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Two-stage weighted PROMETHEE II with results’ visualization

Author

Listed:
  • Martina Kuncova

    (Prague University of Economics and Business)

  • Jana Seknickova

    (Prague University of Economics and Business)

Abstract

Multicriteria decision-making methods are widely spread and used to assist the decision-makers to resolve problems. Many of the methods are simple to deploy (WSA, TOPSIS), which is an advantage and because of the computer boom, there is no problem with calculations. However, more sophisticated methods are evolving. The modelling of preferences is improved (from linear in WSA to Gaussian in PROMETHEE), multilevel decision-making (such as AHP) is extended to modelling of dependencies between individual criteria (ANP). The presented method, two-stage weighted PROMETHEE, combines the advantages of generalized preferential functions in PROMETHEE methods, unambiguous arrangement (PROMETHEE II) and hierarchical approach (AHP). In addition, this paper demonstrates the application of the method to evaluate the order of 14 regions of the Czech Republic in regard to economic indices such as the unemployment rate, economic activity, average age, wages, free working places, income, consumption and investments. Data are taken from the Czech Statistical Office web and include the years 2012–2019. In the first stage, the position of each region is calculated; in the second stage, all years mentioned are considered, including the aspect of the weighted time series. Result visualization is made possible using the Visual PROMETHEE software.

Suggested Citation

  • Martina Kuncova & Jana Seknickova, 2022. "Two-stage weighted PROMETHEE II with results’ visualization," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 30(2), pages 547-571, June.
    • Handle: RePEc:spr:cejnor:v:30:y:2022:i:2:d:10.1007_s10100-021-00788-9
    DOI: 10.1007/s10100-021-00788-9
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    References listed on IDEAS

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