Multiple-Criteria Decision Making - Research Article from Encyclopedia of Management

This encyclopedia article consists of approximately 8 pages of information about Multiple-Criteria Decision Making.

Multiple-Criteria Decision Making - Research Article from Encyclopedia of Management

This encyclopedia article consists of approximately 8 pages of information about Multiple-Criteria Decision Making.
This section contains 2,286 words
(approx. 8 pages at 300 words per page)
Buy the Multiple-Criteria Decision Making Encyclopedia Article

Real-world decision-making problems are usually too complex and ill-structured to be considered through the examination of a single criterion, attribute, or point of view that will lead to the optimum decision. In fact, such a unidimensional approach is merely an oversimplification of the actual nature of the problem at hand, and it can lead to unrealistic decisions. A more appealing approach would be the simultaneous consideration of all pertinent factors that are related to the problem. However, through this approach some very essential issues/questions emerge: how can several and often conflicting factors be aggregated into a single evaluation model? Is this evaluation model a unique and optimal one? Researchers from a variety of disciplines have tried to address the former question using statistical approaches, artificial intelligence techniques, and operations research methodologies. The success and usefulness of these attempts should be examined with regard...

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This section contains 2,286 words
(approx. 8 pages at 300 words per page)
Buy the Multiple-Criteria Decision Making Encyclopedia Article
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Multiple-Criteria Decision Making from Gale. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.