An overview of MULTIMOORA for multi-criteria decision-making: Theory, developments, applications, and challenges

Abstract

MULTIMOORA is a useful multi-criteria decision-making technique. The output of the MULTIMOORA is a ranking obtained by aggregating the results of the ternary ranking methods: Ratio System, Reference Point Approach, and Full Multiplicative Form. In the literature of MULTIMOORA, there is not a comprehensive review study. In this paper, we conduct an overview of MULTIMOORA by categorizing and analyzing main researches, theoretically and practically. First, we go through an theoretical survey of MULTIMOORA in terms of the subordinate ranking methods, ranking aggregation tools, weighting methods, group decision-making, combination with other models, and the robustness of the method. We scrutinize the developments of MULTIMOORA based on uncertainty theories accompanied by analyzing the mathematical formulations of breakthrough models. Practical problems of MULTIMOORA are categorized into application sectors concerning industries, economics, civil services and environmental policy-making, healthcare management, and information and communications technologies. Bibliometric analyses are implemented into all studies. Also, we pose major theoretical and practical challenges. From the theoretical viewpoint, extensions of Reference Point Approach, cooperative group decision-making structure, and utilization of new uncertainty sets in MULTIMOORA model are the main challenges. From the practical viewpoint, industrial and socio-economic fields are appealing to be studied intensively.