A Comprehensive Overview of the ELECTRE Method in Multi-Criteria Decision-Making

The ELECTRE(ELimination Et Choix Traduisant la REalite)method has gained widespread recognition as one of the most effective multi-criteria decision-making(MCDM)methods.Its versatility allows it to be applied in a wide range of areas such as engineering,economics,business,environmental management and many others.This paper aims to provide an overview of the ELECTRE method,including its fundamental concepts,applications,advantages,and limitations.At its core,the ELECTRE method is an outranking family of MCDM techniques,which allows for the direct comparison of alternatives based on a set of criteria.The method takes into account the preferences and importance of decision-makers and generates a ranking of the alternatives based on their relative strengths and weaknesses.The ELECTRE method is a powerful tool for decision-making,and its applicability to a wide range of fields demonstrates its versatility and adaptability.By understanding its concepts,applications,merits,and demerits,decision-makers can use the ELECTRE method to make informed and effective decisions in a variety of contexts.

Understanding Applications and Best Practices of DEMATEL:A Method for Prioritizing Key Factors in Multi-Criteria Decision-Making

Decision Making Trial and Evaluation Laboratory(DEMATEL)method is a powerful tool for understanding and visualizing the causal relationships among factors in complex decision-making problems.The method uses diagrams and matrixes to map out the causal relationships and interdependencies among factors,allowing decision-makers to identify key drivers and potential solutions to the problem.DEMATEL has a wide range of application areas,including supply chain management,environmental planning,healthcare,finance,and engineering,among others.The DEMATEL method is a valuable tool for decision-makers who need to understand the complex causal relationships among factors in order to make informed decisions.The method provides a structured approach for analyzing and prioritizing factors and for identifying potential solutions to complex problems.This paper describes the main features of this method,its application areas as well as the main process steps in the DEMATEL method.

VIKOR Method-An Effective Compromising Ranking Technique for Decision Making

The VIKOR(VlseKriterijumska Optimizacija I Kompromisno Resenje)method,which is a multi-criteria decision-making method,is examined in this paper.The VIKOR method,like other MCDM techniques such as the Technique for Order of Preference by Similarity to Ideal Solution(TOPSIS),is widely used to solve complex decision-making problems in various fields such as engineering,management,and finance.This paper provides an overview of the VIKOR method,including its application areas,advantages,and disadvantages.Besides,in this survey paper,the process steps of the VIKOR method are described,including determining the decision matrix,normalizing the matrix,determining the weights of the criteria,calculating the utility and regret values,calculating the VIKOR index,and finally ranking the alternatives.By providing an overview of the VIKOR method and its process steps,this paper aims to provide a better understanding of the method and its potential application in different decision-making contexts.

Cost-effectiveness Assessment of Commonly-used Drugs for Hepatoprotection and Enzymes Reduction Based on Decision Tree and Multi-utility Theory

Objective Drugs for hepatoprotection and enzymes reduction are widely used in China but their economic analysis has been ignored in a rather long period of time. A suitable protocol for hepatoprotection and enzymes reduction was recommended in Longhua Hospital. Methods This study was conducted as a retrospective piece. Three therapeutic protocols （compound glycyrrhizic glycoside combined with aspartic ornithine injection, compound glycyrrhizic glycoside combined with phospha- tidylcholine, and compound glycyrrhizic glycoside combined with tiopronin） were selected. Seventy inpatient cases from January 2011 to February 2012 were enrolled and divided into three groups according to different regimens. The cost effectiveness of the three groups was respectively evaluated by incremental cost-effectiveness ratios （iCERs）. A decision tree model and multi attribution utility theory were also adopted to analyze the data. Results All the three regimens exhibited good effects on protecting liver functions and reducing the levels of enzymes. Among them, the protocol of compound glycyrrhizic glycoside combined with tioproni expressed the least ICER, the lowest cost but the highest score in the multi-utility. Conclusion The therapeutic method of compound glycyrrhizic glycoside combined with tiopronin is the most cost-effective option in this study.