Consensus building in multiperson decision making with heterogeneous preference representation structures: A perspective based on prospect theory

Dong, Yucheng; Luo, Nan; Liang, Haiming

doi:10.1016/j.asoc.2015.03.013

Cited by 72 publications

(38 citation statements)

References 72 publications

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“…The prospect theory works on 3 main principles: Reference dependence: The profit and loss values are determined across the reference point as shown in Figure . Thus, prospect value function is used to determine the gain domain and loss domain with respect to the reference point. Diminishing sensitivity: When people got loss, they tend to be “risk seeking” and when people got gain, they tend to be “risk averse.” According to this principle, the value function has concave and convex S ‐shape for gain and loss, respectively, i.e., with the increasing in size, the marginal value of both loss, and gain is decreased. Loss aversion: Prospect theory considers that people's attitude toward gain and loss is not same.…”

Section: Network Selection Methodsmentioning

confidence: 99%

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Improved network selection for multimedia applications

Munjal

Singh

2016

Trans. Emerging Tel. Tech.

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Fifth generation mobile networks are being developed to compensate the explosive growth of data traffic and shortage of spectrum. Fifth generation networks consist of multi‐tier heterogeneous network in which multi cells and multi networks are involved. The heterogeneity of different classes of base station improves spectral efficiency and provides flexible coverage area. Hence, in the heterogeneous network environment, deciding to which one mobile should connect is called network selection problem. In this paper, network selection problem in heterogeneous network is simulated by multi attribute decision making algorithm, game theory, and prospect theory. Prospect theory is new in the field of network selection. The weights for different network attributes are computed by analytical hierarchical process, standard deviation, and entropy method. The 4 different applications, i.e., video, voice, web browsing, and email transfer are considered for which available bandwidth, packet jitter, packet loss, and cost per byte are taken as most important attributes, respectively. The weights for different applications are calculated by analytical hierarchical process method. The selection is done in environment composed of heterogeneous networks such as Wi‐Fi, WiMAX, WLAN, LTE, UMTS, and GPRS. So different networks are selected for different applications because only 1 network cannot fulfill the requirement of the all applications. The performance of different methods is shown in relative standard deviation and accuracy. Prospect theory gives the maximum values of relative standard deviation and accuracy.

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Section: Network Selection Methodsmentioning

confidence: 99%

“…The prospect theory was proposed to overcome the drawback of expected utility theory . It is a behavioral economic theory that is used for decision making under risk .…”

Section: Related Workmentioning

confidence: 99%

Improved network selection for multimedia applications

Munjal

Singh

2016

Trans. Emerging Tel. Tech.

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“…Consensus can be defined as [9] "a state of mutual agreement among members of a group in which the decision made satisfies all of them". Therefore, a consensus process requires that experts modify their opinions making them closer to each other and this way to obtain a collective opinion that is satisfactory for all of them [10,[31][32][33][34].…”

Section: Consensus Reaching Processesmentioning

confidence: 99%

Managing Non-Homogeneous Information and Experts’ Psychological Behavior in Group Emergency Decision Making

et al. 2017

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Abstract:After an emergency event (EE) happens, emergency decision making (EDM) is a common and effective way to deal with the emergency situation, which plays an important role in mitigating its level of harm. In the real world, it is a big challenge for an individual emergency manager (EM) to make a proper and comprehensive decision for coping with an EE. Consequently, many practical EDM problems drive group emergency decision making (GEDM) problems whose main limitations are related to the lack of flexibility in knowledge elicitation, disagreements in the group and the consideration of experts' psychological behavior in the decision process. Hence, this paper proposes a novel GEDM approach that allows more flexibility for preference elicitation under uncertainty, provides a consensus process to avoid disagreements and considers experts' psychological behavior by using the fuzzy TODIM method based on prospect theory. Eventually, a group decision support system (GDSS) is developed to support the whole GEDM process defined in the proposed method demonstrating its novelty, validity and feasibility.

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“…Chen et al [6] presented a method for GDM using group recommendations based on interval fuzzy preference relations and consistency matrices. A hybrid framework considering decision makers' psychological behavior based on prospect theory was proposed for GDM with heterogeneous preference relations [10] . In general, using different preference representation structures often yields different GDM models [12] .…”

Section: Introductionmentioning

confidence: 99%

Consensus building in group decision making based on multiplicative consistency with incomplete reciprocal preference relations

Zhang

Jiang

et al. 2016

Knowledge-Based Systems

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Consensus building in multiperson decision making with heterogeneous preference representation structures: A perspective based on prospect theory

Abstract: Please cite this article in press as: Y. Dong, et al., Consensus building in multiperson decision making with heterogeneous preference representation structures: A perspective based on prospect theory, Appl. Soft Comput. J. (2015), http://dx.

Cited by 72 publications

References 72 publications

Improved network selection for multimedia applications

Improved network selection for multimedia applications

Managing Non-Homogeneous Information and Experts’ Psychological Behavior in Group Emergency Decision Making

Consensus building in group decision making based on multiplicative consistency with incomplete reciprocal preference relations

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