A DSS for Designing an MCDA Study with Application in Performance Evaluation of Forecasting Models

Jamal Ouenniche, Bing Xu, Blanca Pérez-Gladish

Research output: Chapter in Book/Report/Conference proceedingChapter (peer-reviewed)

Abstract

The purpose of this Chapter is to propose a decision support system (DSS) for designing a multicriteria decision analysis (MCDA) study. The proposed DSS is a revised MCDA methodological framework, which consists of a sequential decision making process with feedback adjustment mechanisms and validation sub-processes. We also provide guidelines on how to operationalize it. For illustration purposes, we adapt the proposed DSS to address the problem of performance evaluation of competing forecasting models under multiple criteria, where the variable to forecast is the price of crude oil.
Original languageEnglish
Title of host publicationFinancial Decision Aid Using Multiple Criteria
Subtitle of host publicationRecent Models and Applications
EditorsHatem Masri, Blanca Pérez-Gladish, Constantin Zopounidis
PublisherSpringer
Pages19-48
ISBN (Electronic)978-3-319-68876-3
ISBN (Print)978-3-319-68875-6
DOIs
Publication statusPublished - 2018

Publication series

NameMultiple Criteria Decision Making
PublisherSpringer International Publishing
ISSN (Print)2366-0023

Keywords

  • decision support system
  • Multicriteria decision analysis
  • performance evaluation of forecasting models

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  • Cite this

    Ouenniche, J., Xu, B., & Pérez-Gladish, B. (2018). A DSS for Designing an MCDA Study with Application in Performance Evaluation of Forecasting Models. In H. Masri, B. Pérez-Gladish, & C. Zopounidis (Eds.), Financial Decision Aid Using Multiple Criteria: Recent Models and Applications (pp. 19-48). (Multiple Criteria Decision Making). Springer. https://doi.org/10.1007/978-3-319-68876-3_2