The Analytic Network Process (ANP) developed by Thomas Saaty in
his work on multicriteria decision making applies network
structures with dependence and feedback to complex decision making.
This book is a selection of applications of ANP to economic, social
and political decisions, and also to technological design. The
chapters comprise contributions of scholars, consultants and people
concerned about the outcome of certain important decisions who
applied the Analytic Network Process to determine the best outcome
for each decision from among several potential outcomes. The ANP is
a methodological tool that is helpful to organize knowledge and
thinking, elicit judgments registered in both in memory and in
feelings, quantify the judgments and derive priorities from them,
and finally synthesize these diverse priorities into a single
mathematically and logically justifiable overall outcome. In the
process of deriving this outcome, the ANP also allows for the
representation and synthesis of diverse opinions in the midst of
discussion and debate,
The ANP offers economists a considerably different approach for
dealing with economic problems than the usual quantitative models
used. The ANP approach is based on absolute scales used to
represent pairwise comparison judgments in the context of dominance
with respect to a property shared by the homogeneous elements being
compared. How much or how many times more does A dominate B with
respect to property P? Actually people are able to answer this
question by using words to indicate intensity of dominance that all
of us are equipped biologically to do all the time (equal,
moderate, strong, very strong, and extreme) whose conversion to
numbers, validation and extension to inhomogeneous elements form
the foundation of the AHP/ANP. Numerous applications of the ANP
have been made to economic problems, among which prediction of the
turn-around dates for the US economy in the early 1990 s and again
in 2001 whose accuracy and validity were both confirmed later in
the news. They were based on the process of comparisons of mostly
intangible factors rather than on financial, employment and other
data and statistics.
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