Document type
ArticleVersion
Published versionPublication date
Publication license
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/111233
Decision making techniques in business and economics based on the OWA operator
Journal Title
Director/Tutor
Journal ISSN
Volume Title
Related resource
Abstract
We analyse the use of the ordered weighted average (OWA) in decision-making giving special attention to business and economic decision-making problems. We present several aggregation techniques that are very useful for decision-making such as the Hamming distance, the adequacy coefficient and the index of maximum and minimum level. We suggest a new approach by using immediate weights, that is, by using the weighted average and the OWA operator in the same formulation. We further generalize them by using generalized and quasi-arithmetic means. We also analyse the applicability of the OWA operator in business and economics and we see that we can use it instead of the weighted average. We end the paper with an application in a business multi-person decision-making problem regarding production management.
Subject (English)
Citation
Collections
Citation
MERIGÓ LINDAHL, José M. and GIL LAFUENTE, Anna Maria. Decision making techniques in business and economics based on the OWA operator. Sort (Statistics and Operations Research Transactions). 2012. Vol. 36, num. 1, pags. 81-102. ISSN 1696-2281. [consulted: 6 of June of 2026]. Available at: https://hdl.handle.net/2445/111233