| Article ID: | iaor201111915 |
| Volume: | 218 |
| Issue: | 8 |
| Start Page Number: | 4295 |
| End Page Number: | 4304 |
| Publication Date: | Dec 2011 |
| Journal: | Applied Mathematics and Computation |
| Authors: | Tsaur Ruey-Chyn |
| Keywords: | risk, decision theory: multiple criteria |
TOPSIS is a multi‐attribute decision making (MADM) technique for ranking and selection of a number of externally determined alternatives through distance measures. When the collected data for each criterion is interval and the risk attitude for a decision maker is unknown, we present a new TOPSIS method for normalizing the collected data and ranking the alternatives. The results show that the decision maker with different risk attitude ranks the different alternatives.