scholarly journals Three-Parameter Interval Grey Number Multi-Attribute Decision Making Method Based on Information Entropy

2016 ◽  
Vol 21 (2) ◽  
pp. 17 ◽  
Author(s):  
Sha Fu
Keyword(s):  
Decision Making ◽  
Information Entropy ◽  
Multi Attribute Decision Making ◽  
Parameter Interval ◽  
Grey Number

Multi-attribute grey target decision method with three-parameter interval grey number

2016 ◽  
Vol 6 (2) ◽  
pp. 270-280 ◽  
Author(s):  
Ye Li ◽  
Shanli Zhu ◽  
San-dang Guo
Keyword(s):  
Decision Making ◽  
Distance Measure ◽  
Ranking Method ◽  
Content Type ◽  
Uncertain Environment ◽  
Decision Method ◽  
Multi Attribute Decision Making ◽  
Parameter Interval ◽  
Grey Number ◽  
Bull's Eye

Purpose – The purpose of this paper is to propose the grey target decision method based on three-parameter interval grey number for dealing with multi-attribute decision-making problems under uncertain environment. Design/methodology/approach – First, the kernel and ranking method of three-parameter interval grey number are defined, which is the basis of determining the positive and negative bull’s-eye. Next, a new distance measure of three-parameter interval grey number is defined in view of the importance of the “center of gravity” point. Furthermore, a new comprehensive bull’s-eye distance is proposed based on the kernel which integrates the distance between different attributes to the positive and negative bull’s-eye. Then attribute weights are obtained by comprehensive bull’s-eye distance minimum and grey entropy maximization. Findings – The paper provides a grey target decision method based on three-parameter interval grey number and example analysis shows that the method proposed in this paper is more reasonable and effective. Research limitations/implications – If we have a better understanding of the distribution characteristics of three-parameter interval grey number, it is possible to have a more reasonable measure of the distance of three-parameter interval grey number. Practical implications – The paper provides a grey target decision method, which can help decision maker deal with multi-attribute decision-making problems under uncertain environment. Originality/value – This paper proposed the kernel and ranking method of three-parameter interval grey number, and defined a new distance measure of three-parameter interval grey number and proposed a new comprehensive bull’s-eye distance, Furthermore, this paper structured a grey target decision method based on three-parameter interval grey number.

Dynamic multi-attribute decision-making method with three-parameter interval grey number based on the prospect theory

2018 ◽  
Vol 8 (4) ◽  
pp. 424-435 ◽  
Author(s):  
Ye Li ◽  
Dongxing Zhang
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Value Function ◽  
Reference Points ◽  
Content Type ◽  
Time Points ◽  
Decision Method ◽  
Multi Attribute Decision Making ◽  
Parameter Interval ◽  
Grey Number

Purpose The purpose of this paper is to propose a dynamic multi-attribute decision-making method based on the prospect theory for dealing with the dynamic multi-attribute decision-making problem with three-parameter interval grey number. Design/methodology/approach First, the kernel and comparison rule of three-parameter interval grey numbers are defined, which are the basis of collecting and sorting grey numbers. Next, the prospect value function is determined in view of the decision-making information with different time points as the reference points. Then, an optimal model for solving the attribute weight and time weight is constructed based on the grey entropy principle. Findings The paper provides a dynamic grey interrelation decision method based on the prospect theory with three-parameter interval grey number, and the example analysis shows that the method proposed in this paper has validity and rationality. Research limitations/implications If we have a better understanding of the weights of different reference points, it is possible to receive a more reasonable expression for the comprehensive prospect utility value function. Practical implications The paper provides a grey interrelation decision method based on the prospect theory, which can help the decision maker deal with the dynamic multi-attribute decision-making problems under the uncertain environment. Originality/value The paper proposes the kernel and ranking method of three-parameter interval grey number, and uses different time points as the reference points to define the prospect value function. Furthermore, this paper structures a dynamic grey interrelation decision method with three-parameter interval grey number based on the prospect theory.

Grey relational decision making model of three-parameter interval grey number based on AHP and DEA

2019 ◽  
Vol 10 (1) ◽  
pp. 25-37
Author(s):  
Bingjun Li ◽  
Xiaoxiao Zhu
Keyword(s):  
Decision Making ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Agriculture Industry ◽  
Parameter Interval ◽  
Grey Number ◽  
Index Weight ◽  
Decision Making Model ◽  
Grey Relational ◽  
Grey Relation

Purpose The purpose of this paper is to put forward the grey relational decision-making model of three-parameter interval grey number based on Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA), based on the previous study of grey relational decision-making model, and it considers the advantages of the decision-making schemes and the subjective preferences of decision makers. Design/methodology/approach First of all, through AHP, the preference of each index is analyzed and the index weight is determined. Second, the DEA model is adopted to obtain the index weight from the perspective of the most beneficial to each scheme and objectively reflect the advantages of different schemes. Then, assign the comprehensive weights to each index of the grey relational decision-making model of three-parameter interval grey number, and calculate the grey relation degree of each scheme to rank the schemes. Findings The effectiveness of the model is proved by an example of carrier aircraft selection. Practical implications The applicability of this model is analyzed by taking carrier aircraft selection as an example. In fact, this model can also be widely used in agriculture, industry, economy, society and other fields. Originality/value In this paper, the combination of AHP and DEA is used to determine the index weight. Based on which, the grey relation degree under the three-parameter interval grey number is calculated. It intended the application space of the grey relational decision-making model.

Stochastic interval-grey number VIKOR method based on prospect theory

2015 ◽  
Vol 5 (1) ◽  
pp. 105-116 ◽  
Author(s):  
Qingsheng LI ◽  
Ni Zhao
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Expected Utility Theory ◽  
Decision Makers ◽  
Vikor Method ◽  
Content Type ◽  
Multi Attribute Decision Making ◽  
Grey Number ◽  
Index Weight ◽  
Attribute Value

Purpose – The purpose of this paper is to deal with interval grey-stochastic multi-attribute decision-making problems. It proposes a VIKOR method based on prospect theory in which probabilities and the attribute value are both grey numbers. Design/methodology/approach – In the prospect theory the results values and probability weight are used while the utility and probability values in the expected utility theory, which the more realistically reflect and describe the decision makers on the optimal process. VIKOR method makes the decision acceptable superiority and decision process stability. At the same time, a new interval grey number entropy is put forward, which is used to calculate the index weight of unknown. Findings – The paper provides a VIKOR method based on prospect theory in which probabilities and the attribute value are both grey numbers. And the validity and feasibility of the method are illustrated by an example. Research limitations/implications – Although VIKOR is much closer to PIS than TOPSIS, at the same time VIKOR method can get the compromise solution with priority, researchers are encouraged to carry on comparative study further. Practical implications – The paper includes interval grey-stochastic multi-attribute decision-making method and implications. The validity and feasibility of the method are illustrated by a case. Originality/value – This paper proposes a VIKOR method based on prospect theory in which probabilities and the attribute value are both interval grey numbers. At the same time, a new interval grey number entropy is put forward, which is used to calculate the index weight of unknown.

Interval grey numbers based multi-attribute decision making method for supplier selection

Kybernetes ◽  
2014 ◽  
Vol 43 (7) ◽  
pp. 1064-1078 ◽  
Author(s):  
Naiming Xie ◽  
Jianghui Xin
Keyword(s):  
Decision Making ◽  
Supplier Selection ◽  
Decision Makers ◽  
Selection Problem ◽  
Content Type ◽  
Numerical Example ◽  
Possibility Degree ◽  
Multi Attribute Decision Making ◽  
Grey Number ◽  
Supplier Selection Problem

Purpose – The purpose of this paper is to study a novel grey possibility degree approach, which is combined with multi-attribute decision making (MADM) and applied MADM model for solving supplier selection problem under uncertainty information. Design/methodology/approach – The supplier selection problem is a typical MADM problem, in which information of a series of indexes should be aggregated. However, it is relatively easy for decision makers to define information in uncertainty, sometimes as a grey number, rather than a precise number. By transforming linguistic scale of rating supplier selection attributes into interval grey numbers, a novel grey MADM method is developed. Steps of proposed model were provided, and a novel grey possibility degree approach was proposed. Finally, a numerical example of supplier selection is utilized to demonstrate the proposed approach. Findings – The results show that the proposed approach could solve the uncertainty decision-making problem. A numerical example of supplier selection is utilized to demonstrate the proposed approach. The results show that the proposed method is useful to aggregate decision makers’ information so as to select the potential supplier. Practical implications – The approach constructed in the paper can be used to solving uncertainty decision-making problems that the certain value of the decision information could not collect while the interval value set could be defined. Obviously it can be utilized for other MADM problem. Originality/value – The paper succeeded in redefining interval grey number, constructing a novel interval grey number based MADM approach and providing the solution of the proposed approach. It is very useful to solving system forecasting problem and it contributed undoubtedly to improve grey decision-making models.

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