A New Stochastic Multi-criteria Decision Analysis Tool based on ELECTRE III Method

No Thumbnail Available
File version
Author(s)
Hanandeh, Ali
El-Zein, Abbas
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)

Wendy Proctor

Date
2007
Size
File type(s)
Location

Noosaville, Qld, Australia

License
Abstract

Making decisions under conditions of uncertainty is a challenging task, yet is not uncommon when engineering or management alternatives are evaluated through criteria of social and environmental sustainability. ELECTRE III is a widely-used multi-criteria decision method for ranking alternatives. The method accounts for uncertainty in criteria values by including pseudo-criteria; usually, an indifference, preference and veto thresholds are set for each criteria. Decision makers are also required to provide criteria weights signify each criterion's importance. However, choosing realistic values for each threshold remains a difficult task. Moreover, criteria weightings are known to be a major factor affecting the end result of the ranking exercise. This paper, presents a modified version of ELECTRE III, called ELECTRE-SS, that utilises stochastic techniques to account for uncertainty in the weightings and threshold values of criteria. The method can be particularly useful when a large number of stakeholders are involved in the decision-making process. The method is described and validated and its scope illustrated thorough case problems.

Journal Title
Conference Title

Re-inventing Sustainability: A climate for change

Book Title
Edition
Volume
Issue
Thesis Type
Degree Program
School
DOI
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement
Item Access Status
Note
Access the data
Related item(s)
Subject

Ecological Applications not elsewhere classified

Persistent link to this record
Citation