Special Issue "Multi-Criteria Decisions"

A special issue of Axioms (ISSN 2075-1680).

Deadline for manuscript submissions: 30 November 2018

Special Issue Editor

Guest Editor
Prof. Dr. Faith-Michael E. Uzoka

Department of Mathematics and Computing, Mount Royal University, 4825 Mount Royal Gate SW, Calgary, Alberta T3E 6K6, Canada
Website | E-Mail
Interests: evaluation systems; multi-criteria decision analysis, organizational computing and impacts; medical Informatics; and technology adoption and innovation

Special Issue Information

Dear Colleagues,

We are glad to introduce this Special Issue of Axioms, which focuses on multi-criteria decisions. In the past, multi-criteria decision analysis (MCDA) was housed in the operations research silo; however, over the years, it has been realized that multi-criteria decisions permeate almost every sphere of human endeavour—business, computing, engineering, medicine, law, etc. Multi-criteria decision analyses have considerably expanded beyond the classical and formal methodologies, and have also involved intuitive and informal processes.  There is a need to have a multi-disciplinary platform for sharing and extending knowledge on multi-criteria decisions.

This Special Issue focuses on the science and art of multi-criteria decisions, especially in multi-disciplinary settings. We expect to publish high quality papers in the categories of discovery, integration, application, and teaching of multi-criteria decisions. The impact of such articles will be far reaching, especially in a fast-paced world that is constantly dealing with decisions involving analysis of (mostly conflicting) multiple variables. As noted by Miller (1956), the human mind can effectively manage a combination of 7 ± 2 pieces of information consecutively; beyond this level, the decision process experiences some apparent decay, which could impact on the outcome.

Prof. Dr. Faith-Michael E Uzoka
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Axioms is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 350 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • MCDA theories

  • MCDA methodologies

  • Applications of MCDA

  • Multi-criteria design issues

  • Intuitiveness in MCDA

  • Multi-goal decisions

  • Fuzziness in multi-criteria decisions

  • Tools for multi-criteria decisions

  • Soft-computing techniques for MCDA

  • Axioms of MCDA

  • Decision making paradox

  • Issues in teaching of MCDA

Published Papers (2 papers)

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Research

Open AccessArticle Incentive Compatible Decision Making: Real Options with Adverse Incentives
Axioms 2018, 7(1), 9; doi:10.3390/axioms7010009
Received: 9 January 2018 / Revised: 2 February 2018 / Accepted: 3 February 2018 / Published: 7 February 2018
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Abstract
In this paper, we examine the real options approach to capital budgeting decision making in the presence of managerial adverse incentives. We show that real options have the potential to be value enhancing or value destroying depending on the managerial incentives that may
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In this paper, we examine the real options approach to capital budgeting decision making in the presence of managerial adverse incentives. We show that real options have the potential to be value enhancing or value destroying depending on the managerial incentives that may result from having objectives different from firm value maximization. We further examine the possibility of using a generic residual income based rule of managerial compensation to induce the proper investment incentives and we seek to determine the cost-of-capital that must be employed in such a rule. Using numerical examples it is demonstrated that in general, a range of incentive compatible costs-of-capital exists across all managerial investment horizons but not across all managerial hurdle rates. Full article
(This article belongs to the Special Issue Multi-Criteria Decisions)
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Open AccessArticle A Fuzzy Trade-Off Ranking Method for Multi-Criteria Decision-Making
Axioms 2018, 7(1), 1; doi:10.3390/axioms7010001
Received: 9 November 2017 / Revised: 16 December 2017 / Accepted: 18 December 2017 / Published: 26 December 2017
PDF Full-text (514 KB) | HTML Full-text | XML Full-text | Supplementary Files
Abstract
The aim of this paper is to present a trade-off ranking method in a fuzzy multi-criteria decision-making environment. The triangular fuzzy numbers are used to represent the imprecise numerical quantities in the criteria values of each alternative and the weight of each criterion.
[...] Read more.
The aim of this paper is to present a trade-off ranking method in a fuzzy multi-criteria decision-making environment. The triangular fuzzy numbers are used to represent the imprecise numerical quantities in the criteria values of each alternative and the weight of each criterion. A fuzzy trade-off ranking method is developed to rank alternatives in the fuzzy multi-criteria decision-making problem with conflicting criteria. The trade-off ranking method tackles this type of multi-criteria problems by giving the least compromise solution as the best option. The proposed method for the fuzzy decision-making problems is compared against two other fuzzy decision-making approaches, fuzzy Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) and fuzzy VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR), used for ranking alternatives. Full article
(This article belongs to the Special Issue Multi-Criteria Decisions)
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