Are MCDA Methods Benchmarkable? A Comparative Study of TOPSIS, VIKOR, COPRAS, and PROMETHEE II Methods

By Wojciech Sałabun, Jaroslaw Watrobski, Andrii Shekhovtsov. Symmetry, 2020

428 citations recorded by the source corpus.

Multi-Criteria Decision-Analysis (MCDA) methods are successfully applied in different fields and disciplines. However, in many studies, the problem of selecting the proper methods and parameters for the decision problems is raised. The paper undertakes an attempt to benchmark selected Multi-Criteria Decision Analysis (MCDA) methods. To achieve that, a set of feasible MCDA methods was identified. Based on reference literature guidelines, a simulation experiment was planned. The formal foundations of the authors’ approach provide a reference set of MCDA methods ( Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR), Complex Proportional Assessment (COPRAS), and PROMETHEE II: Preference Ranking Organization Method for Enrichment of Evaluations) along with their similarity coefficients (Spearman correlation coefficients and WS coefficient). This allowed the generation of a set of models differentiated by the number of attributes and decision variants, as well as similarity research for the obtained rankings sets. As the authors aim to build a complex benchmarking model, additional dimensions were taken into account during the simulation experiments. The aspects of the performed analysis and benchmarking methods include various weighing methods (results obtained using entropy and standard deviation methods) and varied techniques of normalization of MCDA model input data. Comparative analyses showed the detailed influence of values of particular parameters on the final form and a similarity of the final rankings obtained by different MCDA methods.

Subfields: Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/2a501df9d4ac8c08324870b6440b66a47083a7ea

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In Management Science and Operations Research

Citations in the corpus

TOPSIS Method Based on Correlation Coefficient under Pythagorean Fuzzy Soft Environment and Its Application towards Green Supply Chain Management (2021, methodology): “[20] benchmarked and identified a set of feasible MCDA methods.”
Sustainable Higher Education Reform Quality Assessment Using SWOT Analysis with Integration of AHP and Entropy Models: A Case Study of Morocco (2021, neutral): “quality assessment and evaluation [26].”
Comparison between Multi-Criteria Decision-Making Methods and Evaluating the Quality of Life at Different Spatial Levels (2021, methodology): “Based on the descending order of Ci, the criterions can be ranked [29].”
Determination of Objective Weights Using a New Method Based on the Removal Effects of Criteria (MEREC) (2021, methodology): “[30] 2020 Equal Weights, Entropy and Standard Deviation Benchmarking of the MCDM methods”