TOPSIS method for spherical fuzzy MAGDM based on cumulative prospect theory and combined weights and its application to residential location

Nowadays, how to choose a comfortable and relatively satisfactory residence is one of the multiple attribute group decision making (MAGDM) issues which people are paying more and more attention. However, since the inaccuracy and fuzziness of the information are given by decision makers (DMs) in practical decision-making and psychological factors of DMs should be considered in the decision-making process, this paper presents TOPSIS approach based on cumulative prospect theory (CPT) to deal with the MAGDM issues under the spherical fuzzy environment. Furthermore, considering the objective relationship between the attributes, the combined weights are used to get attribute weights in spherical fuzzy sets (SFSs). Finally, an example of residential location is introduced to prove the validity of our proposed approach by comparing with spherical fuzzy TOPSIS(SF-TOPSIS) method and spherical fuzzy WASPAS (SF-WASPAS) method.

EDAS method based on cumulative prospect theory for multiple attribute group decision-making under picture fuzzy environment

For the long-term development of shopping mall, the managers of shopping mall tend to build a new store to expand the enterprise’s market share in a new city. After holding a preliminary survey of the city, managers have initially identified five sites for construction. In order to select an optimal site, managers invite four experts who come from university, marking statistics, corporate executives and accounting to score sites. And they choose the best site on the basis of scores. The trait of EDAS method is to select an optimal alternative by using the distance of each alternative from the first-rank value. In this manuscript, we build the picture fuzzy EDAS method based on the cumulative prospect theory (PF-CPT-EDAS) for multiple attribute group decision-making (MAGDM) and it can help managers to choose an optimal alternative effectively. During the procedure of PF-CPT-EDAS means, we take advantage of the entropy means to calculate the original weights of all attributes. Ultimately, we testify the effectiveness of the novel model by comparing the overcome of PF-CPT-EDAS means with the results of PF-EDAS approach and other methods.

A Multiclass Cumulative Prospect Theory-Based Stochastic User Equilibrium Model with Path Constraints in Degradable Transport Networks

The limited driving range and the unavailability or insufficiency of battery charging/swapping stations cause the so-called range anxiety issue for traffic assignment involving battery electric vehicle (BEV) users. In addition, expected utility theory-based stochastic user equilibrium (EUT-SUE) model generates the perfectly rational issue when the travellers make route choice decisions. To tackle these two problems, this article improves the cumulative prospect theory-based stochastic user equilibrium (CPT-SUE) model in a degradable transport network through incorporating the constraints of multiple user classes and distance limit. In this degradable network, the travellers experience stochastic travel times due to network link capacity degradations. For this improved CPT-SUE model, the equivalent variational inequality (VI) model and associated method of successive averages (MSA) based solution are provided. The improved CPT-SUE model is tested and compared with the EUT-SUE model with distance limit, with results showing that the improved CPT-SUE model can handle jointly the range anxiety issue and the perfectly rational issue.

Grey relational analysis method based on cumulative prospect theory for intuitionistic fuzzy multi-attribute group decision making

The Multi-attribute group decision making (MAGDM) problem is an interesting everyday problem full of complexity and ambiguity. As an extended form of fuzzy sets, intuitionistic fuzzy sets (IFSs) can provide decision-makers (DMs) with a wider range of preferences for MAGDM. The grey relational analysis (GRA) is an effective method for dealing with MAGDM problems. However, in view of the incomplete and asymmetric information and the influence of DMs’ psychological factors on the decision result, we develop a new model that GRA method based on cumulative prospect theory (CPT) under the intuitionistic fuzzy environment. Moreover, the weight of attribute is calculated by entropy weight, so as to distinguish the importance level of attributes, which greatly improves the credibility of the selected scheme. simultaneously, the proposed method is used to the selection of optimal green suppliers for testifying the availability of this new model and the final comparison between this new method and the existing methods further verify the reliability. In addition, the proposed method provides some references for other selection problems.

Video conferencing software selection based on hybrid MCDM and cumulative prospect theory under a major epidemic

The video conferencing software is regarded as a significant tool for social distancing and getting incorporations up and going. Due to the indeterminacy of epidemic evolution and the multiple criteria, this paper proposes a video conferencing software selection method based on hybrid multi-criteria decision making (HMCDM) under risk and cumulative prospect theory (CPT), in which the criteria values are expressed in various mathematical forms (e.g., real numbers, interval numbers, and linguistic terms) and can be changed with natural states of the epidemic. Initially, the detailed description of video conferencing software selection problem under an epidemic are given. Subsequently, a whole procedure for video conferencing software selection is conducted, the approaches for processing and normalizing the multi-format evaluation values are presented. Furthermore, the expectations provided by DMs under different natural states of the epidemic are considered as the corresponding reference points (RP). Based on this, the matrix of gains and losses is constructed. Then, the prospect values of all criteria and the perceived probabilities of natural states are calculated according to the value function and the weighting function in CPT respectively. Finally, the proposed method is illustrated by an empirical case study, and the comparison analysis and the sensitivity analysis for the loss aversion parameter are conducted to prove the effectiveness and robustness. The results show that considering the psychological characteristics of DMs in selection decision is beneficial to avoid the unacceptable and potential loss risks. This study could provide a useful guideline for managers who intend to select appropriate video conferencing software.