Tavana, MadjidDi Caprio, DeboraSantos Arteaga, Francisco Javier2025-11-252025-11-252018-03-01Madjid Tavana, Debora Di Caprio, Francisco J. Santos-Arteaga, An extended stochastic VIKOR model with decision maker's attitude towards risk, Information Sciences, Volume 432, 2018, Pages 301-318, ISSN 0020-0255, https://doi.org/10.1016/j.ins.2017.12.019. (https://www.sciencedirect.com/science/article/pii/S0020025516322903)0020-025510.1016/j.ins.2017.12.019https://hdl.handle.net/20.500.14352/126498We propose a risk-based stochastic VIKOR (RB-VIKOR) model that accounts for differences in the risk attitudes of the decision makers (DMs) when ranking stochastic alternatives. Our proposed RB-VIKOR model is designed to solve multi-criteria problems characterized by stochastic data and DMs categorized by their risk averse or risk seeking behavior. These differences in risk attitudes determine the subjective beliefs of the DMs regarding the evaluation of each alternative per decision criterion and the resulting rankings. We present a case study in the banking industry to illustrate how differences in the risk attitudes of the DMs condition the rankings obtained. Moreover, we compare our results with those derived from a stochastic super-efficiency data envelopment analysis (DEA) model to demonstrate the applicability and efficacy of RB-VIKOR. The proposed method has a considerable amount of potential applications to diverse research areas ranging from economics to knowledge based and decision support systems.engjournal articlehttps://www.sciencedirect.com/science/article/pii/S0020025516322903metadata only access33Multi-criteria decision makingVIKOR methodStochastic dataSubjective judgmentsRisk attitudesStochastic super-efficiencyDEAEconomía1207 Investigación Operativa