Journal
APPLIED MATHEMATICS AND COMPUTATION
Volume 218, Issue 8, Pages 4295-4304Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.amc.2011.10.001
Keywords
TOPSIS; Multi-attribute decision making; Normalization; Distance function; Risk attitude
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Funding
- National Science Foundation [NSC 99-2410-H-032-081]
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TOPSIS is a multi-attribute decision making (MADM) technique for ranking and selection of a number of externally determined alternatives through distance measures. When the collected data for each criterion is interval and the risk attitude for a decision maker is unknown, we present a new TOPSIS method for normalizing the collected data and ranking the alternatives. The results show that the decision maker with different risk attitude ranks the different alternatives. (C) 2011 Elsevier Inc. All rights reserved.
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