The main purpose of this paper is to develop a fuzzy multiple criteria decision-making (MCDM) model to evaluate the investment risk of location selection for container terminals. Firstly, some concepts and methods used to develop a fuzzy MCDM algorithm are briefly introduced. Secondly, a step-by-step fuzzy MCDM algorithm based on the concept of integral value is proposed. Finally, a numerical e...

In the real-world problems, we are likely confronted with some alternatives that need to be evaluated with respect to multiple conflicting criteria. Multi-criteria decision-making (MCDM) refers to making decisions in such a situation. There are many methods and techniques available for solving MCDM problems. The evaluation based on distance from average solution (EDAS) method is an efficient mu...

Classification algorithm selection is an important issue in many disciplines. Since it normally involves more than one criterion, the task of algorithm selection can be modeled as multiple criteria decision making (MCDM) problems. Different MCDM methods evaluate classifiers from different aspects and thus they may produce divergent rankings of classifiers. The goal of this paper is to propose a...

Multi-Criteria Decision Making (MCDM) involves the selection of the best actions from a set of alternatives, each of which is evaluated against multiple, and often conflicting, criteria. Most of the existing MCDM methods only focus on decisions under certainty. The criteria were evaluated separately as if they were independent of each other. Complex, often uncertain interactions between criteri...

Multi criteria decision making (MCDM) methods like analytic hierarchy process, ELECTRE and multi-attribute utility theory are critically studied. They have irregularities in terms of the reliability of ranking of the best alternatives. The Routing Decision Support (RDS) algorithm is trying to improve some of their deficiencies. This paper gives a mathematical verification that the RDS algorithm...

In the last few years, several Multi-criteria Decision Making (MCDM) methods have been proposed. One of these methods, known as TODIM (an acronym in Portuguese for Interative Multi-criteria Decision Making), has been extended to uncertain MCDM problems. Firstly, using fuzzy numbers and recently using intuitionistic fuzzy numbers. The recently developed intuitionistic fuzzy TODIM, for short, IFT...

Multiple criteria decision making (MCDM) is widely used in ranking one or more alternatives from a set of available alternatives with respect to multiple criteria. Inspired by MCDM which are methods to systematically evaluate alternatives, we propose a new Fuzzy TOPSIS for evaluating outsourcing software companies both using subjective and objective weights. While crisp data are inadequate to m...

Multi Criteria Decision Making (MCDM) provides strong decision making in domains where selection of best alternative is highly complex. This survey paper reviews the main streams of consideration in multi criteria decision making theory and practice in detail. The main purpose is to identify various applications and the approaches, and to suggest approaches which are most robustly and effective...