An Overview of ELECTRE Methods and their Recent Extensions

We present main characteristics of ELECTRE (ELimination Et Choix Traduisant la REalite - ELimination and Choice Expressing the REality) family methods, designed for multiple criteria decision aiding. These methods use as a preference model an outranking relation on the set of actions-it is constructed in result of concordance and nondiscordance tests involving a specific input preference information. After a brief description of the constructivist conception in which the ELECTRE methods are inserted, we present the main features of these methods. We discuss such characteristic features as the possibility of taking into account positive and negative reasons in the modelling of preferences, without requiring commensurable performance scales; the use of discriminating thresholds for taking into account the imperfect knowledge of data; the absence of systematic compensation between 'gains' and 'losses'. The main weaknesses are also presented. Then, some aspects related to new developments are outlined. These are related to some new methodological developments, new procedures, axiomatic analysis, software tools and several other aspects. This paper is an updated version of a chapter published by the authors under the title `ELECTRE Methods: Main Features and Recent Developments' in C. Zopounidis and P. Pardalos (Editors): Handbook of Multicriteria Analysis, Springer, Berlin 2010, pp. 51-89. Copyright (C) 2012 John Wiley & Sons, Ltd.