Game Theory Based Multi Criteria Decision Making Problem Under Uncertainty: A Case Study on Indian Tea Industry

Abstract

The long-term evolution of multi agent multi criteria decision making (MCDM) and to obtain sustainable decision a novel methodology is proposed based on evolutionary game theory. In this paper multi agent MCDM is represented as an evolutionary game and the evolutionary strategies are defined as sustainable decisions. Here we consider the problem of decision making in Indian Tea Industry. The agents in this game are essentially Indian Tea Estate owner and Indian Tea board. The replicator dynamics of the evolutionary game are studied to obtain evolutionary strategies which could be defined as sustainable strategies. The multi agent MCDM in Indian Tea Industry is considered under different socio-political and Corporate Social Responsibility scenario and groups of Indian Tea Industry. Again, the impacts of imprecision and market volatility on the outcome of some strategies (decisions) are studied. In this paper the imprecision on the impact of the strategies are modelled as fuzzy numbers whereas the market volatility is taken into account as white noise. Hence the MCDM problem for Indian Tea Industry is modelled as a hybrid evolutionary game. The probabilities of strategies are obtained by solving hybrid evolutionary game and could be represented as a Dempster-Shafer belief structure. The simulation results facilitate the Decision Makers to choose the strategies (decisions) under different type of uncertainty.

A new method to measure the divergence in evidential sensor data fusion

“…Calculate the information volume of each evidence. where E d is the Deng entropy of the evidence, which is calculated by equation (6).…”

“…Multi-sensor data fusion technology is widely used in real world, 1,2 playing an important part in multi-sensor data fusing, [3][4][5] decision-making, 6,7 fault diagnosis, [8][9][10][11] risk and reliability analyzing, [12][13][14][15][16] failure mode and effective analyses, 12,17 and pattern recognition. 18,19 Due to the invertible influence from the bad weather or sensor fault, uncertain and inaccurate information may emerge and then cause an incorrect conclusion in decision-making.…”

Problems of Harmony in the Development of Socio-economic Systems

“…The options for determining were discussed earlier. Recently, multicriteria methods have been widely used for this (Ginevicius et al, 2018 a, b;Keshavarz, 2015;Debnath et al, 2018;Ginevicius et al, 2018b;Ginevicius, 2009). In this way, two stages of SES development SD assessment can be identified.…”

An Integrated Picture Fuzzy Anp-Todim Multi-Criteria Decision-Making Approach for Tourism Attraction Recommendation

“…Hence, FSs cannot truly describe inconsistent information in such problems. In order to overcome this shortcoming, intu-itionistic fuzzy sets (IFSs) (Atanassov, 1986) and their extensions, which can be represented as membership and non-membership, have recently attracted scholars' attention, and have been extensively applied to MCDM problems as well (Liu & Wang, 2007;Xu, 2007;Wang & Liu, 2012;Wang, Han, & Zhang, 2014;Yu, J. Wang, & J. Q. Wang, 2018;Hu, Zhang, Yang, Liu, & Chen, 2018;Debnath, Bandyapadhyay, Roy, & Kar, 2018;Chatterjee & Kar, 2018a, 2018b. In particular, entropy, cross-entropy and similarity measures for IFSs have been utilized to deal with MCDM problems in an uncertain environment (Li & Cheng, 2002;Yang, Gong, Wang, & An, 2014;Mishra, Jain, & Hooda, 2017;Joshi, Kumar, Gupta, & Kaur, 2017;Ngan, Son, Cuong, & Ali, 2018;Shen, Li, & Wang, 2019).…”