Expert Systems with Applications
Multiple criteria decision analysis, TOPSIS, OWA, Distance-based ranking, Decision aggregation
A hybrid approach integrating OWA (Ordered Weighted Averaging) aggregation into TOPSIS (technique for order performance by similarity to ideal solution) is proposed to tackle multiple criteria decision analysis (MCDA) problems. First, the setting of extreme points (ideal and anti-ideal points) in TOPSIS is redefined and extended for handling the multiple extreme points situation where a decision maker (DM) or multiple DMs can provide more than one pair of extreme points. Next, three different aggregation schemes are designed to integrate OWA into the TOPSIS analysis procedure. A numerical example is provided to demonstrate the proposed approach and the results are compared for different aggregation settings and confirm the robustness of rankings from different scenarios.
Chen, Ye; Li, Kevin W. Dr.; and Liu, Si-feng. (2011). An OWA-TOPSIS method for multiple criteria decision analysis. Expert Systems with Applications, 38 (5), 5205-5211.