2021
DOI: 10.3846/tede.2021.15038
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An Enhancement Edas Method Based on Prospect Theory

Abstract: Decision-making is the process of carefully considering multiple options and choosing the best one. The EDAS (evaluation based on distance from average solution) method has been studied in many multi-attributes decision-making (MADM) problem which assumes decisionmaking under absolute rationality. However, people usually show the characteristics of bounded rationality in the real decision-making process. Prospect theory (PT) utilizes gains and losses relative to the reference point to explain this phenomenon b… Show more

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Cited by 75 publications
(18 citation statements)
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“…In 1965, Zadeh [1] proposed the fuzzy sets (FSs) to fuse information in the fuzzy information domain [2][3][4][5][6]. To extend the FSs, the intuitionistic fuzzy sets (IFSs) [7] were also proposed.…”
Section: Introductionmentioning
confidence: 99%
“…In 1965, Zadeh [1] proposed the fuzzy sets (FSs) to fuse information in the fuzzy information domain [2][3][4][5][6]. To extend the FSs, the intuitionistic fuzzy sets (IFSs) [7] were also proposed.…”
Section: Introductionmentioning
confidence: 99%
“…Step 5. Calculate the SVNN composite distance matrix (SVNNCDM): Firstly, the distance of each alternative from other given alternatives is obtained through (9):…”
Section: Svnn-taxonomy Methods For Magdm With Critic Weightmentioning
confidence: 99%
“…Decision-making is a very common phenomenon which ranges from personal clothing, housing, and transportation to national policy formulation and is closely related to people's lives [1][2][3][4][5]. Among them, multi-attribute decisionmaking (MADM) means that under many di erent requirements and criteria, the plan to be selected needs to be evaluated by decision-makers or corresponding experts and scholars, and the most suitable decision-making plan isnally selected through scienti c methods [6][7][8][9][10]. As an important part of modern decision science, multi-attribute decision-making has been favored by many scholars and experts and its methods and theories have been applied to many practical elds such as politics, business, environment, and energy [11][12][13][14].…”
Section: Introductionmentioning
confidence: 99%
“…EDAS is an MCDM method that evaluates the alternatives (i.e., features) using two measures: (i) positive distance from average (PDA) and (ii) negative distance from average (NDA) [70][71][72]. e best alternative has the highest PDA value or lowest NDA value.…”
Section: Evaluation Based On Distance From Average Solution (Edas) Me...mentioning
confidence: 99%