Decision-Making Support

  • Credits: 5
  • Ending: Examination
  • Range: 2P + 2C
  • Semester: winter
  • Year: 3
  • Faculty of Economic Informatics

Teachers

Included in study programs

Economic Informatics

Teaching results

Upon successful completion of the course, students will acquire the following knowledge:
- knowledge of decision-making tools suitable for the analysis of economic phenomena and processes,
- knowledge of decision-making tools for modeling economic phenomena and processes,
- knowledge of decision - making tools for evaluating and setting strategies for economic processes.
Upon successful completion of the course, students will acquire the following skills:
- ability to use models and methods of multiple attribute decision making methods,
- to control of adequate software to solve multiple attribute decision making problems.
Upon successful completion of the course, students will acquire the following competencies:
- practical skills and competencies associated with the application of multiple attribute decision making models and methods in the analysis of economic problems in the field of economic practice using adequate software.

Indicative content

The course is focused on the support of decision-making processes, while the content of the course contains the areas of defining concepts and getting acquainted with the methodological apparatus of multicriteria evaluation of alternatives. The aim of the course is to build the student's ability to evaluate and solve typical conflict decision-making situations, which are characterized by the existence of several, often incomparable and conflicting intentions. Emphasis is also placed on the software applications of selected methods.

Support literature

1. Hwang, Ching-Lai, Yoon, Kwangsun. Multiple Attribute Decision Making Methods and Applications. A State-of-the-Art Survey. Springer-Verlag Berlin Heidelberg, 2011.
2. PEKÁR, Juraj - FURKOVÁ, Andrea. Prípadové štúdie z viackriteriálneho rozhodovania. Bratislava : Vydavateľstvo EKONÓM, 2014.
3. Zavadskas, Edmundas - Antucheviciene, Jurgita - Chatterjee, Prasenjit. Multiple-Criteria Decision-Making (MCDM) Techniques for Business Processes Information Management. Mdpi AG, 2019.

Syllabus

1. Basic concepts of multicriteria decision making process. Alternatives and criteria. The principle of optimality, the principle of acceptability and the principle of efficiency. Taxonomy of problems and methods of multicriteria decision making process. The role of multicriteria optimization. The role of multicriteria evaluation of alternatives. 2. The basis of models and methods of multicriteria evaluation of alternatives. 3. Modeling of preferences between criteria based on aspiration levels - Conjunctive method, Disjunctive method. 4. Modeling of preferences between criteria based on ordinal information - Lexicographic method, Permutation method. 5. Modeling of preferences between criteria based on ordinal information - ORESTE method. 6. Modeling of preferences between criteria - weighting methods for multi-criteria decision making - Ranking method, Fuller's method. 7. Modeling of preferences between criteria - weighting methods for multi-criteria decision making - Point Allocation Method, Saaty's method. 8. Modeling of preferences between alternatives - the principle of utility maximizing - Weighted sum method, the principle of minimizing the distance from the ideal alternative - TOPSIS method. 9. Modeling preferences between alternatives - methods of pairwise comparison. 10. Modeling of preferences between alternatives - methods of pairwise comparison - PROMETHEE methods (PROMETHEE I, II). 11. Modeling preferences between alternatives - methods of pairwise comparison - PROMETHEE class methods (PROMETHEE III, IV, V). 12. Modeling of preferences between alternatives - methods of pairwise comparison - ELECTRE methods. 13. Case studies and applications in the field of multicriteria evaluation of alternatives.

Requirements to complete the course

30 % work at seminars and writing of projects
70 % combined final exam

Student workload

5 credits x 26 hours = 130 hours
26 hours lecture attendance
26 hours seminar attendance
26 hours preparation for lectures
26 hours preparation for seminars
13 hours writing a seminar paper
13 hours preparation for final exam

Language whose command is required to complete the course

Slovak, English

Date of approval: 10.02.2023

Date of the latest change: 06.12.2022