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A statistical multi-criteria procedure with stochastic preferences

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  • P.L. Kunsch

Abstract

This article presents a simple and robust multi-criteria procedure providing the set of compromise rankings of alternatives, for one or many decision-makers, given some preference relationships between the criteria. The procedure is derived from the properties of the set of rank, or score vectors of the alternatives. The Pearson correlation serves as a measure of distance between two such vectors. The identification of all possible compromise rank vectors is made by a Monte Carlo analysis, using random weights. The probabilities of alternatives occupying the ranks are provided. The procedure is immune against rank reversals.

Suggested Citation

  • P.L. Kunsch, 2010. "A statistical multi-criteria procedure with stochastic preferences," International Journal of Multicriteria Decision Making, Inderscience Enterprises Ltd, vol. 1(1), pages 49-73.
    • Handle: RePEc:ids:ijmcdm:v:1:y:2010:i:1:p:49-73
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