Informatica

This paper focuses on the aggregation or scoring methods to evaluate the alternatives in Multiple Attribute Decision Making problems (MADM), e.g. Weighted Sum Model (WSM) and Weighted Product Model (WPM). The paper deals with the incorporation of the two concepts into the scoring methods, which has not been studied yet. These concepts are decision maker’s Indifference Thresholds (IT) and Yearning Thresholds (YT) on the decision making criteria. Reviewing the related literature reveals that the existent scoring methods do not have a suitable structure to involve the IT, and there is no scoring method which addresses a way to take the YT into account. The paper shows that there is an important drawback to the famous Aspiration Level (AL) concept. Hence, the YT idea is given to resolve the AL limitation. Based on the IT and YT concepts, two new scoring methods are developed: Extended WPM (EWPM) and Extended WSM (EWSM). The EWPM and EWSM are compared with the other scoring methods using a set of simulation analysis. A real-world case extracted from Exploration and Production (E&P) companies in oil industry is examined.