An Innovative Approach in Decision-Making Environments: Assessing Performance by Applying Multi-Attribute Value Theory (MAVT)

Abstract

This paper describes the main components of Multi-Attribute Value Theory (MAVT), a recommendation for assessing and evaluating the objects which can be accredited as an evaluation procedure to a decision maker when calculating the stakeholders’ interests. Some certain rules are recommended for the application of MAVT for decision-making to be in use for forthcoming actions. The MAVT determines to state the decision maker’s general evaluation of an option in terms of the value of its performance on each distinctive criteria. This study reveals the application of Swing Technique, Midpoints Analysis and Simple Additive Weighting Model (SAW) which is widely accepted approach in decision-making process of multiple criteria decision analysis (MCDA). How stakeholders’ preference and interests are changed after consideration and application of MAVT method and in which capacity results are consensus-oriented for decision-making procedure. This study defines the probable reasons to achieve the recommendations for further application of MAVT method in decision-making environments.

Keywords: Swing Methods, Midpoints Analysis, Simple Additive Weighting, Stakeholders Involvement, Evaluation Scheme, Multi-Attribute Value Theory (MAVT)