Journal of Investment and Management

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Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic

Received: 20 July 2015    Accepted: 03 August 2015    Published: 13 August 2015
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Abstract

One of the major challenges in decision making is selection among MCDM (multi criteria decision making) methods. These methods do not provide same answer to decision maker. Therefore selecting the best answer is an important dilemma. To solve this problem, methods like Borda and Copeland compilation have been proposed. However, applying these methods leads to a hybrid solution which is not necessarily the best answer. In this paper a new approach is proposed to rank different MCDM methods. This approach is AUROC (area under receiver operating characteristic) which is a data mining tool for ranking classification models. The results would show great potential of applying AUROC for ranking MCDM methods in an immense selection problem with historical outcome

DOI 10.11648/j.jim.20150405.21
Published in Journal of Investment and Management (Volume 4, Issue 5, October 2015)
Page(s) 210-215
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This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Receiver Operating Characteristic, Multi Criteria Decision Making, Area Under ROC, Ranking MADM Methods

References
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[8] J. Antucheviciene, A. Zakarevicius and E. K. Zavadskas, "Measuring Congruence of Ranking Results Applying Particular MCDM Methods," INFORMATICA, pp. 319-338, 2011.
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Author Information
  • Faculty of Management, University of Tehran, Tehran, Iran

  • College of Farabi, University of Tehran, Qom, Iran

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  • APA Style

    Seyed Behnam Khakbaz, Maryam Karimi Davijani. (2015). Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic. Journal of Investment and Management, 4(5), 210-215. https://doi.org/10.11648/j.jim.20150405.21

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    ACS Style

    Seyed Behnam Khakbaz; Maryam Karimi Davijani. Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic. J. Invest. Manag. 2015, 4(5), 210-215. doi: 10.11648/j.jim.20150405.21

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    AMA Style

    Seyed Behnam Khakbaz, Maryam Karimi Davijani. Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic. J Invest Manag. 2015;4(5):210-215. doi: 10.11648/j.jim.20150405.21

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  • @article{10.11648/j.jim.20150405.21,
      author = {Seyed Behnam Khakbaz and Maryam Karimi Davijani},
      title = {Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic},
      journal = {Journal of Investment and Management},
      volume = {4},
      number = {5},
      pages = {210-215},
      doi = {10.11648/j.jim.20150405.21},
      url = {https://doi.org/10.11648/j.jim.20150405.21},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.jim.20150405.21},
      abstract = {One of the major challenges in decision making is selection among MCDM (multi criteria decision making) methods. These methods do not provide same answer to decision maker. Therefore selecting the best answer is an important dilemma. To solve this problem, methods like Borda and Copeland compilation have been proposed. However, applying these methods leads to a hybrid solution which is not necessarily the best answer. In this paper a new approach is proposed to rank different MCDM methods. This approach is AUROC (area under receiver operating characteristic) which is a data mining tool for ranking classification models. The results would show great potential of applying AUROC for ranking MCDM methods in an immense selection problem with historical outcome},
     year = {2015}
    }
    

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    AB  - One of the major challenges in decision making is selection among MCDM (multi criteria decision making) methods. These methods do not provide same answer to decision maker. Therefore selecting the best answer is an important dilemma. To solve this problem, methods like Borda and Copeland compilation have been proposed. However, applying these methods leads to a hybrid solution which is not necessarily the best answer. In this paper a new approach is proposed to rank different MCDM methods. This approach is AUROC (area under receiver operating characteristic) which is a data mining tool for ranking classification models. The results would show great potential of applying AUROC for ranking MCDM methods in an immense selection problem with historical outcome
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