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Multi-Criteria Decision Making (MCDM) Methods and Concepts

Hamed Taherdoost, Mitra Madanchian

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Abstract

Multi-criteria decision-making (MCDM) is one of the main decision-making problems which aims to determine the best alternative by considering more than one criterion in the selection process. MCDM has manifold tools and methods that can be applied in different fields from finance to engineering design. This entry aims to provide a survey on the MCDM concept, its applications, main categories, and different methods. The final section provides manifold information and statistics on the published works in the MCDM fields. Some of the main methods are also listed in this section.

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What this paper is about

Multi-criteria decision-making (MCDM) is one of the main decision-making problems which aims to determine the best alternative by considering more than one criterion in the selection process. MCDM has manifold tools and methods that can be applied in different fields from finance to engineering design. This entry aims to provide a survey on the MCDM concept, its applications, main categories, and different methods. The final section provides manifold information and statistics on the published works in the MCDM fields. Some of the main methods are also listed in this section.

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Available abstract

Multi-criteria decision-making (MCDM) is one of the main decision-making problems which aims to determine the best alternative by considering more than one criterion in the selection process. MCDM has manifold tools and methods that can be applied in different fields from finance to engineering design. This entry aims to provide a survey on the MCDM concept, its applications, main categories, and different methods. The final section provides manifold information and statistics on the published works in the MCDM fields. Some of the main methods are also listed in this section.

Key concepts: Multiple-criteria decision analysis, Selection (genetic algorithm), Management science, Computer science, Section (typography), Process (computing), Operations research, Mathematics

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