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author:

Li, Kevin W. (Li, Kevin W..) [1] | Wang, Zhou-Jing (Wang, Zhou-Jing.) [2] | Tong, Xiayu (Tong, Xiayu.) [3]

Indexed by:

EI

Abstract:

Existing research on acceptability of pairwise interval comparison matrices focuses on acceptable consistency by controlling their inconsistency levels to within a certain threshold. However, a perfectly consistent but highly indeterminate interval comparison matrix can be unacceptable as it contains little (sometimes no) useful decision information. This paper first analyzes the current definition of acceptable consistency for interval multiplicative comparison matrices (IMCMs) and shows its technical deficiencies. We then introduce a new notion of acceptable IMCMs, considering both inconsistency and indeterminacy levels in IMCMs. A geometric-mean-based index is proposed to measure the indeterminacy ratio of an IMCM, and useful properties are derived for consistent IMCMs and acceptable IMCMs. An indeterminacy-ratio and geometric-mean-based transformation equation is subsequently put forward to convert normalized acceptable interval multiplicative weights into an acceptable IMCM with consistency. By introducing an auxiliary constraint, a logarithmic least square model is established to generate interval multiplicative weights from acceptable IMCMs. A geometric-mean-based possibility degree formula is designed to compare and rank normalized interval multiplicative weights. Two numerical examples are presented to illustrate how to utilize the proposed framework.

Keyword:

Decision theory Geometry Least squares approximations Mathematical transformations

Community:

  • [ 1 ] [Li, Kevin W.]College of Economics and Management, Fuzhou University, Fuzhou, Fujian; 350116, China
  • [ 2 ] [Li, Kevin W.]Odette School of Business, University of Windsor, Windsor; ON; N9B 3P4, Canada
  • [ 3 ] [Wang, Zhou-Jing]School of Information, Zhejiang University of Finance and Economics, Hangzhou, Zhejiang; 310018, China
  • [ 4 ] [Tong, Xiayu]School of Management, Zhejiang University of Finance and Economics, Hangzhou, Zhejiang; 310018, China

Reprint 's Address:

  • [wang, zhou-jing]school of information, zhejiang university of finance and economics, hangzhou, zhejiang; 310018, china

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Source :

European Journal of Operational Research

ISSN: 0377-2217

Year: 2016

Issue: 2

Volume: 250

Page: 628-638

3 . 2 9 7

JCR@2016

6 . 0 0 0

JCR@2023

ESI HC Threshold:177

JCR Journal Grade:1

CAS Journal Grade:2

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count: 59

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 0

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