scholarly journals 2-Tuple Unbalanced Linguistic Multiple Criteria Group Decision Making using Prospect Theory Data Envelopment Analysis

2021 ◽  
Author(s):  
Imran Khan ◽  
Anjana Gupta ◽  
Aparna Mehra
Keyword(s):  
Decision Making ◽  
Data Envelopment Analysis ◽  
Prospect Theory ◽  
Group Decision Making ◽  
Group Decision ◽  
Programming Model ◽  
Multiple Criteria ◽  
Data Envelopment ◽  
Linguistic Term ◽  
Criteria Weights

Abstract The linguistic terms in a balanced linguistic term set describing qualitative data are symmetrical around the central linguistic word. With the growing complexity of the problems, the symmetric linguistic term set appears to be confined. This work examines the multiple criteria group decision-making problems where decision-makers employ a 2-tuple unbalanced linguistic term set to provide entries of alternative-criteria matrices.We adopt a data envelopment analysis (DEA) method and create a linear programming model to evaluate alternative-criteria weights for each decision-maker. The value function from prospect theory models the non-rational aspect of risk in criteria. The values of prospect gain and prospect loss on cost and benefit criteria are computed and used to create a DEA model that evaluates the weights of each criterion on each alternative. Finally, the entropy values of the cross-efficiency scores deliver a ranking of the alternatives. A numerical example illustrates the proposed methodology

scholarly journals Rough-Number-Based Multiple-Criteria Group Decision-Making Method by Combining the BWM and Prospect Theory

2020 ◽  
Vol 2020 ◽  
pp. 1-16
Author(s):  
Fan Jia ◽  
Xingyuan Wang
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Group Decision Making ◽  
Group Decision ◽  
Programming Model ◽  
Weighting Function ◽  
Information Aggregation ◽  
Criteria Weights ◽  
Multicriteria Group Decision Making ◽  
Novel Method

Multicriteria group decision-making (MCGDM) problems have been a research hotspot in recent years, and prospect theory is introduced to cope with the risk and imprecision in the process of decision-making. To guarantee the effectiveness of information aggregation and extend the feasibility of prospect theory, this paper proposes a novel decision-making approach based on rough numbers and prospect theory to solve risky and uncertain MCGDM problems. Firstly by combining rough numbers and the best-worst method (BWM), we construct a linear programming model to calculate rough criteria weights, which are defined by lower limitations and upper limitations. Then for the imprecision of value function and weighting function in prospect theory, we propose a novel method with the aid of combining rough numbers and prospect theory to handle the risk in decision-making problems. Finally, a numerical example involving investment is introduced to illustrate the application and validity of the proposed method.

scholarly journals A New Grey Approach for Using SWARA and PIPRECIA Methods in a Group Decision-Making Environment

Mathematics ◽  
2021 ◽  
Vol 9 (13) ◽  
pp. 1554
Author(s):  
Dragiša Stanujkić ◽  
Darjan Karabašević ◽  
Gabrijela Popović ◽  
Predrag S. Stanimirović ◽  
Muzafer Saračević ◽  
...  
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Multiple Criteria Decision Making ◽  
Grey System Theory ◽  
Multiple Criteria ◽  
Decision Making Process ◽  
Grey System ◽  
Criteria Weights

The environment in which the decision-making process takes place is often characterized by uncertainty and vagueness and, because of that, sometimes it is very hard to express the criteria weights with crisp numbers. Therefore, the application of the Grey System Theory, i.e., grey numbers, in this case, is very convenient when it comes to determination of the criteria weights with partially known information. Besides, the criteria weights have a significant role in the multiple criteria decision-making process. Many ordinary multiple criteria decision-making methods are adapted for using grey numbers, and this is the case in this article as well. A new grey extension of the certain multiple criteria decision-making methods for the determination of the criteria weights is proposed. Therefore, the article aims to propose a new extension of the Step-wise Weight Assessment Ratio Analysis (SWARA) and PIvot Pairwise Relative Criteria Importance Assessment (PIPRECIA) methods adapted for group decision-making. In the proposed approach, attitudes of decision-makers are transformed into grey group attitudes, which allows taking advantage of the benefit that grey numbers provide over crisp numbers. The main advantage of the proposed approach in relation to the use of crisp numbers is the ability to conduct different analyses, i.e., considering different scenarios, such as pessimistic, optimistic, and so on. By varying the value of the whitening coefficient, different weights of the criteria can be obtained, and it should be emphasized that this approach gives the same weights as in the case of crisp numbers when the whitening coefficient has a value of 0.5. In addition, in this approach, the grey number was formed based on the median value of collected responses because it better maintains the deviation from the normal distribution of the collected responses. The application of the proposed approach was considered through two numerical illustrations, based on which appropriate conclusions were drawn.

scholarly journals An Approach of Interval-Valued Picture Fuzzy Uncertain Linguistic Aggregation Operator and Their Application on Supplier Selection Decision-Making in Logistics Service Value Concretion

2021 ◽  
Vol 2021 ◽  
pp. 1-19
Author(s):  
Muhammad Naeem ◽  
Muhammad Qiyas ◽  
Saleem Abdullah
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Supplier Selection ◽  
Group Decision ◽  
Multiple Criteria ◽  
Service Value ◽  
Logistics Service ◽  
Criteria Weights ◽  
Selection Decision ◽  
Interval Valued

With respect to multiple criteria group decision-making (MCGDM) problems in which both the criteria weights and the expert weights take the form of crisp numbers and attribute values take the form of interval-valued picture fuzzy uncertain linguistic numbers, some new group decision-making analysis methods are developed. Firstly, some operational laws, expected value, and accuracy function of interval-valued picture fuzzy uncertain linguistic numbers are introduced. Then, an interval-valued picture fuzzy uncertain linguistic averaging and geometric aggregation operators are developed. Furthermore, some desirable properties of the developed operators, such as commutativity, idempotency, and monotonicity, have been studied. Based on these operators, an approach to multiple criteria group decision-making with interval-valued picture fuzzy uncertain linguistic information has been proposed. Finally, a practical example of 3PL supplier selection in logistics service value concretion is taken to test the defined method and to expose the effectiveness of the defined model.

scholarly journals A BI-OBJECTIVE SCORE-VARIANCE BASED LINEAR ASSIGNMENT METHOD FOR GROUP DECISION MAKING WITH HESITANT FUZZY LINGUISTIC TERM SETS

2018 ◽  
Vol 24 (3) ◽  
pp. 1125-1148 ◽  
Author(s):  
Seyed Hossein RAZAVI HAJIAGHA ◽  
Meisam SHAHBAZI ◽  
Hannan AMOOZAD MAHDIRAJI ◽  
Hossein PANAHIAN
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Decision Makers ◽  
Assignment Method ◽  
Linguistic Term ◽  
Criteria Weights ◽  
Individual Evaluation ◽  
Fuzzy Linguistic ◽  
Linear Assignment

Decision makers usually prefer to express their preferences by linguistic variables. Classic fuzzy sets allowed expressing these preferences using a single linguistic value. Considering inevitable hesitancy of decision makers, hesitant fuzzy linguistic term sets allowed them to express individual evaluation using several linguistic values. Therefore, these sets improve the ability of humans to determine believes using their own language. Considering this feature, in this paper a method upon linear assignment method is proposed to solve group decision making problems using this kind of information, when criteria weights are known or unknown. The performance of the proposed method is illustrated in a numerical example and the results are compared with other methods to delineate the models efficiency. Following a logical and well-known mathematical logic along with simplicity of execution are the main advantages of the proposed method.

Evaluating two-stage holistic production systems using novel CSDEA approach

2018 ◽  
Vol 13 (1) ◽  
pp. 101-118 ◽  
Author(s):  
Dujun Zhai ◽  
Minyue Jin ◽  
Jennifer Shang ◽  
Chenfeng Ji
Keyword(s):  
Decision Making ◽  
Data Envelopment Analysis ◽  
Production Process ◽  
Group Decision Making ◽  
Group Decision ◽  
Collective Decision ◽  
Data Envelopment ◽  
Two Stage ◽  
Decision Strategies ◽  
Content Type

Purpose The purpose of this paper is to apply data envelopment analysis (DEA) techniques to the collective decision-making environment to appraise two-stage production process under different decision preferences. Design/methodology/approach The authors propose a novel multi-criteria group decision-making approach that uses consensus-strategic data envelopment analysis (CSDEA) to appraise two-stage production process under two different decision strategies, which are efficiency- and fairness-based group decision preferences. Findings The authors find that the proposed CSDEA model evaluates the performance of the decision-making units (DMUs) not by diminishing other competitors but rather based on group interests of the entire decision set. Originality/value The authors extend Li’s two-stage model to cases that consider both intermediate inputs and outputs. The authors address the issue of incorporating collective managerial strategy into multi-criteria group decision-making and propose a novel CSDEA model that considers not only the individual-level performance of a DMU but also the group-level or collective decision strategies.

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