Decision risk analysis for an interval TOPSIS method |
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| Authors: | Ruey-Chyn Tsaur |
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| Institution: | Department of Management Sciences, Tamkang University, No. 151, Yingzhuan Rd., Danshui Dist., New Taipei City 25137, Taiwan, ROC |
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| Abstract: | 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. |
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| Keywords: | TOPSIS Multi-attribute decision making Normalization Distance function Risk attitude |
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