Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS

@article{Opricovic2004CompromiseSB,
  title={Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS},
  author={Serafim Opricovic and Gwo-Hshiung Tzeng},
  journal={European Journal of Operational Research},
  year={2004},
  volume={156},
  pages={445-455}
}
The multiple criteria decision making (MCDM) methods VIKOR and TOPSIS are based on an aggregating function representing “closeness to the idealâ€​, which originated in the compromise programming method. In VIKOR linear normalization and in TOPSIS vector normalization is used to eliminate the units of criterion functions. The VIKOR method of compromise ranking determines a compromise solution, providing a maximum “group utilityâ€​ for the “majorityâ€​ and a minimum of an individual regret… CONTINUE READING
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