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Ranking Alternatives by Pairwise Comparisons Matrix and Priority Vector

Ranking Alternatives by Pairwise Comparisons Matrix and Priority Vector AbstractThe decision making problem considered here is to rank n alternatives from the best to the worst, using information given by the decision maker(s) in the form of an n×n pairwise comparisons (PC) matrix. We investigate pairwise comparisons matrices with elements from a real interval which is a traditional multiplicative approach used in Analytic hierarchy process (AHP). Here, we deal with two essential elements of AHP: measuring consistency of PC matrix and the method of eliciting the priority vector by which the final ranking of alternatives is derived. Classical approaches introduced by T. Saaty in AHP are compared with later approaches based on the AHP criticism published in the literature. Advantages and disadvantages of both approaches are highlighted and discussed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Scientific Annals of Economics and Business de Gruyter

Ranking Alternatives by Pairwise Comparisons Matrix and Priority Vector

Scientific Annals of Economics and Business , Volume 64 (s1): 11 – Dec 1, 2017

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Publisher
de Gruyter
Copyright
© 2017 Jaroslav Ramík, published by De Gruyter Open
eISSN
2501-3165
DOI
10.1515/saeb-2017-0040
Publisher site
See Article on Publisher Site

Abstract

AbstractThe decision making problem considered here is to rank n alternatives from the best to the worst, using information given by the decision maker(s) in the form of an n×n pairwise comparisons (PC) matrix. We investigate pairwise comparisons matrices with elements from a real interval which is a traditional multiplicative approach used in Analytic hierarchy process (AHP). Here, we deal with two essential elements of AHP: measuring consistency of PC matrix and the method of eliciting the priority vector by which the final ranking of alternatives is derived. Classical approaches introduced by T. Saaty in AHP are compared with later approaches based on the AHP criticism published in the literature. Advantages and disadvantages of both approaches are highlighted and discussed.

Journal

Scientific Annals of Economics and Businessde Gruyter

Published: Dec 1, 2017

References