TOPSIS vs. VIKOR

Abstract

Evaluating multiple criteria and selecting and/or ranking alternatives is called Multi Criteria Decision Making (MCDM). These methods which are considered important decision-making tools for decision makers due to their multidisciplinary nature have been developed over the years. As a result, there are many MCDM methods in the literature. In this chapter, TOPSIS and VIKOR, widely used in the literature, will be discussed. The major reason for examining these two methods is that the aggregating function used by both methods is similar because VIKOR method uses linear normalization and TOPSIS method uses vector normalization. The process of the methods is shown on a data set that includes the Human Development Index (HDI) indicators, which have been developed to measure the development levels of countries as well as the unemployment indicator. It was observed that the methods yielded similar results.