α-Discounting Method for Multi-Criteria Decision Making (α-D MCDM)

In this paper we introduce a new procedure called α-Discounting Method for Multi-Criteria Decision Making (α-D MCDM), which is as an alternative and extension of Saaty's Analytical Hierarchy Process (AHP). It works for any set of preferences that can be transformed into a system of homogeneous linear equations. A degree of consistency (and implicitly a degree of inconsistency) of a decision-making problem are defined. α-D MCDM is generalized to a set of preferences that can be transformed into a system of linear and/or nonlinear homogeneous and/or non-homogeneous equations and/or inequalities. Consistent, weak consistent, and strong consistent examples are presented in the sequel for linear and non-linear decision making problems.