The uncertainty related to the inexactitude of prioritization based on consistent pairwise comparisons

When the in/consistency in Pairwise Comparisons (PCs) is taken into consideration as the subarea of the Multi Attribute Decision Making (MADM) scientific field, it has many repercussions in various types of research areas including different modelling scenarios e.g. reduction of inconsistency during PCs, deriving appropriate consistency thresholds for inconsistent Pairwise Comparison Matrices (PCMs), completing of incomplete PCMs, aggregating of individual PCMs in relation to Group Decision Making (GDM) aspects, and PCMs in/consistency relation to credibility of Priority Vectors (PV) derived from PCMs with the application of various Priorities Deriving Methods (PDMs). The examination objective in the latter area of research is the uncertainty related to the inexactitude of prioritization based on derived PVs. However, only few research studies examine this problem from the perspective of PCM applicability for credible designation of decision maker’s (DM) priorities in the way that leads to minimization of the prioritization uncertainty related to possible, and sometimes very probable, ranking fluctuations. This problem constitutes the primary area of interest for this research paper as no research study was thus far identified that examines this problem from the perspective of consistent PCMs. Hence, a research gap was identified. Thus, the objective of this research paper is to fill in this scientific gap. The research findings have serious repercussions in relation to prioritization quality with the application of PCs methodology, mostly in relation to the interpretation and reliability evaluation of prioritization results. Firstly, the research study outcome changes the perspective of the rank reversal phenomenon, which shed new light on many research studies that have been presented in the subject’s literature for many decades. Secondly, the research study results throw new light on the discussion concerning the fuzziness of AHP’s results. Last but not least, the effect of the research opens the unique opportunity to evaluate the prioritization outcome obtained within the process of consistent PCs from the well-known perspective of statistical hypothesis testing i.e. the probability designation of the chance that accepted ranking results which were considered as correct due to low probability of change may be incorrect, hence they should be rejected, and the probability designation of the chance that rejected ranking results which were considered as incorrect due to high probability of change may be correct and should be accepted. The paramount finding of the research is the fact that consistent PCMs provide PVs, which elements cannot be considered as established, but only approximated within certain confidence intervals estimated with a certain level of probability. As problems related to heuristics can be analyzed only via a computer simulation process, because they cannot be mathematically determined, the problem examined in this research paper is examined via Monte Carlo simulations, appropriately coded and executed with the application of Wolfram’s Mathematica Software. It is believed that this research findings should be very important and useful for all decision makers and researchers during their problems‘ examinations that relate to prioritization processes with the application of PCs methodology.