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Chapter 35 Appendix A: Multi-Criteria Decision Analysis

By Linkov I and Steevens J

Abstract

A detailed analysis of the theoretical foundations of different MCDA methods and their comparative strengths and weaknesses is presented in Belton and Stewart (2002). MCDA methods utilize a decision matrix to provide a systematic analytical approach for integrating risk levels, uncertainty, and valuation, which enables evaluation and ranking of many alternatives. MCDA overcomes the limitations of less structured methods such as comparative risk assessment (CRA), which suffers from the unclear way in which it combines performance on criteria (see Bridges et al. 2005 for more information on CRA). Within MCDA, almost all methodologies share similar steps of organization and decision matrix construction, but each methodology synthesizes information differently (Yoe 2002). Different methods require diverse types of value information and follow various optimization algorithms. Some techniques rank options, some identify a single optimal alternative, some provide an incomeplete ranking, and others differentiate between acceptable and unacceptabl

Year: 2013
OAI identifier: oai:CiteSeerX.psu:10.1.1.363.8044
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