MCDMDecision-makingRankingMath steps
Election based on Relative Value Distances
ERVD (Election based on Relative Value Distances) is a ranking multi-criteria decision-making (MCDM) method introduced by Shyur, H. J., Yin, L., Shih, H. S., Cheng, C. B. in 2015. It turns a decision matrix of alternatives scored on multiple criteria into a structured, reproducible result.
Key highlights
- Follows a transparent, reproducible computational procedure that can be audited step by step.
- Handles multiple criteria of differing scales and units within a single decision matrix.
Intuition
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How it works
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When to use it
φ_i ∈ [0,1]. Higher = better (closer to PIS). Behaviorally grounded: losses are weighted more heavily than gains (λ=2.25 default). Reference point strongly affects results — choose carefully.
Strengths & limitations
Strengths
- Follows a transparent, reproducible computational procedure that can be audited step by step.
- Handles multiple criteria of differing scales and units within a single decision matrix.
Limitations
- Assumes full compensation — a strong score on one criterion can offset a weak score on another.
Common pitfalls
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Sources
- 1.Shyur, H. J., Yin, L., Shih, H. S., Cheng, C. B. (2015). A multiple criteria decision making method based on relative value distances. Foundations of Computing and Decision Sciences
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Cite this page
ScholarGate. (2026, June 2). ERVD. ScholarGate. https://scholargate.app/decision-making/ervd