New Combined Weighting Model Based on Maximizing the Difference in Evaluation Results and Its Application

Meng, Bin; Chi, Guotai

doi:10.1155/2015/239634

Cited by 12 publications

(9 citation statements)

References 18 publications

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“…Determining the weights of the indicators plays an important role in achieving this goal. The relative importance of each indicator is reflected in its weight [ 33 , 34 ]. Generally, weighting methods in MCDM can be divided into three categories: subjective, objective, and combined.…”

Section: Methodsmentioning

confidence: 99%

Human error risk prioritization in crane operations based on CPT and ICWGT

2024

PLoS ONE

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Human error plays a significant role in crane safety. To increase the accuracy and rationality of human error risk prioritization for crane operations, this study proposes a risk prioritization model for human errors in crane operations based on the cumulative prospect theory (CPT) and the improved combination weighting model of game theory (ICWGT). The ICWGT integrates the risk-factor weights obtained via subjective and objective methods. Trapezoidal fuzzy numbers are used to describe experts’ uncertainty information. Then, the CPT is applied to handle the assessment of experts’ risk attitudes in the decision process. The human error risk ranking of crane operations is obtained according to the overall prospect values calculated using the CPT. A case study of human error in overhead crane operations was conducted, and sensitivity and comparison analyses confirmed the feasibility of the proposed model. The proposed ranking mechanism for human error risk priority in crane operations is helpful for crane risk management.

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Section: Methodsmentioning

confidence: 99%

Human error risk prioritization in crane operations based on CPT and ICWGT

2024

PLoS ONE

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“…For all the credit scoring models, the key point is to determine the weight of indicators. e existing weighting methods can be divided into three categories: subjective weight, objective weight, and combined weight [14].…”

Section: Review Of the Literaturementioning

confidence: 99%

An Optimal Credit Scoring Model Based on the Maximum Default Identification Ability for Chinese Small Business

Bai

Zhao

2022

Discrete Dynamics in Nature and Society

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The reasonable credit scoring model must have strong default identification ability, which means the credit scoring can effectively distinguish between defaulting and nondefaulting customers. The premise to determine the credit score of small enterprises is to determine the weight of indicators. This paper studies 3,045 Chinese small business loans, and two novel weighting methods “Wilks’ Lambda method” and “AUC value method” are proposed, The greater the weight they meet, the greater the ability of default identification. The five weighting methods of “Wilks’ lambda method,” “AUC value method,” “G1 method,” “entropy method,” and “mean square variance method” are compared. An important contribution of the paper is to discover that Wilks’ Lambda method is the most effective method for small business.

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“…By combining the advantages of subjective and objective weighting methods, this study proposes a combined weighting method. The combined weighting based on level difference maximization has been widely used in evaluation studies in various fields, and its rationality has been confirmed [ 22 – 25 ]. Therefore, this study proposes determining the combined weights of evaluation indicators based on level difference maximization.…”

Section: Introductionmentioning

confidence: 99%

Evaluation of PPP-ABS investment environment based on combined weighting of level difference maximization and TOPSIS method

Zhang,

Feng,

Feng

2023

PLoS ONE

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Asset-backed securitization (ABS) is currently used to refinance public-private partnership (PPP) projects in the infrastructure field. To stimulate the investors’ enthusiasm, this study evaluated the investment environment of PPP projects asset-backed securitization (PPP-ABS). Firstly, we established a PPP-ABS investment environment evaluation indicator system based on the literature review and the practice of PPP-ABS. Then, the optimal weights of each indicator were determined by the combined weighting of level difference maximization method, where the subjective weights were determined by the AHP method, and the objective weights were determined by the entropy method. Finally, we evaluated the PPP-ABS investment environment from 2015 to 2022 with the technique for order preference by similarity to ideal solution (TOPSIS) method. The final valuation results are consistent with the actual situation. The results showed that the PPP-ABS investment environment exhibits a stable and upward trend. Under the overall guidance of the government, the approval process, information disclosure and supervisory systems have continued to improve, the number of ABS products issued has continued to grow, and the overall market risk is controllable. However, some problems still need to be solved and improved, including inadequate accounting and tax systems, insufficient liquidity in the secondary market, and the recovery of economic development in the post-COVID-19 era. This study fills the research gap in PPP-ABS. It proves the rationality and feasibility of PPP-ABS and is expected to provide a reference for investors’ decision-making and promote the sustainable and healthy development of PPP-ABS.

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New Combined Weighting Model Based on Maximizing the Difference in Evaluation Results and Its Application

Cited by 12 publications

References 18 publications

Human error risk prioritization in crane operations based on CPT and ICWGT

Human error risk prioritization in crane operations based on CPT and ICWGT

An Optimal Credit Scoring Model Based on the Maximum Default Identification Ability for Chinese Small Business

Evaluation of PPP-ABS investment environment based on combined weighting of level difference maximization and TOPSIS method

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