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Article

A Method of Hybrid Multiple Attributes Group Decision Making with Risk Considering Decision-Makers' Confidence

by
Xingzi Wen
1,*,
Junlin Ouyang
2 and
Youjin Liu
1
1
College of Business, Hunan University of Science and Technology, Xiangtan, Hunan, 411201, PR China
2
College of Computer, South East University, Nanjing, Jiangshu, 210000, PR China
*
Author to whom correspondence should be addressed.
Math. Comput. Appl. 2015, 20(1), 62-75; https://doi.org/10.3390/mca20010075
Published: 1 April 2015
Versions Notes

Abstract

With respect to different confidence on evaluation result from different decision-makers to the hybrid multi-attribute with risk, an approach to group decision- making based on prospect theory and projection theory is proposed. Firstly, a tuple is established to record the evaluation result and the hybrid decision information. Then the element of the tuple is changed into a single triangular fuzzy number by the transformation rule. Considering the confidence degree from single decision-maker to evaluation information, the group decision information is aggregated and the weights of attributes are calculated based on the intuitionistic fuzzy set theory. The improved projection method and prospect theory are proposed to rank the alternatives respectively. Finally, an application case is given to demonstrate the effectiveness and feasibility of the proposed approach.
Keywords: Confidence; Prospect theory; Projection method; Intuitionistic fuzzy set; Multi-attribute group decision-making Confidence; Prospect theory; Projection method; Intuitionistic fuzzy set; Multi-attribute group decision-making

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MDPI and ACS Style

Wen, X.; Ouyang, J.; Liu, Y. A Method of Hybrid Multiple Attributes Group Decision Making with Risk Considering Decision-Makers' Confidence. Math. Comput. Appl. 2015, 20, 62-75. https://doi.org/10.3390/mca20010075

AMA Style

Wen X, Ouyang J, Liu Y. A Method of Hybrid Multiple Attributes Group Decision Making with Risk Considering Decision-Makers' Confidence. Mathematical and Computational Applications. 2015; 20(1):62-75. https://doi.org/10.3390/mca20010075

Chicago/Turabian Style

Wen, Xingzi, Junlin Ouyang, and Youjin Liu. 2015. "A Method of Hybrid Multiple Attributes Group Decision Making with Risk Considering Decision-Makers' Confidence" Mathematical and Computational Applications 20, no. 1: 62-75. https://doi.org/10.3390/mca20010075

APA Style

Wen, X., Ouyang, J., & Liu, Y. (2015). A Method of Hybrid Multiple Attributes Group Decision Making with Risk Considering Decision-Makers' Confidence. Mathematical and Computational Applications, 20(1), 62-75. https://doi.org/10.3390/mca20010075

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