what is group utility in vikor
Vikor method is a multi-criteria decision-making technique that is used to evaluate and rank alternative options based on several criteria. The group utility in Vikor refers to the overall satisfaction or preference of a group of decision-makers towards each alternative option.
In other words, the group utility in Vikor is a measure of how well each alternative satisfies the criteria and preferences of all decision-makers involved in the decision-making process. It is calculated by aggregating the individual utilities of each decision-maker into a single score that reflects the overall satisfaction of the group with each option.
The group utility is an important concept in Vikor because it allows decision-makers to take into account the preferences and opinions of all stakeholders in the decision-making process, rather than just focusing on individual preferences or priorities. This can help to ensure that the final decision is more balanced and representative of the needs and preferences of the entire group.