A Method for Multi-attribute Decision Making Under Uncertainty Using Evidential Reasoning and Prospect Theory

Abstract

In this paper, a method for multi-attribute decision making under uncertainty is proposed, the uncertainty is represented by certitude structure. In fact, there are both quantitative and qualitative attributes with different representation in multi-attribute decision making under uncertainty, so the certitude structure transformation method is the first contribution of this paper. Secondly, the prospect value vector for each alternative on each attribute is calculated based on prospect theory. Thirdly, the combination decision prospect value of each alternative is given according to evidential reasoning approach under certitude degree. Then a ranking of alternatives can be determined using the combination decision prospect values. Finally, two illustration examples are used to illustrate the use of this multi-attribute decision making method, as well as demonstrate its high performance by comparing with the existing approaches.

A multi-attribute decision making method based on the third generation prospect theory and grey correlation degree

“…Shortliffe and Buchanan [37] proposed certainty factor for MYCIN expert system. Based on the MYCIN certainty factor, a new form called belief structure is proposed by Jin [27]. Belief structures are used to describe the uncertainty of events and the uncertainty of human perceptions.…”

“…Identity value can be numerical, fuzzy numbers, linguistic variables, etc., and Jin et al [27] [38]), and the method of transforming the interval value is also proposed. According to the above two points, the method of transforming the LIFNs is proposed.…”

“…Wu et al [26] evaluated renewable power sources based on CPT. Jin et al [27] proposed a method for MADM under uncertainty using evidential reasoning and PT. Zhang [28] proposed different situational emergency decision-making methods based on game theory and PT.…”

Multi-adjoint based group decision-making under an intuitionistic fuzzy information system

“…More recently, Ren and Wei 21 developed a correctional score function of dual hesitant fuzzy elements to solve multi-attribute decision-making problems in which the attributes were in different priority levels. Considering the attribute values are hybrid types, Jin 22 introduced certitude structure to tackle with such MAGDM problems. Zhu 23 defined t-norms and tconorms products to construct AND− f p f s decision making and OR − f p f s decision making methods.…”