Multi-criteria Decision Making for Smart Grid Design and Operation
A Society 5.0 Perspective
Series Editors:
Lazar Z. Velimirovi´c · Aleksandar Janji´c ·
Jelena D. Velimirovi
Introduction
The majority of issues we face on a daily basis include numerous factors or criteria. People are thus compelled to find solutions to these problems. Multi-Criteria Decision-making (MCDM) problems exist and are heavily used in many fields, including economics, social sciences, and medical sciences, among others. Therefore, MCDMs are used to solve these challenges. Multiple-Criteria Decision Analysis (MCDA) or Multi-Attribute Decision-Making (MADM) difficulties are terms that are occasionally used to refer to MCDM problems [1].
Authors in [2] propose a new model called Linguistic Fuzzy Decision Networks (LFDNs). Their research shows that LFDN offers substantial flexibility to decisionmakers in resolving real-world Multi-Criteria Decision-Making (MCDM) problems. The performance of the suggested LFDN model is compared with the original Fuzzy Decision Maps (FDMs) which they utilized in a previously published case study. The outcome of the comparison assures that the same conclusions may be made in a more realistic decision-making environment.
Despite its differences, the MCDM shares multiple objectives and multiple criteria, most of which are in opposition to one another. The decision-makers must choose, evaluate, or rank these alternatives based on the relative importance of the criteria. Authors in [3] provide a review of decision-making techniques in the field of economics. Authors of various MCDM methodologies, groundbreaking studies, and works are briefly introduced in this paper.
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