A Three-Way Decision Methodology With Regret Theory via Triangular Fuzzy Numbers in Incomplete Multiscale Decision Information Systems

Zhan, Jianming; Deng, Jiang; Zhang, Xu; Martínez, Luis

doi:10.1109/tfuzz.2023.3237646

Cited by 61 publications

(4 citation statements)

References 46 publications

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“…Some theories related to investor behavior theory, among others, are: Regret Theory, this theory is a development of previous decision-making theories, namely prospect theory and expected usability theory (Wang et al, 2023;Huang et al, 2023;Zhan et al, 2023;Mondal et al, 2023;Harrison & Swarthout, 2023). This theory basically deals with the reaction of a person's emotional experience who realizes that they have made an error in judgment.…”

Section: Investor Behavior Theorymentioning

confidence: 99%

Successful Surfing in Capital Market: Phenomenological Study of Indonesian “Warren Buffett”

Denie,

Surachman,

Indrawati

et al. 2024

RGSA

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Objective: The purpose of this study is to uncover the successful secrets of a No. 1 individual investor on the Indonesian stock exchange who has proven to earn huge amounts of profits. Theoretical Framework: Some theories related to investor behavior theory, among others, are: Regret Theory, this theory is a development of previous decision-making theories, namely prospect theory and expected usability theory. Method: This research explores the philosophy, behavior, strategies, techniques, and ways to find stocks that can provide great returns based on the experience of an individual investor. This research also examines in depth the experience of a famous investor named Lo Kheng Hong (LKH), known as Warren Buffett of Indonesia. Results and Discussion: The results showed that the factors that support the success of LKH in investing in the IDX can be: (1) reading the company's financial statements; (2) analyzing financial data; considering the integrity of its owners and management; (3) investing by buying shares on the IDX; (4) daring to make decisions to buy shares based on their own analysis; (5) patiently waiting; (6) simple to live their lives and frugal. Research Implications: One of the secrets of success, the strategy in finding stocks that provide big profits is to read and look at financial statements, analyze deeply using simple fundamental analysis, look for stocks that are undervalued. Originality/Value: This study contributes to literatures regarding how to be successful investor in stock market.

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Section: Investor Behavior Theorymentioning

confidence: 99%

Successful Surfing in Capital Market: Phenomenological Study of Indonesian “Warren Buffett”

Denie,

Surachman,

Indrawati

et al. 2024

RGSA

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“…Compared to other uncertainty handling methods such as probability distributions, interval analysis, and stochastic processes, triangular fuzzy numbers exhibit several distinct advantages. These advantages include the following [29][30][31]:…”

Section: Triangular Fuzzy Numbersmentioning

confidence: 99%

Multi-Objective Disassembly Sequence Planning in Uncertain Industrial Settings: An Enhanced Water Wave Optimization Algorithm

Fan,

Zhan,

Aljuaid

2023

Processes

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Disassembly plays a pivotal role in the maintenance of industrial equipment. However, the intricate nature of industrial machinery and the effects of wear and tear introduce inherent uncertainty into the disassembly process. The inadequacy in representing this uncertainty within equipment maintenance disassembly has posed an ongoing challenge in contemporary research. This study centers on disassembly sequence planning (DSP) in the context of industrial equipment maintenance, with a primary aim to mitigate the adverse effects of uncertainty. To effectively address this challenge, we introduce a multi-objective DSP problem and utilize triangular fuzzy numbers from fuzzy logic to manage uncertainty throughout the disassembly process. Our objectives encompass minimizing disassembly time, reducing tool changes and directional reversals, and improving responsiveness to emergency maintenance needs. Recognizing the complexities of this problem, we present an innovative multi-objective enhanced water wave optimization (EWWO) algorithm, integrating propagation, refraction, and breaking wave operators alongside novel local search strategies. Through rigorous validation with real-world industrial cases, we not only demonstrate the algorithm’s potential in solving disassembly maintenance challenges but also underscore its exceptional performance in producing high-quality and efficient solutions. In comparison to other algorithms, EWWO provides significant advantages in multi-objective evaluation metrics, including Hypervolume (HV), Spread, and CPU time. Moreover, the application of triangular fuzzy numbers offers a comprehensive evaluation of solutions, empowering decision makers to make informed choices in diverse scenarios. Our findings lead to the conclusion that this research provides substantial support for addressing uncertainty in the field of industrial equipment maintenance, with the potential to significantly enhance the efficiency and quality of disassembly maintenance processes.

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“…van Dijk and Zeelenberg (2002) concluded that even closely related emotions such as regret and disappointment have distinctive effects on DMs' decision behaviors: the experience of disappointment makes people feel more powerless than the experience of regret; compared with regret, disappointment is more related to other person agency and circumstances agency but less related to self-agency. Most of the extant models (Zhao et al, 2022;Zhan et al, 2023) considering DMs' bounded rational behaviors applied the regret theory (RT) to reflect the influence of psychology of regret aversion on decision results, but ignored psychology of disappointment aversion, which may lead to biases of ranking results of alternatives. How to avoid the influence of regret aversion and disappointment aversion of DMs on decision results is a problem worthy of study.…”

Section: Introductionmentioning

confidence: 99%

Large-Scale Emergency Supplier Selection Considering Limited Rational Behaviors of Decision Makers and Ranking Robustness

Li,

Liao,

Baušys

et al. 2024

Technological and Economic Development of Economy

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Selecting emergency suppliers from a wide range of candidates based on their performance under each criterion can be regarded as a multi-criterion decision making (MCDM) problem. Existing MCDM models to solve the emergency supplier selection problem ignored situations where large-scale suppliers exist, the influence of criteria weights on the robustness of ranking results, and the influence of psychology of regret aversion and disappointment aversion on decision results. To make up for these deficiencies, this paper proposes an MCDM model to solve emergency supplier selection problem with large-scale alternatives. Firstly, to avoid the influence of criteria weights on ranking of alternatives, the Robustness, Correlation, and Standard Deviation (ROCOSD) method is introduced to determine objective weights of criteria based on three objectives. Secondly, the τ-balanced clustering method is applied to cluster large-scale alternatives into balanced clusters. Next, considering the psychology of regret aversion and disappointment aversion of decision makers, a two-stage method is proposed to rank alternatives, which identifies the optimal alternative within each cluster and forms a new cluster consisting of these optimal alternatives in the first stage, and selects the optimal alternative from the new-formed cluster in the second stage. A numerical case is given to validate the proposed model.

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A Three-Way Decision Methodology With Regret Theory via Triangular Fuzzy Numbers in Incomplete Multiscale Decision Information Systems

Cited by 61 publications

References 46 publications

Successful Surfing in Capital Market: Phenomenological Study of Indonesian “Warren Buffett”

Successful Surfing in Capital Market: Phenomenological Study of Indonesian “Warren Buffett”

Multi-Objective Disassembly Sequence Planning in Uncertain Industrial Settings: An Enhanced Water Wave Optimization Algorithm

Large-Scale Emergency Supplier Selection Considering Limited Rational Behaviors of Decision Makers and Ranking Robustness

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