-Actor Multi-Criteria Analysis," Operations Research Proceedings, in: Janis S. Neufeld & Udo Buscher & Rainer Lasch & Dominik Möst & Jörn Schönberger (ed.), Operations Research Proceedings 2019, pages 149-155, Springer.
    • Handle: RePEc:spr:oprchp:978-3-030-48439-2_18
    DOI: 10.1007/978-3-030-48439-2_18
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    Keywords

    MCDA; MAMCA; BIPOLAR MIX;
    All these keywords.

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