scholarly journals A DECISION-MAKING FRAMEWORK BASED ON THE PROSPECT THEORY UNDER AN INTUITIONISTIC FUZZY ENVIRONMENT

2018 ◽  
Vol 24 (6) ◽  
pp. 2374-2396 ◽  
Author(s):  
Jing Gu ◽  
Zijian Wang ◽  
Zeshui Xu ◽  
Xuezheng Chen
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Value Function ◽  
Behavior Pattern ◽  
Weighting Function ◽  
Intuitionistic Fuzzy ◽  
Fuzzy Environment ◽  
Decision Making Framework ◽  
Decision Making Behavior ◽  
The Value Function

Uncertainty and ambiguity are frequently involved in the decision-making process in our daily life. This paper develops a generalized decision-making framework based on the prospect theory under an intuitionistic fuzzy environment, by closely integrating the prospect theory and the intuitionistic fuzzy sets into our framework. We demonstrate how to compute the intuitionistic fuzzy prospect values as the reference values for decision-making and elaborate a four-step editing phase and a valuation phase with two key functions: the value function and the weighting function. We then conduct experiments to test our decision- making methodology and the key features of our framework. The experimental results show that the shapes of the value function and the weighting function in our framework are in line with those of prospect theory. The methodology proposed in this paper to elicit prospects that are not only under uncertainty but also under ambiguity. We reveal the decision-making behavior pattern through comparing the parameters. People are less risk averse when making decisions under an intuitionistic fuzzy environment than under uncertainty. People still underestimate the probability of the events in our experiment. Further, the choices of participants in the experiments are consistent with the addition and multiplication principles of our framework.

scholarly journals Trapezoidal Intuitionistic Fuzzy Multiattribute Decision Making Method Based on Cumulative Prospect Theory and Dempster-Shafer Theory

2014 ◽  
Vol 2014 ◽  
pp. 1-8 ◽  
Author(s):  
Xihua Li ◽  
Fuqiang Wang ◽  
Xiaohong Chen
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Value Function ◽  
Cumulative Prospect Theory ◽  
Intuitionistic Fuzzy Numbers ◽  
Attribute Weight ◽  
Intuitionistic Fuzzy ◽  
Dempster Shafer Theory ◽  
Fuzzy Environment ◽  
Shafer Theory

With respect to decision making problems under uncertainty, a trapezoidal intuitionistic fuzzy multiattribute decision making method based on cumulative prospect theory and Dempster-Shafer theory is developed. The proposed method reflects behavioral characteristics of decision makers, information fuzziness under uncertainty, and uncertain attribute weight information. Firstly, distance measurement and comparison rule of trapezoidal intuitionistic fuzzy numbers are used to derive value function under trapezoidal intuitionistic fuzzy environment. Secondly, the value function and decision weight function are used to calculate prospect values of attributes for each alternative. Then considering uncertain attribute weight information, Dempster-Shafer theory is used to aggregate prospect values for each alternative, and overall prospect values are obtained and thus the alternatives are sorted consequently. Finally, an illustrative example shows the feasibility of the proposed method.

A two-sided matching decision-making approach based on regret theory under intuitionistic fuzzy environment

2021 ◽  
pp. 1-18
Author(s):  
Xiang Jia ◽  
Xinfan Wang ◽  
Yuanfang Zhu ◽  
Lang Zhou ◽  
Huan Zhou
Keyword(s):  
Decision Making ◽  
Hamming Distance ◽  
Optimal Solution ◽  
Intuitionistic Fuzzy Sets ◽  
Regret Theory ◽  
Multi Objective ◽  
Intuitionistic Fuzzy ◽  
Fuzzy Environment ◽  
Objective Model ◽  
Single Objective

This study proposes a two-sided matching decision-making (TSMDM) approach by combining the regret theory under the intuitionistic fuzzy environment. At first, according to the Hamming distance of intuitionistic fuzzy sets and regret theory, superior and inferior flows are defined to describe the comparative preference of subjects. Hereafter, the satisfaction degrees are obtained by integrating the superior and inferior flows of the subjects. The comprehensive satisfaction degrees are calculated by aggregating the satisfaction degrees, based on which, a multi-objective TSMDM model is built. Furthermore, the multi-objective TSMDM model is converted to a single-objective model, the optimal solution of the latter is derived. Finally, an illustrative example and several analyses are provided to verify the feasibility and the effectiveness of the proposed approach.

Developing a Systematic Decision-Making Framework: Bureaucratic Politics in Perspective

1981 ◽  
Vol 33 (2) ◽  
pp. 234-252 ◽  
Author(s):  
Jerel A. Rosati
Keyword(s):  
Decision Making ◽  
Policy Making ◽  
Executive Branch ◽  
Bureaucratic Politics ◽  
Theory Building ◽  
Decision Making Process ◽  
Decision Context ◽  
Policy Application ◽  
Decision Making Framework ◽  
Decision Making Behavior

The bureaucratic politics model has achieved great popularity in the study of decision making. Yet too often the term “bureaucratic politics” is used by scholars and practitioners without clearly stating its policy application. The decision-making behavior that occurred during the Johnson and Nixon administrations for SALT I serves to illustrate many of the limits of the model. First, the decision-making structure posited by the bureaucratic politics model is not nearly as prevalent within the executive branch as is commonly assumed. Second, even where the bureaucratic politics structure is present, the decision-making process is not always one of bargaining, compromise, and consensus. Finally, the decision context and the decision participants are ignored in the model. To provide a clearer understanding of policy-making behavior, a more systematic decision-making framework is offered, which should contribute to the development of better model- and theory-building.

New Einstein Hybrid Aggregation Operators for Intuitionistic Fuzzy Sets and Applications in Multi-Criteria Decision-Making

2019 ◽  
pp. 252-283
Author(s):  
Bhagawati Prasad Joshi ◽  
Abhay Kumar
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Decision Maker ◽  
Intuitionistic Fuzzy Sets ◽  
Aggregation Operators ◽  
Weighted Averaging ◽  
Multi Criteria Decision Making ◽  
Intuitionistic Fuzzy ◽  
Fuzzy Environment ◽  
Decision Making Processes

The fusion of multidimensional intuitionistic fuzzy information plays an important part in decision making processes under an intuitionistic fuzzy environment. In this chapter, it is observed that existing intuitionistic fuzzy Einstein hybrid aggregation operators do not follow the idempotency and boundedness. This leads to sometimes illogical and even absurd results to the decision maker. Hence, some new intuitionistic fuzzy Einstein hybrid aggregation operators such as the new intuitionistic fuzzy Einstein hybrid weighted averaging (IFEHWA) and the new intuitionistic fuzzy Einstein hybrid weighted geometric (IFEHWG) were developed. The new IFEHWA and IFEHWG operators can weigh the arguments as well as their ordered positions the same as the intuitionistic fuzzy Einstein hybrid aggregation operators do. Further, it is validated that the defined operators are idempotent, bounded, monotonic and commutative. Then, based on the developed approach, a multi-criteria decision-making (MCDM) procedure is given. Finally, a numerical example is conducted to demonstrate the proposed method effectively.

scholarly journals The Interval-Valued Intuitionistic Fuzzy Optimized Weighted Bonferroni Means and Their Application

2013 ◽  
Vol 2013 ◽  
pp. 1-10 ◽  
Author(s):  
Ya-ming Shi ◽  
Jian-min He
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Practical Case ◽  
Basic Properties ◽  
Bonferroni Mean ◽  
Intuitionistic Fuzzy ◽  
Fuzzy Environment ◽  
Aggregation Techniques ◽  
Interval Valued

We investigate and propose two new Bonferroni means, that is, the optimized weighted BM (OWBM) and the generalized optimized weighted BM (GOWBM), whose characteristics are to reflect the preference and interrelationship of the aggregated arguments and can satisfy the basic properties of the aggregation techniques simultaneously. Further, we propose the interval-valued intuitionistic fuzzy optimized weighted Bonferroni mean (IIFOWBM) and the generalized interval-valued intuitionistic fuzzy optimized weighted Bonferroni mean (GIIFOWBM) and detailed study of their desirable properties such as idempotency, monotonicity, transformation, and boundary. Finally, based on IIFOWBM and GIIFOWBM, we give an approach to group decision making under the interval-valued intuitionistic fuzzy environment and utilize a practical case involving the assessment of a set of agroecological regions in Hubei Province, China, to illustrate the developed methods.

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