The role of multi-demensional decision models: a critical review and an application

Abstract

The paper reviews the applicability of approaches to multiple criteria decision making to aiding in
the selection of a preferred option from a list of alternatives, and compares these approaches in detail
from a theoretical standpoint. It is concluded that Analytic Hierarchy Process (ΑΗΡ) is the approach best
suited to this problem and the most widely used in practice. The paper goes on to present the Analytic
Hierarchy process, together with its application to a multidimensional problem such as the systematic
evaluation of alternative stock market choices.