591 research outputs found
Probabilistic hesitant fuzzy multiple attribute decisionmaking based on regret theory for the evaluation of venture capital projects
The selection of venture capital investment projects is one of the
most important decision-making activities for venture capitalists.
Due to the complexity of investment market and the limited cognition
of people, most of the venture capital investment decision
problems are highly uncertain and the venture capitalists are
often bounded rational under uncertainty. To address such problems,
this article presents an approach based on regret theory to
probabilistic hesitant fuzzy multiple attribute decision-making.
Firstly, when the information on the occurrence probabilities of
all the elements in the probabilistic hesitant fuzzy element
(P.H.F.E.) is unknown or partially known, two different mathematical
programming models based on water-filling theory and the
maximum entropy principle are provided to handle these complex
situations. Secondly, to capture the psychological behaviours
of venture capitalists, the regret theory is utilised to solve the
problem of selection of venture capital investment projects.
Finally, comparative analysis with the existing approaches is conducted
to demonstrate the feasibility and applicability of the proposed
method
Algorithms for probabilistic uncertain linguistic multiple attribute group decision making based on the GRA and CRITIC method: application to location planning of electric vehicle charging stations
Electric vehicles (EVs) could be regarded as one of the most
innovative and high technologies all over the world to cope with
the fossil fuel energy resource crisis and environmental pollution
issues. As the initiatory task of EV charging station (EVCS) construction,
site selection play an important part throughout the
whole life cycle, which is deemed to be multiple attribute group
decision making (MAGDM) problem involving many experts and
many conflicting attributes. In this paper, a grey relational analysis
(GRA) method is investigated to tackle the probabilistic uncertain
linguistic MAGDM in which the attribute weights are completely
unknown information. Firstly, the definition of the expected value
is then employed to objectively derive the attribute weights
based on the CRiteria Importance Through Intercriteria Correlation
(CRITIC) method. Then, the optimal alternative is chosen by calculating
largest relative relational degree from the probabilistic
uncertain linguistic positive ideal solution (PULPIS) which considers
both the largest grey relational coefficient from the PULPIS and the
smallest grey relational coefficient from the probabilistic uncertain
linguistic negative ideal solution (PULNIS). Finally, a numerical
case for site selection of electric vehicle charging stations (EVCS) is
designed to illustrate the proposed method. The result shows the
approach is simple, effective and easy to calculate
A systematic review on multi-criteria group decision-making methods based on weights: analysis and classification scheme
Interest in group decision-making (GDM) has been increasing prominently over the last decade. Access to global databases, sophisticated sensors which can obtain multiple inputs or complex problems requiring opinions from several experts have driven interest in data aggregation. Consequently, the field has been widely studied from several viewpoints and multiple approaches have been proposed. Nevertheless, there is a lack of general framework. Moreover, this problem is exacerbated in the case of experts’ weighting methods, one of the most widely-used techniques to deal with multiple source aggregation. This lack of general classification scheme, or a guide to assist expert knowledge, leads to ambiguity or misreading for readers, who may be overwhelmed by the large amount of unclassified information currently available. To invert this situation, a general GDM framework is presented which divides and classifies all data aggregation techniques, focusing on and expanding the classification of experts’ weighting methods in terms of analysis type by carrying out an in-depth literature review. Results are not only classified but analysed and discussed regarding multiple characteristics, such as MCDMs in which they are applied, type of data used, ideal solutions considered or when they are applied. Furthermore, general requirements supplement this analysis such as initial influence, or component division considerations. As a result, this paper provides not only a general classification scheme and a detailed analysis of experts’ weighting methods but also a road map for researchers working on GDM topics or a guide for experts who use these methods. Furthermore, six significant contributions for future research pathways are provided in the conclusions.The first author acknowledges support from the Spanish Ministry of Universities [grant number FPU18/01471]. The second and third author wish to recognize their support from the Serra Hunter program. Finally, this work was supported by the Catalan agency AGAUR through its research group support program (2017SGR00227). This research is part of the R&D project IAQ4EDU, reference no. PID2020-117366RB-I00, funded by MCIN/AEI/10.13039/ 501100011033.Peer ReviewedPostprint (published version
Distributed Linguistic Representations in Decision Making: Taxonomy, Key Elements and Applications, and Challenges in Data Science and Explainable Artificial Intelligence
Distributed linguistic representations are powerful tools for modelling the uncertainty and complexity of preference information in linguistic decision making. To provide a comprehensive perspective on the development of distributed linguistic representations in decision making, we present the taxonomy of existing distributed linguistic representations. Then, we review the key elements and applications of distributed linguistic information processing in decision making, including the distance measurement, aggregation methods, distributed linguistic preference relations, and distributed linguistic multiple attribute decision making models. Next, we provide a discussion on ongoing challenges and future research directions from the perspective of data science and explainable artificial intelligence.National Natural Science Foundation of China (NSFC) 71971039
71421001,71910107002,71771037,71874023
71871149Sichuan University sksyl201705
2018hhs-5
A double interaction-based financing group decisionmaking framework considering uncertain information and inconsistent assessment
Financing group decision-making (FGDM), which is an important
stage of project financing, has unique characteristics: large investments
and long payback horizons. Its evaluation results are likely
to be distorted if we ignore the uncertain information and inconsistent
assessment during the decision-making process. In this
study, we propose a double interaction-based FGDM framework
under uncertain information and inconsistent assessment. We
modify the weight setting of evidence reasoning and aggregation
method of probabilistic linguistic term sets to process the above
two issues. The proposed framework is applied in a detailed case
study analysis to display its effectiveness and stability. We expect
the double interaction-based group decision-making framework
under uncertain information and inconsistent assessment to be a
useful tool to understand FGDM processes
Stochastic multiple attribute decision making with Pythagorean hesitant fuzzy set based on regret theory
The objective of this paper is to present an extended approach to address the stochastic multi-attribute decision-making problem. The novelty of this study is to consider the regret behavior of decision makers under a Pythagorean hesitant fuzzy environment. First, the group satisfaction degree of decision-making matrices is used to consider the different preferences of decision-makers. Second, the nonlinear programming model under different statues is provided to compute the weights of attributes. Then, based on the regret theory, a regret value matrix and a rejoice value matrix are constructed. Furthermore, the feasibility and superiority of the developed approach is proven by an illustrative example of selecting an air fighter. Eventually, a comparative analysis with other methods shows the advantages of the proposed methods
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment
The Belt and Road (B&R) Initiative receives enthusiastic response, the aim of which is to develop cooperative partnerships with countries along the routes and build a community of common destiny. So far, Chinese companies have invested in many different countries along the B&R. Generally, the investment decision making problems are characterized by high risk and uncertainty. Then how to make an appropriate investment decision will be a thorny issue. In this paper, probabilistic hesitant fuzzy set (PHFS) is used for handling uncertainty in multiple attribute decision making (MADM), and the criteria importance through intercriteria correlation (CRITIC) approach is extended to obtain attribute weights, no matter whether the weight information is incompletely known or not. Considering that the existing probabilistic hesitant fuzzy distance measures fail to meet the condition of distance measure, a new distance between PHFSs is proposed and applied to investment decision making for countries along the B&R. In the last, comparative analyses are performed to illustrate the advantages of the presented approach
Granular computing and optimization model-based method for large-scale group decision-making and its application
In large-scale group decision-making process, some decision makers hesitate among several linguistic terms and cannot compare
some alternatives, so they often express evaluation information
with incomplete hesitant fuzzy linguistic preference relations.
How to obtain suitable large-scale group decision-making results
from incomplete preference information is an important and
interesting issue to concern about. After analyzing the existing
researches, we find that: i) the premise that complete preference
relation is perfectly consistent is too strict, ii) deleting all incomplete linguistic preference relations that cannot be fully completed will lose valid assessment information, iii) semantics given
by decision makers are greatly possible to be changed during the
consistency improving process. In order to solve these issues, this
work proposes a novel method based on Granular computing
and optimization model for large-scale group decision-making,
considering the original consistency of incomplete hesitant fuzzy
linguistic preference relation and improving its consistency without changing semantics during the completion process. An illustrative example and simulation experiments demonstrate the
rationality and advantages of the proposed method: i) semantics
are not changed during the consistency improving process, ii)
completion process does not significantly alter the inherent quality of information, iii) complete preference relations are globally
consistent, iv) final large-scale group decision-making result is
acquired by fusing complete preference relations with different weights
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