Work

Approaches to Pythagorean Fuzzy Stochastic Multi-criteria Decision Making Based on Prospect Theory and Regret Theory with New Distance Measure and Score Function

Year: 2017

Type: article

Abstract: In this paper, we initiate a new axiomatic definition of Pythagorean fuzzy distance measure, which is expressed by Pythagorean fuzzy number that will reduce the information loss and remain more original information. Then, the objective weights of various criteria are determined via grey system theory. Combining objective weights with subjective weights, we present the combined weights, which can reflect both the subjective considerations of the decision maker and the objective information. Meanwhile, a novel score function is proposed. Later, we present two algorithms to solve stochastic multicriteria decision making problem, which takes prospect preference and regret aversion of decision makers into consideration in the decision process. Finally, the effectiveness and feasibility of approach is demonstrated by a numerical example.

Source: International Journal of Intelligent Systems

DOI: 10.1002/int.21896

Authors: Xindong Peng, Jingguo Dai

Institution: Shaoguan University

Language: English

Topic: Multi-Criteria Decision Making

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

Open Access status: bronze

Funders: National Natural Science Foundation of China, Shaoguan University

Awards: 基于乳腺X光图像的医学图像挖掘研究, G4118854931