Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback
Joint Authors
Song, Yan
Yao, Hao
Yao, Shuang
Yu, Donghua
Shen, Yan
Source
Mathematical Problems in Engineering
Issue
Vol. 2017, Issue 2017 (31 Dec. 2017), pp.1-12, 12 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2017-05-25
Country of Publication
Egypt
No. of Pages
12
Main Subjects
Abstract EN
The assessment of risky linguistic variables has significant applications in multiattribute group decision problems.
This paper focuses on risky multicriteria group decision making using linguistic variable assessment and proposes a new model which considers various and differential psychological behavior and the ambiguity of linguistic variable assessment across multicriteria risks.
Based on the cloud prospect value assessment, this paper proposes a cloud prospect value aggregation method and consensus degree measurement.
An improved feedback adjustment mechanism based on regret theory is employed as the consistency model, which complements prospect theory.
The three theoretical methods together constitute the core elements of the proposed CPD (cloud prospect value consensus degree decision) model.
The feasibility and validity of the new decision making model are demonstrated with a numerical example, and feedback performance was compared with conventional direct feedback.
The proposed CPD approach satisfies given consistency threshold of 0.95 and 0.98 after three and four feedback loops, respectively.
Compared to the proposed CPD method, direct feedback approach needs seven and ten feedback loops under the same threshold, respectively, which shows that the proposed model increases efficiency and accuracy of group decision making and significantly reduces time cost.
American Psychological Association (APA)
Song, Yan& Yao, Hao& Yao, Shuang& Yu, Donghua& Shen, Yan. 2017. Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback. Mathematical Problems in Engineering،Vol. 2017, no. 2017, pp.1-12.
https://search.emarefa.net/detail/BIM-1192764
Modern Language Association (MLA)
Song, Yan…[et al.]. Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback. Mathematical Problems in Engineering No. 2017 (2017), pp.1-12.
https://search.emarefa.net/detail/BIM-1192764
American Medical Association (AMA)
Song, Yan& Yao, Hao& Yao, Shuang& Yu, Donghua& Shen, Yan. Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback. Mathematical Problems in Engineering. 2017. Vol. 2017, no. 2017, pp.1-12.
https://search.emarefa.net/detail/BIM-1192764
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1192764