A framework for dynamic multiple-criteria decision making

The classic multiple-criteria decision making (MCDM) model assumes that, when taking a decision, the decision maker has defined a fixed set of criteria and is presented with a clear picture of all available alternatives. The task then reduces to computing the score of each alternative, thus producing a ranking, and choosing the one that maximizes this value.However, most real-world decisions take place in a dynamic environment, where the final decision is only taken at the end of some exploratory process. Exploration of the problem is often beneficial, in that it may unveil previously unconsidered alternatives or criteria, as well as render some of them unnecessary.In this paper we introduce a flexible framework for dynamic MCDM, based on the classic model, that can be applied to any dynamic decision process and which is illustrated by means of a small helicopter landing example. In addition, we outline a number of possible applications in very diverse fields, to highlight its versatility.

Research highlights
► Most real-world decision problems are highly dynamic and time-dependent
► Most multiple-criteria decision making (MCDM) models are unable to capture this dynamism
► Very few tools exist for dynamic MCDM, mostly outside of the decision making field
► We propose a versatile framework for dynamic MCDM based on the classic model
► We present a series of possible applications to highlight its versatility