A Multi-Attribute Decision Making Model Based on Distance from Decision Maker's Preferences

Article type: Research Article

Authors: Stanujkic, Dragisa | Magdalinovic, Nedeljko | Jovanovic, Rodoljub

Affiliations: Faculty of Management Zajecar, Megatrend University, Park Suma “Kraljevica” bb, 19000 Zajecar, Serbia, e-mail: dragisa.stanujkic@fmz.edu.rs

Abstract: This paper proposes a new multi-attribute ranking procedure based on distance from decision-maker preferences. This method has two phases. In the first phase, the decision maker is asked to define the preferred performance for each attribute. In the second phase, Weighted Sum method and new distance-based normalization procedure are used to determine the overall performance rating of alternatives.

Keywords: multi-attribute, decision making, preferred performance, weighted sum method, ideal point approach

Journal: Informatica, vol. 24, no. 1, pp. 103-118, 2013