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Multi‐criteria decision aid in financial decision making: methodologies and literature review
Author(s) -
Zopounidis Constantin,
Doumpos Michael
Publication year - 2002
Publication title -
journal of multi‐criteria decision analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.462
H-Index - 47
eISSN - 1099-1360
pISSN - 1057-9214
DOI - 10.1002/mcda.333
Subject(s) - multiple criteria decision analysis , business decision mapping , presentation (obstetrics) , decision analysis , management science , computer science , field (mathematics) , decision engineering , decision support system , finance , risk analysis (engineering) , business , operations research , economics , engineering , artificial intelligence , mathematics , medicine , mathematical economics , pure mathematics , radiology
Over the past decades the complexity of financial decisions has increased rapidly, thus highlighting the importance of developing and implementing sophisticated and efficient quantitative analysis techniques for supporting and aiding financial decision making. Multi‐criteria decision aid (MCDA), an advanced field of operations research, provides financial decision makers (DMs) and analysts a wide range of methodologies, which are well suited to the complexity of financial decision problems. The aim of this paper is to provide an in‐depth presentation of the contributions of MCDA in the field of finance, focusing on the methods used and their real‐world applications. Copyright © 2003 John Wiley & Sons, Ltd.