232 research outputs found
Modified EDAS Method Based on Cumulative Prospect Theory for Multiple Attributes Group Decision Making with Interval-valued Intuitionistic Fuzzy Information
The Interval-valued intuitionistic fuzzy sets (IVIFSs) based on the
intuitionistic fuzzy sets combines the classical decision method is in its
research and application is attracting attention. After comparative analysis,
there are multiple classical methods with IVIFSs information have been applied
into many practical issues. In this paper, we extended the classical EDAS
method based on cumulative prospect theory (CPT) considering the decision
makers (DMs) psychological factor under IVIFSs. Taking the fuzzy and uncertain
character of the IVIFSs and the psychological preference into consideration,
the original EDAS method based on the CPT under IVIFSs (IVIF-CPT-MABAC) method
is built for MAGDM issues. Meanwhile, information entropy method is used to
evaluate the attribute weight. Finally, a numerical example for project
selection of green technology venture capital has been given and some
comparisons is used to illustrate advantages of IVIF-CPT-MABAC method and some
comparison analysis and sensitivity analysis are applied to prove this new
methods effectiveness and stability.Comment: 48 page
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
A novel TODIM based on prospect theory to select green supplier with q-rung orthopair fuzzy set
The authors would like to acknowledge the financial support by the Fundamental Research Funds for the Central Universities (#JBK2001043, and #JBK190969), the FEDER funds provided in the National Spanish project PID2019-103880RB-I00 and also it has been partially supported by grant from the National Natural Science Foundation of China (#71910107002).Green supply chain has developed rapidly due to the advocacy of ecological civilization, and choosing a proper green supplier is a crucial issue. Considering the fuzziness of evaluation information and the psychological states of decision makers (DMs) in selecting process, a novel TODIM based on prospect theory with q-rung orthopair fuzzy set (q-ROFS) is proposed. The novel TODIM concerns both the perceived transformed probability weighting function and the differences in risk attitudes. A new distance, which concerns the herd mentality, is carried out to measure the perceived difference of the q-ROFS. Besides, a new systematic evaluation index system, named as PCEM (Product, Cooperation ability, Environment, Market), has been established. A case related to pork supplier companies is presented and fully demonstrates the effectiveness of the novel TODIM when compared with the extended one, the intuitionistic fuzzy TODIM, the Pythagorean fuzzy TODIM as well as the TOPSIS with q-ROFS. Finally, a series of comparative analyses illustrate the advantages of the proposed TODIM.Fundamental Research Funds for the Central Universities
JBK2001043
JBK190969FEDER funds provided in the National Spanish project
PID2019-103880RB-I00National Natural Science Foundation of China (NSFC)
7191010700
Single-valued neutrosophic TODIM method based on cumulative prospect theory for multi-attribute group decision making and its application to medical emergency management evaluation
In recent years, emergent public health events happen from time
to time, which puts forward new requirements for the establishment of a perfect medical emergency system. It is a new direction
to evaluate the effectiveness of medical emergency systems from
the perspective of multi-attribute group decision making
(MAGDM) issues. In such article, we tend to resolve the MAGDM
issues under single-valued neutrosophic sets (SVNSs) with TODIM
method based on cumulative prospect theory (CPT). And the single-valued neutrosophic TODIM method based on CPT (CPT-SVNTODIM) for MAGDM issues are developed. This new method not
only inherits advantages of classical TODIM method, but also has
further improvement in some aspects. For example, we set up the
entropy to calculate attribute weights for ensuring the more
objective decision-making process. Furthermore, it is also an
extension of MAGDM method to utilize single-valued neutrosophic numbers (SVNNs) to depict decision makersā ideas. In addition, we introduce the application of CPT-SVN-TODIM method in
the assessment of medical emergency management. And finally,
the reliability of CPT-SVN-TODIM method is confirmed by comparing with some other methods
Group decision-making models for venture capitalists: the PROMETHEE with hesitant fuzzy linguistic information
Venture capitalists (VCs) have long been preoccupied by the issue of selecting a promising start-up firm, whereas, ranking the available start-up firms is an effective way to solve this issue. In this paper, the PROMETHEE is chosen to be the fundamental ranking method. Also, the hesitant fuzzy linguistic term set is a suitable tool to simulate VCsā evaluation information. Additionally, as the deepening of social division of labor and specialization of individuals, group decision making is famous for improving decision-making quality. Moreover, in the decision-making process, VCs exhibit behavioral characteristics which is depicted well by prospect theory that VCs are risk averse for gains and risk seeking for losses and rely on the transformed probability to make their decisions rather than unidimensional probability. Thus, a group prospect PROMETHEE with hesitant fuzzy linguistic information is constructed for VCs to make a better decision. Then, the proposed method is applied to rank start-up firms and the comparative analyses are made as well. It confirms that the group prospect PROMETHEE is better in describing the common behavioral characteristics of VCs and in enhancing the quality of evaluation
Consistency and Consensus Driven for Hesitant Fuzzy Linguistic Decision Making with Pairwise Comparisons
Hesitant fuzzy linguistic preference relation (HFLPR) is of interest because
it provides an efficient way for opinion expression under uncertainty. For
enhancing the theory of decision making with HFLPR, the paper introduces an
algorithm for group decision making with HFLPRs based on the acceptable
consistency and consensus measurements, which involves (1) defining a hesitant
fuzzy linguistic geometric consistency index (HFLGCI) and proposing a procedure
for consistency checking and inconsistency improving for HFLPR; (2) measuring
the group consensus based on the similarity between the original individual
HFLPRs and the overall perfect HFLPR, then establishing a procedure for
consensus ensuring including the determination of decision-makers weights. The
convergence and monotonicity of the proposed two procedures have been proved.
Some experiments are furtherly performed to investigate the critical values of
the defined HFLGCI, and comparative analyses are conducted to show the
effectiveness of the proposed algorithm. A case concerning the performance
evaluation of venture capital guiding funds is given to illustrate the
availability of the proposed algorithm. As an application of our work, an
online decision-making portal is finally provided for decision-makers to
utilize the proposed algorithms to solve decision-making problems.Comment: Pulished by Expert Systems with Applications (ISSN: 0957-4174
A GRP-basedHesitant Fuzzy Multiple Attribute Decision MakingMethod and Its Application to E-Commerce Risk Assessment
With respect to multiple attribute decision making (MADM) problems in which the attribute values take the form of hesitant fuzzy elements, the traditional grey relational projection (GRP) method is extended to solve multiple attribute decision making problems under hesitant fuzzy environment. Based on the hesitant fuzzy decision matrix provided by decision makers, all feasible alternatives are ranked according to the descending order of relative grey relational projections, and the most desirable alternative(s) should have the largest grey relational projection on positive ideal solution and the smallest grey relational projection on negative ideal solution. Finally, a numerical example of e-commerce risk assessment is given to illustrate the application 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
International entrepreneurial startups' location under uncertainty through a heterogeneous multi-layer decision-making approach:Evidence and application of an emerging economy
Purpose: Science and technology parks (STPs) have a limited capacity, which can create challenging conditions for applicants. This makes the location selection a multi-criteria decision-making (MCDM) problem to find and apply for the most appropriate STP with the highest accordance with the startup's requirements. This research aims to select the most appropriate STP to locate an international entrepreneurial pharmaceutical startup under uncertainty. Since drugs are generally produced domestically in developing countries such as Iran, the access of pharmaceutical startups to the resources provided by STPs can lead to overcoming competitors and improving the country's health system. Design/methodology/approach: In this research, the factors or attributes effective on startup location were extracted through a two-round Delphi method, which was performed among 15 experts within three groups. Subsequently, the determining factors were used to select the location of a pharmaceutical startup among possible STPs. In this regard, decision-makers were allowed to use different types of numbers to transfer their opinion. Afterward, the heterogeneous weighted aggregated sum product assessment (HWASPAS) method was applied to calculate the score of each alternative and rank them to place the studied startup successfully. Findings: The results indicated that Tehran STP stands in the first place; however, if the decision was made based on single criterion like cost, some other STPs could be preferable, and many managers would lose this choice. Furthermore, the results of the proposed method were close to other popular heterogeneous MCDM approaches. Originality/value: A heterogeneous WASPAS is developed in this article for the first time to enable international entrepreneurs to imply their opinion with various values and linguistic variables to reduce the emphasis on accurate data in an uncertain environment
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