Click for new scientific resources and news about Corona[COVID-19]

Paper Information

Journal:   SCIENTIA IRANICA   2014 , Volume 21 , Number 3 (TRANSACTIONS E: INDUSTRIAL ENGINEERING); Page(s) 1105 To 1119.
 
Paper: 

RESEARCH ON THE STOCHASTIC HYBRID MULTI-ATTRIBUTE DECISION MAKING METHOD BASED ON PROSPECT THEORY

 
 
Author(s):  YU H., LIU P.*, JIN F.
 
* SCHOOL OF MANAGEMENT SCIENCE AND ENGINEERING, SHANDONG UNIVERSITY OF FINANCE AND ECONOMICS, JINAN SHANDONG 250014, CHINA
 
Abstract: 

With respect to stochastic hybrid multi-attribute decision making problems with interval probability and unknown attribute weight, a multi-attribute decision making method, based on the prospect theory, is proposed. To begin with, the hybrid attribute values, including real numbers, interval numbers, triangular fuzzy numbers, linguistic variables, uncertain linguistic variables and intuitionistic fuzzy values are converted to trapezoidal fuzzy numbers, and interval probability is expressed by trapezoidal fuzzy probability. The prospect value function of the trapezoidal fuzzy numbers for every alternative, under every attribute, and every natural state, based on the decision-making reference point of each attribute and the weight function of trapezoidal fuzzy probability, is constructed, and, then, the prospect value of the attribute for every alternative is calculated through the prospect value function and the weight function. Then, a maximizing deviation method is used to determine the attribute weights and the weighted prospect value of the alternative is obtained by weighing the prospect values. All the alternatives are ranked according to the expected values of the weighted prospect values. Finally, an illustrate example is given to show the decision-making steps, and the inuence on decision making of dierent parameter values in value and weight functions and dierent decision-making reference points.

 
Keyword(s): PROSPECT THEORY, INTERVAL PROBABILITY, UNCERTAIN LINGUISTIC VARIABLES, HYBRID DECISION MAKING, STOCHASTIC DECISIONMAKING, MULTI-ATTRIBUTE DECISION-MAKING
 
 
References: 
  • ندارد
  •  
 
Click to Cite.
APA: Copy

YU, H., & LIU, P., & JIN, F. (2014). RESEARCH ON THE STOCHASTIC HYBRID MULTI-ATTRIBUTE DECISION MAKING METHOD BASED ON PROSPECT THEORY. SCIENTIA IRANICA, 21(3 (TRANSACTIONS E: INDUSTRIAL ENGINEERING)), 1105-1119. https://www.sid.ir/en/journal/ViewPaper.aspx?id=406403



Vancouver: Copy

YU H., LIU P., JIN F.. RESEARCH ON THE STOCHASTIC HYBRID MULTI-ATTRIBUTE DECISION MAKING METHOD BASED ON PROSPECT THEORY. SCIENTIA IRANICA. 2014 [cited 2021May12];21(3 (TRANSACTIONS E: INDUSTRIAL ENGINEERING)):1105-1119. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=406403



IEEE: Copy

YU, H., LIU, P., JIN, F., 2014. RESEARCH ON THE STOCHASTIC HYBRID MULTI-ATTRIBUTE DECISION MAKING METHOD BASED ON PROSPECT THEORY. SCIENTIA IRANICA, [online] 21(3 (TRANSACTIONS E: INDUSTRIAL ENGINEERING)), pp.1105-1119. Available: https://www.sid.ir/en/journal/ViewPaper.aspx?id=406403.



 
  pdf-File
Yearly Visit 47
 
Latest on Blog
Enter SID Blog