Multiple Criteria Decision Analysis - An Integrated Approach

The field of multiple criteria decision analysis (MCDA), also termed multiple criteria decision aid, or multiple criteria decision making (MCDM), has developed rapidly over the past quarter century and in the process a number of divergent schools of thought have emerged. This can make it difficult for a new entrant into the field to develop a comprehensive appreciation of the range of tools and approaches which are available to assist decision makers in dealing with the ever-present difficulties of seeking compromise or consensus between conflicting inter ests and goals, i.e. the "multiple criteria". The diversity of philosophies and models makes it equally difficult for potential users of MCDA, i.e. management scientists and/or decision makers facing problems involving conflicting goals, to gain a clear understanding of which methodologies are appropriate to their particular context. Our intention in writing this book has been to provide a compre hensive yet widely accessible overview of the main streams of thought within MCDA. We aim to provide readers with sufficient awareness of the underlying philosophies and theories, understanding of the practi cal details of the methods, and insight into practice to enable them to implement any of the approaches in an informed manner. As the title of the book indicates, our emphasis is on developing an integrated view of MCDA, which we perceive to incorporate both integration of differ ent schools of thought within MCDA, and integration of MCDA with broader management theory, science and practice.

List of contents

1. Introduction.- 2. The Multiple Criteria Problem.- 4. Preference Modelling.- 5. Value Function Methods: Practical Basics.- 6. Value Function Methods: Indirect and Interactive.- 7. Goal and Reference Point Methods.- 8. Outranking Methods.- 9. Implementation of MCDA: Practical Issues and Insights.- 10. MCDA in a Broader Context.- 11. An Integrated Approach to MCDA.- Appendices.- MCDA Software Survey.- Glossary of Terms and Acronyms.- References.

Summary

The field of multiple criteria decision analysis (MCDA), also termed multiple criteria decision aid, or multiple criteria decision making (MCDM), has developed rapidly over the past quarter century and in the process a number of divergent schools of thought have emerged. This can make it difficult for a new entrant into the field to develop a comprehensive appreciation of the range of tools and approaches which are available to assist decision makers in dealing with the ever-present difficulties of seeking compromise or consensus between conflicting inter ests and goals, i.e. the "multiple criteria". The diversity of philosophies and models makes it equally difficult for potential users of MCDA, i.e. management scientists and/or decision makers facing problems involving conflicting goals, to gain a clear understanding of which methodologies are appropriate to their particular context. Our intention in writing this book has been to provide a compre hensive yet widely accessible overview of the main streams of thought within MCDA. We aim to provide readers with sufficient awareness of the underlying philosophies and theories, understanding of the practi cal details of the methods, and insight into practice to enable them to implement any of the approaches in an informed manner. As the title of the book indicates, our emphasis is on developing an integrated view of MCDA, which we perceive to incorporate both integration of differ ent schools of thought within MCDA, and integration of MCDA with broader management theory, science and practice.

Additional text

`The book...is an excellent overview of the different multiple criteria approaches developed in divergent schools of thought which emerged in the last three decades. This book is not only a theoretical document, but also provides good coverage of practical issues. It can be recommended to a broad audience, ranging from those in academic institutions to practitioners, as well as those who are interested in finding information on multiple criteria approaches, methods and techniques. It is an excellent book in the main area of Operations Research and Decision Analysis, with a special focus on Multiple Criteria and is suitable for undergraduate and graduate students.'
José R. Figueira, DIMACS Center, Rutgers University

Report

`The book...is an excellent overview of the different multiple criteria approaches developed in divergent schools of thought which emerged in the last three decades. This book is not only a theoretical document, but also provides good coverage of practical issues. It can be recommended to a broad audience, ranging from those in academic institutions to practitioners, as well as those who are interested in finding information on multiple criteria approaches, methods and techniques. It is an excellent book in the main area of Operations Research and Decision Analysis, with a special focus on Multiple Criteria and is suitable for undergraduate and graduate students.'
José R. Figueira, DIMACS Center, Rutgers University

Product details

• Authors: Valeri Belton, Valerie Belton, Theo Stewart, Theodor Stewart, Theodor J. Stewart
• Publisher: Springer Netherlands
• Languages: English
• Product format: Hardback
• Released: 18.04.2005
• EAN: 9780792375050
• ISBN: 978-0-7923-7505-0
• No. of pages: 372
• Dimensions: 161 mm x 242 mm x 24 mm
• Weight: 760 g
• Illustrations: XIX, 372 p.
• Subject: Social sciences, law, business > Business > General, dictionaries