Extending an outranking multiple criteria decision making method to differentiate gain and loss

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Hazel_SENTURK_MS_Thesis.pdf

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2021-9-10

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Şentürk, Hazel

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In this study, the integration of Prospect Theory into ranking and sorting methods based on the dominance relations is studied. The well-known multi-criteria ranking method PROMETHEE and the well-known multi-criteria sorting method FlowSort are extended by using the prospect theory perspective. The proposed methods are used to rank and sort the alternatives in the case where the impact of losses is greater than gains for the same amount. When the results are compared with the PROMETHEE and FlowSort methods, the results show how the rankings and classes of the alternatives change according to the value of loss and gain that are determined by the decision-maker.

Subject Keywords

Multi-criteria decision making, Prospect theory, PROMETHEE, FlowSort, Outranking relations

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https://hdl.handle.net/11511/93194

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Graduate School of Natural and Applied Sciences, Thesis

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Citation Formats

H. Şentürk, “Extending an outranking multiple criteria decision making method to differentiate gain and loss,” M.S. - Master of Science, Middle East Technical University, 2021.