ELECTRE Meaning and
Definition
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Electre is a multi-criteria decision-making method that was developed by French academics Bernard Roy and Claude Hervé in the 1960s. It is an acronym for "ELimination Et Choix Traduisant la REalité," which translates to "Elimination and Choice Translating Reality" in English.
Electre is a technique used to evaluate and prioritize multiple alternatives based on different criteria or attributes. It aims to find the best compromise solution by comparing each alternative against a set of criteria and determining their relative importance. The method involves a step-by-step process of eliminating less desirable options and ranking the remaining ones.
First, a decision matrix is created, with rows representing the alternatives and columns representing the evaluation criteria. Each alternative is rated on a scale or scale-based model for each criterion. Electre then computes preference indices and concordance/discordance measures, taking into account the decision-maker's preferences and thresholds.
The preference indices represent the dominance relationship between alternatives, determining which options are preferred over others. The concordance/discordance measures determine the level of agreement or disagreement between each pair of alternatives in terms of the criteria.
Electre provides decision-makers with a graphical presentation of the alternatives, displaying preferred and non-preferred options. The method allows for sensitivity analysis by adjusting the thresholds and examining the impact on the rankings.
Electre is widely used in various fields, including engineering, management, economics, and environmental decision-making, to help individuals and organizations make informed decisions when faced with complex and conflicting criteria.
Common Misspellings for ELECTRE
- wlectre
- dlectre
- rlectre
- 4lectre
- 3lectre
- ekectre
- eoectre
- elwctre
- elsctre
- eldctre
- elrctre
- el4ctre
- el3ctre
- elextre
- elevtre
- eleftre
- eledtre
- elecrre
- elecfre
Etymology of ELECTRE
The word "Electre" is derived from the Greek word "Ἠλέκτρα" (Ēléktra), which means "amber". This term is also associated with the Greek mythology character Electra, the daughter of King Agamemnon and Queen Clytemnestra. In Greek mythology, Electra played a significant role in the tragic events surrounding the House of Atreus, seeking revenge for the murder of her father by her mother and her lover. The word "Electre" may have later been adapted and used in other contexts as well.
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