Comparison of multi-criteria decision methods through a ranking stability index

Various multi‐criteria decision‐making (MCDM) procedures have been developed over the last few decades to help decision‐making in complex and seemingly intractable decision tasks. A major criticism of various MCDM methods is that they may yield different results when applied to the same problem. A comparative study is proposed here to identify similarities and divergences between the most used MCDM methods. Compared approaches include: ELECTRE III, PROMETHEE I and II, TOPSIS, AHP and PEG. Two multi‐criteria case studies are presented. Studied methods are employed to establish an arrangement of a number of alternatives based on two and eight conflicting criteria, respectively. A Gini index is used to quantify rankings dispersion of Pareto optima obtained through studied MCDM methods. Results highlight the sensitivity of the Pareto‐compromise design and ranking to the applied MCDM method.