A Novel Approach To Measuring Criterion Weights In Multiple Criteria Decision Making: Cubic Effect-Based Measurement (CEBM)

Authors : Furkan Fahri Altintaş

Pages : 151-195

Doi:10.51541/nicel.1349382

View : 108 | Download : 96

Publication Date : 2023-12-31

Article Type : Research

Abstract :In the realm of multi-criteria decision making (MCDM) literature, various approaches exist for quantifying the weight coefficients of criteria. In this study, unlike other methods of calculating weight coefficients, a mathematical model based on cubic interactions among criteria has been proposed (CEBM-Cubic Effect-Based Measurement). This model aims to enrich the MCDM literature while providing a means to compute weight coefficients of criteria. The dataset employed in this investigation comprises criterion values extracted from the Global Innovation Index (GII) evaluations for 19 G20 countries. Through the analysis outcomes, the efficacy of the proposed methodology in objectively deriving criteria weight coefficients for different nations is demonstrated. Furthermore, a comparative analysis is conducted, juxtaposing the proposed method with other objective weighting techniques (ENTROPY, CRITIC, SD, SVP, LOPCOW, and MEREC) as part of a sensitivity, comparison, and simulation analyses. The CEBM method is a credible, reliable and stability objective criterion weighting method, as demonstrated by its sensitivity, comparison, and simulation analyses. The simulation analysis, in particular, showed that the CEBM method is effective in distinguishing the weights of the criteria and is stable across different scenarios. In conclusion, based on all of these evaluations, it is thought that the CEBM method can be used as an objective criterion weighting method and the proposed methodology will make substantial contributions to both the domain of cubic functions and the broader MCDM literature.
Keywords : CEBM, kübik fonksiyon, kübik etki değeri