Linear Programming for Multi-Criteria Assessment with Cardinal and Ordinal Data: a Pessimistic Virtual Gap Analysis
The study, published on arXiv, presents a new approach for multi-criteria analysis (MCA) that combines the strengths of cardinal and ordinal data. Traditional MCDM methods often struggle with ordinal data, which can lead to biased results. The new method uses linear programming to estimate parameters for criteria, enabling a more accurate evaluation of alternatives. This approach is particularly useful in situations where data is scarce or uncertain.
Key Takeaways
- → New method combines cardinal and ordinal data for multi-criteria analysis
- → Linear programming used to estimate parameters for criteria
- → Approach provides more accurate and robust evaluation of alternatives
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