Year: 2017
Type: article
Abstract: In real life, sometimes multicriteria decision making (MCDM) problems are dealt with inevitably under cognitive limitations of human's minds. However, few existing models can directly solve MCDM problems of this kind. Thus, to address the issue, this paper proposes a novel approach, which can: (i) handle the cognitive limitations in MCDM problems by distinguishing the case of complete criteria (i.e., there are no hidden cognitive factors that can deviate rational decisions) from the case of incomplete criteria (i.e., there are some hidden cognitive factors that can deviate rational decisions); (ii) differentiate incomplete and complete relative ranking of the groups of decision alternatives (DAs) over a criterion; and (iii) solve the imprecise and uncertain evaluation of criterion weight as well as the ambiguous evaluations of the groups of DAs regarding a given criterion. Hence, we give a measure to consider the influence of cognitive limitations and give two methods to reduce the influence of cognitive limitations when a decision making needs more rational. Moreover, we illustrate our approach by solving a real-life problem of estate investment. Finally, we give some experimental results about the reduction of the required number of knowledge judgments in our method compared with the previous methods.
DOI: 10.1002/int.21872
Authors: Wenjun Ma, Xudong Luo, Yuncheng Jiang
Institutions: South China Normal University, Sun Yat-sen University
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W2586073136