A new multi-criterion decision making (MCDM) method based on proximity indexed value for minimizing rank reversals

In the present research work, an effort has been made to critically examine the rank reversal phenomenon with an aim to propose a new method to obviate this problem. In order to establish the feasibility and effectiveness of the proposed method in preventing the rank reversal phenomenon, several case studies covering different technological specializations from the reported literature work have been considered. The results indicate that the rank reversal issue was found to be minimal with the use of proposed method and a good correlation was found to exist between the rankings obtained by the proposed method and the other commonly used MCDM methods. The proposed method is thus capable of preventing the rank reversal phenomenon, arising out of change in available alternatives.