A flexible approach to ranking with an application to MBA Programs

Koksalan M., Buyukbasaran T., Ozpeynirci O., Wallenius J.

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, vol.201, no.2, pp.470-476, 2010 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 201 Issue: 2
  • Publication Date: 2010
  • Doi Number: 10.1016/j.ejor.2009.02.034
  • Journal Name: EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Page Numbers: pp.470-476
  • Keywords: Ranking, Sorting, Mixed Integer Programming, Multiple criteria, MBA Programs, DECISION-SUPPORT, PREFERENCE, ALTERNATIVES, ELICITATION, WEIGHTS
  • Middle East Technical University Affiliated: Yes

Abstract

We develop a model for flexibly ranking multi-dimensional alternatives/units into preference classes via Mixed Integer Programming. We consider a linear aggregation model, but allow the criterion weights to vary within pre-specified ranges. This allows the individual alternatives/units to play to their strengths. We illustrate the use of the model by considering the Financial Times Global MBA Program rankings and discuss the implications. We argue that in many applications neither the data nor the weights or the aggregation model itself is precise enough to warrant a complete ranking. providing an argument for sorting or what we call flexible ranking. (C) 2009 Elsevier B.V. All rights reserved.