Analytical hierarchy process (AHP) is known for its great flexibility and wide applicability. Because of ease of use, AHP has been studied extensively and used in all applications related to multi-criteria decision making (MCDM) since its inception. AHP converts qualitative opinion of experts into quantitative values and generates a comparison matrix. In this paper, multiple expert judgments have been considered for development of matrices for criteria and alternatives of an investment selection problem. Experts' opinion was sought on selection of four categories of investment avenues based on five different selection criteria. We have integrated data envelopment analysis (DEA) to generate local weights of criteria and alternatives of pairwise comparison matrices using fundamental scale developed by Saaty.
Published in: International Journal of Operational Research, Vol. 45, No. 3