KMA/MMR Mathematical Methods of Decision Making

Lecturer: Jana Talašová
Lecture: 2 hours/week e exercise 1 hour/week
Credits: 3
Summer semester
Form of course completion: colloquium

• Basic types of decision making situations and corresponding mathematical models.
• Multiple criteria decision making on a finite set of alternatives - mathematical formulation of the problem, examples in economic practice.
• Rules for creating sets of criteria, classification of decision criteria, types of evaluating scales.
• Methods of setting criteria weights.
• Formal analysis of criteria sets, independency of criteria. Methods for creating decision alternatives.
• Multiple criteria decision making without information about criteria preferences:  MINIMAX, MAXIMAX, Hurwitz's rule, OWA. Decision making with ordinal information concerning importance of criteria: Lexicographical Ordering Method and its modifications.
• Methods based on the weighted average of partial evaluations (with accent to Partial Goals Method and AHP).
• Multiple Criteria Utility Method.
• Methods minimizing the distance to the ideal alternative. Compensation Method.
• Decision making methods with cardinal information about criteria preferences that are appropriate for ordinal criteria (Electre III Method etc.).