Total area based on orthogonal vectors (Taov) as a novel method of multi-criteria decision aid

Seyed Hossein Razavi Hajiagha, Hannan Amoozad Mahdiraji, Shide Sadat Hashemi

Research output: Contribution to journalArticle

Abstract

Multi criteria decision aid (MCDA) deals with the problem of evaluating a set of finite alternatives regard to a set of finite criteria. A remarkable volume of qualitative and quantitative researches are done on decision making methods and situations, indicating its important role for managers at different organizational levels. These types of problems are applied in many different fields of human life. A challenging feature of these problems is non-existence of an optimal solution due to considering multiple criteria and the proposed methods seeking to find a satisfactory solution called efficient of Pareto-optimal. In consideration of MCDA problem, in this paper a new method is proposed for solving DM problems, consisting three fundamental steps of initialization, orthogonalization, and comparison. Thus, a new MCDA method called total area based on orthogonal vectors (TAOV) is introduced. This method is constructed on orthogonality of decision criteria. Application of TAOV method is illustrated in a decision problem and its performance is evaluated regard to other MCDA methods. Furthermore, its features are explained around the features of a desirable MCDA method. The obtained results indicate that the TAOV method can be considered as an acceptable method of handling multi-criteria decision making problems.

Original languageEnglish
Pages (from-to)1679-1694
Number of pages16
JournalTechnological and Economic Development of Economy
Volume24
Issue number4
DOIs
Publication statusPublished - 1 Jan 2018
Externally publishedYes

Fingerprint

Multicriteria decision aid
Decision making
Multicriteria decision-making
Multiple criteria
Decision criteria
Organizational level
Optimal solution
Problem solving
Quantitative research
Managers
Qualitative research

Bibliographical note

This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Keywords

  • Decision making
  • Multi-criteria decision aid
  • Orthogonality
  • Pareto-optimal
  • Principal component analysis
  • TAOV

ASJC Scopus subject areas

  • Finance

Cite this

Total area based on orthogonal vectors (Taov) as a novel method of multi-criteria decision aid. / Razavi Hajiagha, Seyed Hossein; Amoozad Mahdiraji, Hannan; Hashemi, Shide Sadat.

In: Technological and Economic Development of Economy, Vol. 24, No. 4, 01.01.2018, p. 1679-1694.

Research output: Contribution to journalArticle

Razavi Hajiagha, Seyed Hossein ; Amoozad Mahdiraji, Hannan ; Hashemi, Shide Sadat. / Total area based on orthogonal vectors (Taov) as a novel method of multi-criteria decision aid. In: Technological and Economic Development of Economy. 2018 ; Vol. 24, No. 4. pp. 1679-1694.
@article{6634bd129ba6455394b2a86d36884444,
title = "Total area based on orthogonal vectors (Taov) as a novel method of multi-criteria decision aid",
abstract = "Multi criteria decision aid (MCDA) deals with the problem of evaluating a set of finite alternatives regard to a set of finite criteria. A remarkable volume of qualitative and quantitative researches are done on decision making methods and situations, indicating its important role for managers at different organizational levels. These types of problems are applied in many different fields of human life. A challenging feature of these problems is non-existence of an optimal solution due to considering multiple criteria and the proposed methods seeking to find a satisfactory solution called efficient of Pareto-optimal. In consideration of MCDA problem, in this paper a new method is proposed for solving DM problems, consisting three fundamental steps of initialization, orthogonalization, and comparison. Thus, a new MCDA method called total area based on orthogonal vectors (TAOV) is introduced. This method is constructed on orthogonality of decision criteria. Application of TAOV method is illustrated in a decision problem and its performance is evaluated regard to other MCDA methods. Furthermore, its features are explained around the features of a desirable MCDA method. The obtained results indicate that the TAOV method can be considered as an acceptable method of handling multi-criteria decision making problems.",
keywords = "Decision making, Multi-criteria decision aid, Orthogonality, Pareto-optimal, Principal component analysis, TAOV",
author = "{Razavi Hajiagha}, {Seyed Hossein} and {Amoozad Mahdiraji}, Hannan and Hashemi, {Shide Sadat}",
note = "This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.",
year = "2018",
month = "1",
day = "1",
doi = "10.3846/20294913.2016.1275877",
language = "English",
volume = "24",
pages = "1679--1694",
journal = "Technological and Economic Development of Economy",
issn = "2029-4913",
number = "4",

}

TY - JOUR

T1 - Total area based on orthogonal vectors (Taov) as a novel method of multi-criteria decision aid

AU - Razavi Hajiagha, Seyed Hossein

AU - Amoozad Mahdiraji, Hannan

AU - Hashemi, Shide Sadat

N1 - This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

PY - 2018/1/1

Y1 - 2018/1/1

N2 - Multi criteria decision aid (MCDA) deals with the problem of evaluating a set of finite alternatives regard to a set of finite criteria. A remarkable volume of qualitative and quantitative researches are done on decision making methods and situations, indicating its important role for managers at different organizational levels. These types of problems are applied in many different fields of human life. A challenging feature of these problems is non-existence of an optimal solution due to considering multiple criteria and the proposed methods seeking to find a satisfactory solution called efficient of Pareto-optimal. In consideration of MCDA problem, in this paper a new method is proposed for solving DM problems, consisting three fundamental steps of initialization, orthogonalization, and comparison. Thus, a new MCDA method called total area based on orthogonal vectors (TAOV) is introduced. This method is constructed on orthogonality of decision criteria. Application of TAOV method is illustrated in a decision problem and its performance is evaluated regard to other MCDA methods. Furthermore, its features are explained around the features of a desirable MCDA method. The obtained results indicate that the TAOV method can be considered as an acceptable method of handling multi-criteria decision making problems.

AB - Multi criteria decision aid (MCDA) deals with the problem of evaluating a set of finite alternatives regard to a set of finite criteria. A remarkable volume of qualitative and quantitative researches are done on decision making methods and situations, indicating its important role for managers at different organizational levels. These types of problems are applied in many different fields of human life. A challenging feature of these problems is non-existence of an optimal solution due to considering multiple criteria and the proposed methods seeking to find a satisfactory solution called efficient of Pareto-optimal. In consideration of MCDA problem, in this paper a new method is proposed for solving DM problems, consisting three fundamental steps of initialization, orthogonalization, and comparison. Thus, a new MCDA method called total area based on orthogonal vectors (TAOV) is introduced. This method is constructed on orthogonality of decision criteria. Application of TAOV method is illustrated in a decision problem and its performance is evaluated regard to other MCDA methods. Furthermore, its features are explained around the features of a desirable MCDA method. The obtained results indicate that the TAOV method can be considered as an acceptable method of handling multi-criteria decision making problems.

KW - Decision making

KW - Multi-criteria decision aid

KW - Orthogonality

KW - Pareto-optimal

KW - Principal component analysis

KW - TAOV

UR - http://www.scopus.com/inward/record.url?scp=85063996403&partnerID=8YFLogxK

U2 - 10.3846/20294913.2016.1275877

DO - 10.3846/20294913.2016.1275877

M3 - Article

VL - 24

SP - 1679

EP - 1694

JO - Technological and Economic Development of Economy

JF - Technological and Economic Development of Economy

SN - 2029-4913

IS - 4

ER -