A Novel Method for Assessing the Weight Coefficients of Criteria within the Framework of Multi-Criteria Decision-Making: Measurement Relying on the Impacts of an Exponential Curve Function (MIEXCF)

Year 2024, Volume: 11 Issue: 1, 173 - 202, 28.03.2024

Furkan Fahri Altıntaş

https://doi.org/10.54287/gujsa.1419551

Abstract

In the realm of multi-criteria decision making (MCDM), this study introduces the Measurement Relying on the Impacts of an Exponential Curve Function (MIEXCF) as a novel approach for objectively determining criteria weight coefficients. Utilizing exponential curve interactions among criteria, MIEXCF is designed to enrich the MCDM literature. The dataset comprises criterion values extracted from Global Innovation Index (GII) evaluations for 19 G20 members. Results demonstrate the efficacy of MIEXCF in objectively deriving criteria weights for diverse nations. Comparative analyses with other methods (ENTROPY, CRITIC, SD, SVP, LOPCOW, MEREC) further validate MIEXCF's credibility, reliability, and stability. Notably, the simulation analysis indicates MIEXCF's effectiveness in discerning criteria weights and stability across scenarios. In conclusion, MIEXCF stands out as a robust objective criterion weighting technique, offering substantial contributions to exponential functions and the broader MCDM literature.

Keywords

MCDM, Exponential Function, Exponential Curve Function, MIEXCF

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