Extended VIKOR method in comparison with outranking methods. The VIKOR method was developed to solve MCDM problems with conflicting and noncommensurable (different units) criteria, assuming that compromising is acceptable for conflict resolution, the decision maker wants a solution that is the closest to the ideal, and the alternatives are evaluated according to all established criteria. This method focuses on ranking and selecting from a set of alternatives in the presence of conflicting criteria, and on proposing compromise solution (one or more). The VIKOR method is extended with a stability analysis determining the weight stability intervals and with trade-offs analysis. The extended VIKOR method is compared with three multicriteria decision making methods: TOPSIS, PROMETHEE, and ELECTRE. A numerical example illustrates an application of the VIKOR method, and the results by all four considered methods are compared.

References in zbMATH (referenced in 43 articles , 1 standard article )

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  1. Antunes, Jorge; Gupta, Rangan; Mukherjee, Zinnia; Wanke, Peter: Information entropy, continuous improvement, and US energy performance: a novel stochastic-entropic analysis for ideal solutions (SEA-IS) (2022)
  2. Soltanifar, Mehdi; Sharafi, Hamid: A modified DEA cross efficiency method with negative data and its application in supplier selection (2022)
  3. Heidary Dahooie, Jalil; Razavi Hajiagha, Seyed Hossein; Farazmehr, Shima; Zavadskas, Edmundas Kazimieras; Antucheviciene, Jurgita: A novel dynamic credit risk evaluation method using data envelopment analysis with common weights and combination of multi-attribute decision-making methods (2021)
  4. Ouenniche, Jamal; Bouslah, Kais; Perez-Gladish, Blanca; Xu, Bing: A new VIKOR-based in-sample-out-of-sample classifier with application in bankruptcy prediction (2021)
  5. Wang, Jiajia; Ma, Xueling; Xu, Zeshui; Zhan, Jianming: Three-way multi-attribute decision making under hesitant fuzzy environments (2021)
  6. Joshi, Rajesh: A new picture fuzzy information measure based on Tsallis-Havrda-Charvat concept with applications in presaging poll outcome (2020)
  7. Zhang, Kai; Zhan, Jianming; Wu, Wei-Zhi: Novel fuzzy rough set models and corresponding applications to multi-criteria decision-making (2020)
  8. Zhou, Shenghai; Ji, Xun; Xu, Xuanhua: A hierarchical selection algorithm for multiple attributes decision making with large-scale alternatives (2020)
  9. Bai, Chunguang; Sarkis, Joseph: Integrating and extending data and decision tools for sustainable third-party reverse logistics provider selection (2019)
  10. Dinçer, Hasan; Yüksel, Serhat: An integrated stochastic fuzzy MCDM approach to the balanced scorecard-based service evaluation (2019)
  11. Ding, Xue-Feng; Liu, Hu-Chen: An extended prospect theory -- VIKOR approach for emergency decision making with 2-dimension uncertain linguistic information (2019)
  12. Krishankumar, R.; Ravichandran, K. S.; Kar, Samarjit; Gupta, Pankaj; Mehlawat, Mukesh Kumar: Interval-valued probabilistic hesitant fuzzy set for multi-criteria group decision-making (2019)
  13. Ploskas, Nikolaos; Papathanasiou, Jason: A decision support system for multiple criteria alternative ranking using TOPSIS and VIKOR in fuzzy and nonfuzzy environments (2019)
  14. Bento, G. C.; Cruz Neto, J. X.; López, G.; Soubeyran, Antoine; Souza, J. C. O.: The proximal point method for locally Lipschitz functions in multiobjective optimization with application to the compromise problem (2018)
  15. Tavana, Madjid; Di Caprio, Debora; Santos-Arteaga, Francisco J.: An extended stochastic VIKOR model with decision maker’s attitude towards risk (2018)
  16. Bai, Chunguang; Fahimnia, Behnam; Sarkis, Joseph: Sustainable transport fleet appraisal using a hybrid multi-objective decision making approach (2017)
  17. Ren, Zhiliang; Xu, Zeshui; Wang, Hai: Dual hesitant fuzzy VIKOR method for multi-criteria group decision making based on fuzzy measure and new comparison method (2017)
  18. Zhang, Wenkai; Ju, Yanbing; Liu, Xiaoyue: Interval-valued intuitionistic fuzzy programming technique for multicriteria group decision making based on Shapley values and incomplete preference information (2017)
  19. Govindan, Kannan; Jepsen, Martin Brandt: ELECTRE: A comprehensive literature review on methodologies and applications (2016)
  20. Xue, Min; Tang, Xiaoan; Feng, Nanping: An extended VIKOR method for multiple attribute decision analysis with bidimensional dual hesitant fuzzy information (2016)

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