PROMETHEE I Method Application for Identification of the Best Alternative Cover Image

PROMETHEE I metodo taikymas geriausiai alternatyvai nustatyti
PROMETHEE I Method Application for Identification of the Best Alternative

Author(s): Askoldas Podviezko, Valentinas Podvezko
Subject(s): Economy
Published by: Vilnius Gediminas Technical University
Keywords: PROMETHEE I method; multicriteria methods; best alternative; preference function.

Summary/Abstract: Decision making in human activity is often about an ability to make the best choice among a few possible alternatives. Such tasks could be selection of a technological or investment project, comparative analysis of commercial activity, financial strength or strategic potential of a number of enterprises, assessment of development level of different countries or country regions, etc. A considerable recent usage increase of multicriteria methods in quantitative analysis of social or economic phenomena is clearly observed. Such methods, but with deeper logic are using the so-called preference functions. PROMETHEE methods are such methods. Choice of the functions and their parameters is made by decision-makers. Chronologically, the first such a method is called PROMETHEE I. It furnished its core logic for all subsequent PROMETHEE methods. In such cases, when multi-criteria methods do not offer the best alternative, PROMETHEE I does it.

  • Issue Year: 2009
  • Issue No: 2
  • Page Range: 84-92
  • Page Count: 9
  • Language: Lithuanian