ICSES Transactions on Neural and Fuzzy Computing
Vol. 2, No. 2, Jun. 2019
Grey Multiple Criteria Decision Making Methods: A Literature Review
a Southeast University, Nanjing, China
b College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, China, Nanjing, China
Highlights and Novelties
1- Grey System Theory is one of the essential approaches to consider uncertainty in multiple criteria decision making problems.
2- Grey relational analysis is the most well-known method among grey multiple criteria decision making methods.
3- Grey pairwise comparisons based and distance-based methods are more likely to experience an increasing trend for years ahead as compared to grey outranking methods.
Nowadays decision making has a wide application in management, business, and engineering majors, thus several multiple criteria/attributes decision making (MCDM) methods have been directed by researchers to sort optimal decisions. These methods can be categorized into: outranking based, distance based, and pairwise comparisons based methods. On the other hand, due to the fact that there is uncertainty in the input data in a real-world situation, the approaches capable of handling uncertainties are encouraged to be employed to overcome the hesitancy in MCDM methods. Grey System Theory is one of the essential approaches to consider uncertainty because it is known to show a noteworthy performance when the input data is incomplete or partially known. Hence, the present study is a humble effort directed at executing a short review on grey MCDM methods based on the data from 2000 and 2018, a period of 19 years. Moreover, we have presented an analysis in this area based on the number of studies, available through the Google Scholar and Science Direct databases. Finally, the study identifies the most popular and least popular methods and thus guides future scholars in their choice of selecting models.
Grey system theory Multiple criteria decision making Uncertainty
Copyright and Licence
© Copyright was transferred to International Computer Science and Engineering Society (ICSES) by all the Authors. This manuscript is published in Open-Access manner based on the copyright licence of Creative Commons Attribution Non Commercial 4.0 International (CC BY-NC 4.0).
Cite this manuscript as
Amin Mahmoudi, Saad Ahmed Javed, "Grey Multiple Criteria Decision Making Methods: A Literature Review," ICSES Transactions on Neural and Fuzzy Computing, vol. 2, no. 2, pp. 1-13, Jun. 2019.
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