The book "Recent Advances in the Theory and Application of the Best-Worst Method" presents recent developments in the Best-Worst Method (BWM), covering its theory, application, and diverse settings, with insights for decision-making in health, energy, supply chain management, and engineering.

Format: Hardback
Length: 177 pages
Publication date: 01 February 2023
Publisher: Springer International Publishing AG

This comprehensive book delves into the latest developments and practical applications of the Best-Worst Method (BWM). It encompasses a selection of papers presented at the Third International Workshop on Best-Worst Method (BWM2022), which took place in Delft, the Netherlands, from June 9 to 10, 2022. The book offers invaluable insights into the rationale and methodologies of employing BWM across a wide spectrum of fields, including health, energy, supply chain management, and engineering. Furthermore, it sheds light on the diverse contexts in which BWM can be effectively utilized, such as individual versus group decision-making scenarios, as well as when dealing with complete versus incomplete and uncertain information. Researchers and practitioners engaged in multi-criteria decision-making and decision analysis will find this collection of papers particularly valuable.

Introduction

The Best-Worst Method (BWM) has gained significant attention in recent years as a powerful tool for multi-criteria decision-making (MCDM). It involves ranking alternatives based on their relative performance across multiple criteria and then selecting the best option based on a subjective assessment of the trade-offs between the criteria. BWM has been successfully applied in various domains, such as healthcare, energy, supply chain management, and engineering, to address complex decision-making problems that involve multiple objectives and constraints.

Recent Advances in BWM Theory and Application

This book aims to showcase the latest advances in BWM theory and application. It includes contributions from leading researchers and practitioners in the field, providing a comprehensive overview of the state-of-the-art research and practical insights. The papers presented in this book cover a wide range of topics, including:

Why and How to Use BWM

The book explores the rationale behind using BWM and provides guidance on how to effectively apply it in different decision-making scenarios. It discusses the advantages and limitations of BWM and highlights the factors that should be considered when selecting and implementing it.

Applications of BWM

The book showcases BWM applications in various fields, including health, energy, supply chain management, and engineering. It provides examples of real-world problems that have been solved using BWM and discusses the key challenges and solutions involved in each application.

Settings of BWM

The book examines the use of BWM in different settings, such as individual decision-making versus group decision-making, and with complete information versus incomplete and uncertain information. It discusses the implications of these settings on the decision-making process and provides strategies for addressing them.

Conclusion

In conclusion, this book presents a comprehensive and up-to-date overview of the theory and application of the Best-Worst Method. It offers valuable insights into why and how to use BWM in a diverse range of applications, highlights the use of BWM in different settings, and provides practical examples of its applications. Academics and practitioners whose work involves multi-criteria decision-making and decision analysis will particularly benefit from the papers gathered here.

Weight: 453g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031248153
Edition number: 1st ed. 2023