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Weighted sum model. In decision theory, the weighted sum model (WSM), [1][2] also called weighted linear combination (WLC) [3] or simple additive weighting (SAW), [4] is the best known and simplest multi-criteria decision analysis (MCDA) / multi-criteria decision making method for evaluating a number of alternatives in terms of a number of ...
Multi-objective optimization or Pareto optimization (also known as multi-objective programming, vector optimization, multicriteria optimization, or multiattribute optimization) is an area of multiple-criteria decision making that is concerned with mathematical optimization problems involving more than one objective function to be optimized simultaneously.
Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). It is also known as multiple attribute utility theory ...
The weighted product model (WPM) is a popular multi-criteria decision analysis (MCDA) / multi-criteria decision making (MCDM) method. It is similar to the weighted sum model (WSM) in that it produces a simple score, but has the very important advantage of overcoming the issue of 'adding apples and pears' i.e. adding together quantities measured in different units.
TOPSIS. The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method, which was originally developed by Ching-Lai Hwang and Yoon in 1981 [1] with further developments by Yoon in 1987, [2] and Hwang, Lai and Liu in 1993. [3] TOPSIS is based on the concept that the chosen alternative ...
The multiple subset sum problem is an optimization problem in computer science and operations research. It is a generalization of the subset sum problem. The input to the problem is a multiset of n integers and a positive integer m representing the number of subsets. The goal is to construct, from the input integers, some m subsets.
Each option is first assessed, under multiple criteria, and then a subset of options is identified with the property that no other option can categorically outperform the specified option. It is a statement of impossibility of improving one variable without harming other variables in the subject of multi-objective optimization (also termed ...
Decision matrix. A decision matrix is a list of values in rows and columns that allows an analyst to systematically identify, analyze, and rate the performance of relationships between sets of values and information. Elements of a decision matrix show decisions based on certain decision criteria. The matrix is useful for looking at large masses ...