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A Sensitivity Analysis Approach for Some Deterministic Multi‐Criteria Decision‐Making Methods *
Author(s) -
Triantaphyllou Evangelos,
Sánchez Alfonso
Publication year - 1997
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1997.tb01306.x
Subject(s) - multiple criteria decision analysis , analytic hierarchy process , sensitivity (control systems) , computer science , weighted sum model , decision analysis , mathematical optimization , operations research , data mining , optimal decision , decision tree , mathematics , statistics , electronic engineering , engineering
Often, data in multi‐criteria decision making (MCDM) problems are imprecise and changeable. Therefore, an important step in many applications of MCDM is to perform a sensitivity analysis on the input data. This paper presents a methodology for performing a sensitivity analysis on the weights on the decision criteria and the performance values of the alternatives expressed in terms of the decision criteria. The proposed methodology is demonstrated on three widely used decision methods. These methods are the weighted sum model (WSM), the weighted product model (WPM), and the analytic hierarchy process (AHP). This paper formalizes a number of important issues on sensitivity analysis and derives some critical theoretical results. Also, a number of illustrative examples and computational experiments further illustrate the application of the proposed methodology.