A typical approach to handle the complexity of multi-faceted decision-making problems is to use multiattribute decision-making (MADM) methods based on pairwise comparisons. Fuzzy set theory has also been employed to cope with the uncertainty and vagueness involved in conducting the comparisons between components of a decision model. An important issue regarding the reliability of the output is ...

In order to resolve cases related to an alternative selection problems (MADM problems), various methods have been applied. Many methods are used to solve the MADM problems, which sometimes give different results. To resolve MADM problem, we can use AHP and TOPSIS methods. The advantages of AHP method are it can provide solutions through the analysis of quantitative and qualitative decision. In ...

As one of the emerging renewable resources, the use of photovoltaic cells has become a promise for offering clean and plentiful energy. The selection of a best photovoltaic cell for a promoter plays a significant role in aspect of maximizing income, minimizing costs and conferring high maturity and reliability, which is a typical multiple attribute decision making (MADM) problem. Although many ...

Purpose: In this article, we combine this new approach based on the concepts of Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) to evaluate and select the best supplier. Design/methodology/approach: Supplier evaluation is a Multi-Attribute Decision-Making (MADM) problem that is affected by quantitative and qualitative factors, some of which may conflict. Since most of th...

This article addresses reinsurance decision making process, which involves the insurance company and the reinsurance company, and is negotiated through reinsurance intermediaries. The article proposes a decision flow to model the reinsurance design and selection process. In contrast to existing literature on pure proportional reinsurance or stop-loss reinsurance, this article focuses on the com...