An integrated approach towards modeling ranked weights. (September 2020)

• Record Type: Journal Article
• Authors: Liu, Dun; Li, Tianrui; Liang, Decui
• Is Part Of: Computers & industrial engineering. Volume 147(2020)
• Publication Date: 2020-09
• Subjects: Decision analysis -- Multi-attribute decision-making -- Rank order information -- Weight assessment -- Approximate weights; Engineering -- Data processing -- Periodicals; Industrial engineering -- Periodicals; 620.00285
• DOI: 10.1016/j.cie.2020.106629
• Languages: English
• ISSNs: 0360-8352

Abstract

Highlights: We proposed a programming approach to integrate the ranked weight methods in MADM. We proposed a new weight assessment method named rank order total (ROT) weights. The propositions and characteristics of these AWMs are discussed in this paper. Abstract: In the decision-making process, various approximate weighting methods such as equal weights, rank-order centroid weights, rank-sum weights, and rank reciprocal weights, have been proposed to deal with multi-attribute decision-making (MADM) problems in situations where only rank order information can be captured. In this paper, we seek to contribute fresh insights through the development of an integrated programming approach which unifies different weighting methods. From this integrated approach, a new weight method, rank order total weights (ROT) is introduced, and the assessment methods with associated programming equations, propositions and characteristics are carefully investigated. The effectiveness of this approach is demonstrated by using an illustration of real problem with U.S. business school ranking.