scholarly journals Uncertain Multiattribute Decision-Making Based on Interval Number with Extension-Dependent Degree and Regret Aversion

2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
Libo Xu ◽  
Xingsen Li ◽  
Chaoyi Pang
Keyword(s):  
Decision Making ◽  
Interval Number ◽  
Decision Makers ◽  
Regret Theory ◽  
Utility Value ◽  
Perceived Utility ◽  
Dependent Function ◽  
Optimal Value ◽  
Decision Making Problem ◽  
Regret Aversion

In view of the uncertainty multiattribute decision-making problem with attribute values and weights both being interval number, a new solution based on regret theory and extension-dependent degree is proposed. It can define pass value of each attribute, which means decision-maker’s acceptance for the scheme under the pass value will decline quickly. Then according to traditional regret theory, the method defines an extension-dependent function based on pass value which can improve the flexibility of the traditional utility function and the ability to describe the risk aversion actions from decision-makers. Then the extension-dependent function for interval number is built, and the perceived utility value of each scheme is obtained based on the interval’s optimal value. The method can also reflect the decision-maker’s reference to high or low evaluation score by setting attitude coefficients. At last, an example is presented to examine the feasibility, effectiveness, and stability of our method.

scholarly journals Extension Dependent Degree Method with Mapping Transformation for Three-Parameter Interval Number Decision Making

2018 ◽  
Vol 2018 ◽  
pp. 1-12
Author(s):  
Li-Bo Xu ◽  
Xing-Sen Li ◽  
Jun-kai Shao ◽  
Kai-jie Wang
Keyword(s):  
Decision Making ◽  
Interval Mapping ◽  
Transformation Method ◽  
Interval Number ◽  
Interval Numbers ◽  
New Approach ◽  
Dependent Function ◽  
Optimal Value ◽  
Decision Making Problem ◽  
Parameter Interval

In view of the multiattribute decision making problem that the attribute values and weights are both three-parameter interval numbers, a new decision making approach and framework based on extension simple dependent degree are proposed. According to traditional extension simple dependent function, the new approach proposes a new extension dependent function for three-parameter interval number. Then through an interval mapping transformation method, the process for obtaining dependent degree for the interval with its optimal value not being the endpoint is transformed to the monotonous process for the interval with its optimal value being the endpoint. The method can not only perform uncertain analysis of decision results by different settings of attitude coefficients, but also take dynamic analysis and rule finding by some extension transformation. At last, an example is presented to examine the effectiveness and stability of our method.

A novel method for multi-attribute risk decision-making based on regret theory and hybird information

2020 ◽  
Vol 39 (5) ◽  
pp. 6955-6964
Author(s):  
Nian Zhang ◽  
Yunpeng Han ◽  
Quanshen Si ◽  
Guiwu Wei
Keyword(s):  
Decision Making ◽  
Transformation Method ◽  
Decision Makers ◽  
Regret Theory ◽  
Utility Values ◽  
Weighted Arithmetic ◽  
Relative Closeness ◽  
Decision Making Problem ◽  
Ranking Order ◽  
Risk Decision

To consider the decision makers’ regret behavior and describe the hybrid evolution information in the risk decision-making problem, a new approach is proposed based on regret theory in this paper. Firstly, the probable value of different states are calculated by Pignistic probability transformation method. Secondly, the relative closeness formula of hybrid information are established and the utility values of alternatives are computed. Then, decision makers’ utility values are obtained according to the regret theory. Moreover, the overall perceived utility values of alternatives are obtained by weighted arithmetic mean and got the optimal one by the ranking order. Finally, an numerical example is illustrated the method and comparative analysis are offered between the proposed approach and other existed methods to show that is feasible and usable.

Grey risky multi-attribute decision-making method based on regret theory and EDAS

2019 ◽  
Vol 9 (1) ◽  
pp. 101-113 ◽  
Author(s):  
Lili Qian ◽  
Sifeng Liu ◽  
Zhigeng Fang
Keyword(s):  
Decision Making ◽  
Design Methodology ◽  
Decision Makers ◽  
Regret Theory ◽  
Ranking Problem ◽  
Content Type ◽  
Multi Attribute Decision Making ◽  
Method Of Evaluation ◽  
Regret Aversion ◽  
First Time

Purpose The purpose of this paper is to advance a new grey risky multi-attribute decision-making (RMADM) method from the perspective of regret aversion, which is based on the general grey numbers (GGNs) taking the form of kernel and degree of greyness. Design/methodology/approach First, the normalised grey decision-making matrix is obtained on the basis of kernel and greyness degree of GGNs. Then the regret theory is integrated into the decision-making process by constructing the grey perceived utility function based on GGNs. Finally, the method of evaluation based on distance from average solution (EDAS) is applied to handle with the ranking problem because of its efficiency, stability as well as simplicity. Findings GGNs have more powerful capacity in expressing uncertainty than interval grey numbers, so the method can solve a larger number of RMADM problems in uncertain and imprecise environments. Meanwhile, the method fully considers the psychological behaviour of the decision makers, which is more applicable to the real world. It is the supplement and perfection of the existing RMADM methods. Originality/value The RMADM problem, the grey regret-rejoice function and the EDAS method are all introduced for the first time with GGNs in the form of kernel and degree of greyness. At the same time, the EDAS method is also the first time to be used in combination with the grey RMADM method based on the regret theory.

scholarly journals A Novel Regret Theory-Based Decision-Making Method Combined with the Intuitionistic Fuzzy Canberra Distance

2020 ◽  
Vol 2020 ◽  
pp. 1-9
Author(s):  
Haiping Ren ◽  
Yunxiao Gao ◽  
Tonghua Yang
Keyword(s):  
Decision Making ◽  
Rank Order ◽  
Behavioral Decision Theory ◽  
Final Decision ◽  
Regret Theory ◽  
Utility Value ◽  
Attribute Weight ◽  
Intuitionistic Fuzzy ◽  
Perceived Utility ◽  
Canberra Distance

In practical decision-making, the behavior factors of decision makers often affect the final decision-making results. Regret theory is an important behavioral decision theory. Based on the regret theory, a novel decision-making method is proposed for the multiattribute decision-making problem with incomplete attribute weight information, and the attribute values are expressed by Atanassov intuitionistic fuzzy numbers. At first, a new distance of intuitionistic fuzzy sets is put forward based on the traditional Canberra distance. Then, we utilize it for the definition of the regret value (rejoice) for the attribute value of each alternative with the corresponding values of the positive point (negative point). The objective of this method is to maximize the comprehensive perceived utility of the alternative set by the decision maker. The optimal attribute weight vector is solved, and the optimal comprehensive perceived utility value of each alternative is obtained. Finally, according to the optimal comprehensive perceived utility value, the rank order of all alternatives is concluded.

scholarly journals A Multi-Criteria Decision Support Concept for Selecting the Optimal Contractor

2021 ◽  
Vol 11 (4) ◽  
pp. 1660 ◽  
Author(s):  
Ivan Marović ◽  
Monika Perić ◽  
Tomaš Hanak
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Project Performance ◽  
Decision Makers ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Conflicting Demands ◽  
Decision Making Problem ◽  
Scientific Approach ◽  
Hierarchy Process

A way to minimize uncertainty and achieve the best possible project performance in construction project management can be achieved during the procurement process, which involves selecting an optimal contractor according to “the most economically advantageous tender.” As resources are limited, decision-makers are often pulled apart by conflicting demands coming from various stakeholders. The challenge of addressing them at the same time can be modelled as a multi-criteria decision-making problem. The aim of this paper is to show that the analytic hierarchy process (AHP) together with PROMETHEE could cope with such a problem. As a result of their synergy, a decision support concept for selecting the optimal contractor (DSC-CONT) is proposed that: (a) allows the incorporation of opposing stakeholders’ demands; (b) increases the transparency of decision-making and the consistency of the decision-making process; (c) enhances the legitimacy of the final outcome; and (d) is a scientific approach with great potential for application to similar decision-making problems where sustainable decisions are needed.

scholarly journals Risky Multi-Attribute Decision-Making Method Based on the Interval Number of Normal Distribution

Symmetry ◽  
2020 ◽  
Vol 12 (2) ◽  
pp. 264
Author(s):  
Sha Fu ◽  
Xi-Long Qu ◽  
Ye-Zhi Xiao ◽  
Hang-Jun Zhou ◽  
Guo-Bing Fan
Keyword(s):  
Decision Making ◽  
Normal Distribution ◽  
Interval Number ◽  
Information Environment ◽  
Decision Makers ◽  
Standard Normal Distribution ◽  
Risky Decision ◽  
Possibility Degree ◽  
Standard Normal ◽  
Multi Attribute Decision Making

Focusing on risky decision-making problems taking the interval number of normal distribution as the information environment, this paper proposes a decision-making method based on the interval number of normal distribution. Firstly, the normalized matrix based on the decision maker’s attitude is obtained through analysis and calculation. Secondly, according to the existing properties of standard normal distribution, the risk preference factors of the decision makers are considered to confirm the possibility degree of each scheme. The possibility degree is then used for establishing a possibility degree matrix and, consequently, sequencing of all schemes is conducted according to existing theories of possibility degree meaning and the value size of possibility degree. Finally, the feasibility and validity of this method is verified through calculation example analysis.

An Integrated Intuitionistic Fuzzy MCDM Approach to Select Cloud-Based ERP System for SMEs

2019 ◽  
Vol 18 (06) ◽  
pp. 1875-1908
Author(s):  
Akshay Hinduja ◽  
Manju Pandey
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Managerial Decision ◽  
Erp System ◽  
Intuitionistic Fuzzy ◽  
Decision Making Problem ◽  
Fuzzy Preference Relations ◽  
Priority Method ◽  
Selection Of

ERP system is a software package that integrates and manages all the facets of the business and deeply influences the success of a business endeavor. The increasing competition in the market, rapidly changing demands, and increasing intricacy of business procedures induce enterprises to adopt ERP solutions. Adopting an ERP solution increases synchronization between business activities and reinforces managerial decision-making. However, it also involves a large investment, a significant amount of human resources and time, and risk of failure. Therefore, the selection of an ERP solution is a crucial decision for enterprises. To address this decision-making problem, we propose a four-stage multi-criteria decision-making approach in this paper. Three prevalent MCDM techniques, DEMATEL, IF-ANP, and IF-AHP, are used in different stages of the methodology to achieve better outcomes. The methodology incorporates the intuitionistic fuzzy sets to capture uncertainty and hesitancy involved in decision makers’ judgments. In addition, we develop a novel priority method to derive weights from the intuitionistic fuzzy preference relations. To validate the feasibility of the proposed approach, a case study is carried out on the selection of cloud-based ERP system for SMEs in the Chhattisgarh state of India, which indicates that the proposed four-stage approach effectively handles the ERP selection problem.

scholarly journals Simplified Neutrosophic Sets Based on Interval Dependent Degree for Multi-Criteria Group Decision-Making Problems

Symmetry ◽  
2018 ◽  
Vol 10 (11) ◽  
pp. 640 ◽  
Author(s):  
Xu Libo ◽  
Li Xingsen ◽  
Pang Chaoyi ◽  
Guo Yan
Keyword(s):  
Decision Making ◽  
Distribution Function ◽  
Group Decision Making ◽  
Group Decision ◽  
Dynamic Change ◽  
Transformation Operator ◽  
Decision Makers ◽  
Neutrosophic Sets ◽  
New Approach ◽  
Dependent Function

In this paper, a new approach and framework based on the interval dependent degree for multi-criteria group decision-making (MCGDM) problems with simplified neutrosophic sets (SNSs) is proposed. Firstly, the simplified dependent function and distribution function are defined. Then, they are integrated into the interval dependent function which contains interval computing and distribution information of the intervals. Subsequently, the interval transformation operator is defined to convert simplified neutrosophic numbers (SNNs) into intervals, and then the interval dependent function for SNNs is deduced. Finally, an example is provided to verify the feasibility and effectiveness of the proposed method, together with its comparative analysis. In addition, uncertainty analysis, which can reflect the dynamic change of the final result caused by changes in the decision makers’ preferences, is performed in different distribution function situations. That increases the reliability and accuracy of the result.

Synthesizing Different Preference Information by Fuzzy Programming Method

2011 ◽  
Vol 328-330 ◽  
pp. 2352-2357
Author(s):  
Jing Yang
Keyword(s):  
Decision Making ◽  
Group Decision ◽  
Fuzzy Programming ◽  
Fuzzy Linear Programming ◽  
Decision Makers ◽  
Preference Ordering ◽  
Utility Value ◽  
Preference Information ◽  
Preference Strength ◽  
Judgment Matrix

Group decision making problems with different forms of preference information are discussed. Firstly, four forms of preference information ( i.e. preference ordering, utility value, AHP judgment matrix and fuzzy judgment matrix) are introduced and the computing formulas are given to transform different forms of preference information into the form of fuzzy judgment matrix. A new method that involves in different preference strength of experts is studied. Then, the assessment of the group priorities is formulated as a fuzzy linear programming problem, maximizing the group’s overall satisfaction to get the group solution. The method can easily deal with missing judgments and different partiality intensity by decision makers. At the end, the feasibility and effectiveness of method is explained by an example.

A Decision Making Model for Urban Mass Transit Planning

2012 ◽  
Vol 178-181 ◽  
pp. 1898-1903
Author(s):  
Cheng Bing Li ◽  
Kui Yang
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Decision Model ◽  
Group Decision ◽  
Multiple Objectives ◽  
Decision Makers ◽  
Transit Planning ◽  
Entropy Weight ◽  
Decision Making Problem ◽  
Urban Mass Transit

The urban transit network planning is considered as a group decision making problem with multiple objectives and multiple decision makers, due to the its planning characteristics. A new group decision making method is presented to overcome the problem in current group decision making. With the idea of integration and collaboration, the group decision making problem is turned into the group decision making with multiple objectives and decision makers, and the two stage decision model is established. The dynamic index is transformed into static index with the dynamic multi-valued context, and the first stage decision model is established by entropy weight theory. The weight is given by experts with cluster analysis, and the aggregation model of group decision making is established with relative entropy, in the second stage.

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