Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback

Yan, Shuicheng; Yao, Hao; Yao, Shuang; Yu, Dunshan; Shen, Yan

doi:10.1155/2017/9646303

Cited by 11 publications

(3 citation statements)

References 41 publications

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“…The authors in [20] also used regret theory without considering rejoice. They proposed a model that considers various psychological behaviors and the ambiguity of linguistic variable assessment across multi-criteria risks.…”

Section: Overview Of Regret and Rejoice In Mcdmmentioning

confidence: 99%

Multi-Attribute Selection Procedures Based on Regret and Rejoice for the Decision-Maker

Mengash¹,

Ayadi²

2022

Computers, Materials &Amp; Continua

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Feelings influence human beings' decision-making; therefore, incorporation of feeling factors in decision-making is very important. Regret and rejoice are very important emotional feelings that can have a great impact on decision-making if they are considered together. While regret has received most of the attention in related research, rejoice has been less considered even though it can greatly influence people's preferences in decision-making. Furthermore, systematically incorporating regret and rejoice in the multicriteria decision-making (MCDM) modeling frameworks for decision-making has received little research attention. In this paper, we introduce a new multiattribute selection procedure that incorporates both regret and rejoice to select the best choice. We utilize the positional advantage operator concept to develop regret and rejoice mathematical equations, and prove them. The proposed MCDM procedure that incorporates these two emotional factors offers a decision-maker the flexibility to trade off some benefits in order to gain a state of psychological satisfaction. More specifically, regret and rejoice are presented mathematically to enable the decision-maker to determine the values of regret and rejoice, and then make the decision in which the rejoice value is higher than the regret value. To test the performance of this new procedure, we apply it to three numerical examples proposed in previous works. The results are matched with those obtained by other methods such as the regret model, VIKOR, PROMETHEE I, and PROMETHEE II, thereby proving the efficacy of the new procedure.

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Section: Overview Of Regret and Rejoice In Mcdmmentioning

confidence: 99%

Multi-Attribute Selection Procedures Based on Regret and Rejoice for the Decision-Maker

Mengash¹,

Ayadi²

2022

Computers, Materials &Amp; Continua

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“…López and Ishizaka (2017) proposed a group multi-criteria analytic hierarchy process to sort vendors of cloud-based ERP. Song et al (2017) proposed a multi-criteria group decision-making using linguistic variable assessment of cloud model, considering various and differential psychological behavior with feedback adjustment mechanism.…”

Section: Literature Reviewmentioning

confidence: 99%

A study of group decision-making for green technology adoption in micro and small enterprises

Yao

Song

et al. 2020

JBIM

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Purpose Green technology adoption (GTA) in small and micro enterprises (SMEs) is a complex multi-attribute group decision-making issue. Conflicts of opinions can hamper the achievement of group coherence. The purpose of this paper is to solve the conflict decision-making problem in SMEs. Design/methodology/approach This paper reconstructs the GTA evaluation index system for SMEs and proposes an intragroup coordination relationship model to mitigate group decision-making conflicts based on the cloud model and social networks (GCS). The numerical characteristics of these GTA indicators are determined using fuzzy theory and cloud model. Findings It was found that establishing a trust relationship network and a conflict coordination relationship could improve the consistency of group decision-making. The degree of coordination has subtle differences with the trust relationship. Particularly, the coordination relationship has obvious influences on the decision-making results among small groups in SMEs. Originality/value The conflict coordination model can significantly improve the consistency of group decision-making in SMEs. At the same time, it discusses the differences between the level of conflict coordination and the trust propagation in the process of group decision-making.

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“…Literature [15] uses regret theory to obtain interval comprehensive utility value of alternatives in three-parameter interval number decision-making. In literature [16], an improved feedback adjustment mechanism based on regret theory is employed as the consistency model, which complements prospect theory in multiattribute group decision problems. Literature [17] combines regret theory to TOPSIS method and applies to grey stochastic multicriteria decision-making.…”

Section: Introductionmentioning

confidence: 99%

Uncertain Multiattribute Decision-Making Based on Interval Number with Extension-Dependent Degree and Regret Aversion

Pang

2018

Mathematical Problems in Engineering

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In view of the uncertainty multiattribute decision-making problem with attribute values and weights both being interval number, a new solution based on regret theory and extension-dependent degree is proposed. It can define pass value of each attribute, which means decision-maker’s acceptance for the scheme under the pass value will decline quickly. Then according to traditional regret theory, the method defines an extension-dependent function based on pass value which can improve the flexibility of the traditional utility function and the ability to describe the risk aversion actions from decision-makers. Then the extension-dependent function for interval number is built, and the perceived utility value of each scheme is obtained based on the interval’s optimal value. The method can also reflect the decision-maker’s reference to high or low evaluation score by setting attitude coefficients. At last, an example is presented to examine the feasibility, effectiveness, and stability of our method.

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Risky Multicriteria Group Decision Making Based on Cloud Prospect Theory and Regret Feedback

Cited by 11 publications

References 41 publications

Multi-Attribute Selection Procedures Based on Regret and Rejoice for the Decision-Maker

Multi-Attribute Selection Procedures Based on Regret and Rejoice for the Decision-Maker

A study of group decision-making for green technology adoption in micro and small enterprises

Uncertain Multiattribute Decision-Making Based on Interval Number with Extension-Dependent Degree and Regret Aversion

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