Business: Theory and Practice 10(2): 84-92, doi: 10.3846/1648-0627.2009.10.84-92
PROMETHEE I Method Application for Identification of the Best Alternative
expand article infoValentinas Podvezko, Askoldas Podviezko
Open Access
Abstract

Decision making in human activity is often about an ability to make the best choice among a few possible alternatives. Such tasks could be selection of a technological or investment project, comparative analysis of commercial activity, financial strength or strategic potential of a number of enterprises, assessment of development level of different countries or country regions, etc. A considerable recent usage increase of multicriteria methods in quantitative analysis of social or economic phenomena is clearly observed. Such methods, but with deeper logic are using the so-called preference functions. PROMETHEE methods are such methods. Choice of the functions and their parameters is made by decision-makers. Chronologically, the first such a method is called PROMETHEE I. It furnished its core logic for all subsequent PROMETHEE methods. In such cases, when multi-criteria methods do not offer the best alternative, PROMETHEE I does it.

 

Keywords
PROMETHEE I method; multicriteria methods; best alternative; preference function