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Article
Publication date: 4 September 2018

Ye Li and Dongxing Zhang

The purpose of this paper is to propose a dynamic multi-attribute decision-making method based on the prospect theory for dealing with the dynamic multi-attribute decision

Abstract

Purpose

The purpose of this paper is to propose a dynamic multi-attribute decision-making method based on the prospect theory for dealing with the dynamic multi-attribute decision-making problem with three-parameter interval grey number.

Design/methodology/approach

First, the kernel and comparison rule of three-parameter interval grey numbers are defined, which are the basis of collecting and sorting grey numbers. Next, the prospect value function is determined in view of the decision-making information with different time points as the reference points. Then, an optimal model for solving the attribute weight and time weight is constructed based on the grey entropy principle.

Findings

The paper provides a dynamic grey interrelation decision method based on the prospect theory with three-parameter interval grey number, and the example analysis shows that the method proposed in this paper has validity and rationality.

Research limitations/implications

If we have a better understanding of the weights of different reference points, it is possible to receive a more reasonable expression for the comprehensive prospect utility value function.

Practical implications

The paper provides a grey interrelation decision method based on the prospect theory, which can help the decision maker deal with the dynamic multi-attribute decision-making problems under the uncertain environment.

Originality/value

The paper proposes the kernel and ranking method of three-parameter interval grey number, and uses different time points as the reference points to define the prospect value function. Furthermore, this paper structures a dynamic grey interrelation decision method with three-parameter interval grey number based on the prospect theory.

Details

Grey Systems: Theory and Application, vol. 8 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 1 August 2006

Yaoguo Dang, Sifeng Liu and Chuanmin Mi

Based on the characteristics of interval number, the distance of interval number is defined. And based on the grey incidence degree theory, the degree of interval number…

Abstract

Purpose

Based on the characteristics of interval number, the distance of interval number is defined. And based on the grey incidence degree theory, the degree of interval number incidence is defined. These extend grey incidence analysis theory from real number sequence to interval number sequence.

Design/methodology/approach

Studies the multi‐attribute incidence decisionmaking problems for interval number and models the incidence decisionmaking model of multi‐attribute interval number.

Findings

An application example is given based on grey incidence decision model with multi‐attribute interval number.

Research limitations/implications

This new model can avoid the difficulty of seeking the dummy optimal scheme and the negative optimal scheme, and it regards evaluated scheme as a whole to seek the optimal scheme.

Practical implications

It is easy to realizing on computer and the evaluated result is more objective than the results obtained by other methods.

Originality/value

Studies multi‐attribute decisionmaking problems.

Details

Kybernetes, vol. 35 no. 7/8
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 28 October 2013

Dang Luo, Xia Wang and Bo Song

The paper aims to research the multi-attribute decision-making in which the attribute values are interval grey numbers and the maximum probability of the value of grey…

Abstract

Purpose

The paper aims to research the multi-attribute decision-making in which the attribute values are interval grey numbers and the maximum probability of the value of grey number is known.

Design/methodology/approach

First, the authors define deviation degree and dominance relation of three-parameter interval grey number and get the equivalence between the dominance relation of decision-making object and the sum of three values of three-parameter interval grey number. Then, considering the uncertainty of goal weight, the authors construct multi-index optimization model based on deviation degree and get the goal weight.

Findings

The authors prove the rationality and effectiveness of decision-making methods by examples and give a new thought for grey multi-attribute decision-making methods.

Originality/value

As a paper research on theory, it offered a new multi-attribute decision-making method with three-parameter interval grey number.

Details

Grey Systems: Theory and Application, vol. 3 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 20 February 2007

Cengiz Kahraman, Nüfer Yasin Ateş, Sezi Çevik, Murat Gülbay and S. Ayça Erdoğan

To develop a multi‐attribute decision making model for evaluating and selecting among logistic information technologies.

Abstract

Purpose

To develop a multi‐attribute decision making model for evaluating and selecting among logistic information technologies.

Design/methodology/approach

First a multi‐attribute decision making model for logistic information technology evaluation and selection consisting of 4 main and 11 sub criteria is constructed, then a hierarchical fuzzy TOPSIS method is developed to solve the complex selection problem with vague and linguistic data. Sensitivity analysis is presented.

Findings

Reviews the literature and provides a structured hierarchical model for logistic information technology evaluation and selection based on the premise that the logistic information technology evaluation and selection problem can be viewed as a product of tangible benefits, intangible benefits, policy issues and resources. Defines tangible benefits as cost savings, increased revenue, and return on investment; intangible benefits as customer satisfaction, quality of information, multiple uses of information, and setting tone for future business; policy issues as risk and necessity level; resources as costs and completion time. Presents a methodology that is developed for the complex, uncertain and vague characteristics of the problem.

Research limitations/implications

Comparisons with other multi‐attribute decision making techniques such as AHP, ELECTRE, PROMETHEE and ORESTE under fuzzy conditions can be done for further research.

Practical implications

This article is a very useful source of information both for logistic managers and stakeholders in making decisions about logistic information technology investments.

Originality/value

This paper addresses the logistic information technology evaluation and selection criteria for practitioners and proposes a new multi‐attribute decision making methodology, hierarchical fuzzy TOPSIS, for the problem.

Details

Journal of Enterprise Information Management, vol. 20 no. 2
Type: Research Article
ISSN: 1741-0398

Keywords

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Article
Publication date: 9 April 2019

Rajali Maharjan and Shinya Hanaoka

The purpose of this paper is to reveal the importance of the order of establishment of temporary logistics hubs (TLHs) when resources (mobile storage units used as TLHs…

Abstract

Purpose

The purpose of this paper is to reveal the importance of the order of establishment of temporary logistics hubs (TLHs) when resources (mobile storage units used as TLHs) are limited and to present the development and implementation of a methodology that determines the order of establishment of TLHs to support post-disaster decision making.

Design/methodology/approach

It employed a decision support system that considers multiple decision makers and subjective attributes, while also addressing the impreciseness inherent in post-disaster decision making for ordering the establishment of TLHs. To do so, an optimization model was combined with a fuzzy multi-attribute group decision making approach. A numerical illustration was performed using data from the April 2015 Nepal Earthquake.

Findings

The results showed the location and order of establishment of TLHs, and demonstrated the impact of decision makers’ opinions on the overall ordering.

Research limitations/implications

The study does not discuss the uncertain nature of the location problem and the potential need for relocation of TLHs.

Practical implications

This methodology offers managerial insights for post-disaster decision making when resources are limited and their effective utilization is vital. The results highlight the importance of considering the opinions of multiple actors/decision makers to enable coordination and avoid complication between the growing numbers of humanitarian responders during disaster response.

Originality/value

This study introduces the concept of the order of establishment of TLHs and demonstrates its importance when resources are limited. It develops and implements a methodology determining the order of establishment of TLHs to support post-disaster decision making.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. 9 no. 1
Type: Research Article
ISSN: 2042-6747

Keywords

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Article
Publication date: 2 February 2015

Qingsheng LI and Ni Zhao

The purpose of this paper is to deal with interval grey-stochastic multi-attribute decision-making problems. It proposes a VIKOR method based on prospect theory in which…

Abstract

Purpose

The purpose of this paper is to deal with interval grey-stochastic multi-attribute decision-making problems. It proposes a VIKOR method based on prospect theory in which probabilities and the attribute value are both grey numbers.

Design/methodology/approach

In the prospect theory the results values and probability weight are used while the utility and probability values in the expected utility theory, which the more realistically reflect and describe the decision makers on the optimal process. VIKOR method makes the decision acceptable superiority and decision process stability. At the same time, a new interval grey number entropy is put forward, which is used to calculate the index weight of unknown.

Findings

The paper provides a VIKOR method based on prospect theory in which probabilities and the attribute value are both grey numbers. And the validity and feasibility of the method are illustrated by an example.

Research limitations/implications

Although VIKOR is much closer to PIS than TOPSIS, at the same time VIKOR method can get the compromise solution with priority, researchers are encouraged to carry on comparative study further.

Practical implications

The paper includes interval grey-stochastic multi-attribute decision-making method and implications. The validity and feasibility of the method are illustrated by a case.

Originality/value

This paper proposes a VIKOR method based on prospect theory in which probabilities and the attribute value are both interval grey numbers. At the same time, a new interval grey number entropy is put forward, which is used to calculate the index weight of unknown.

Details

Grey Systems: Theory and Application, vol. 5 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 3 August 2015

Dang Luo and Yuwen Li

For the multi-stage and multi-attribute risk group decision-making problem, the attribute weight, decision-maker weight and time weight are unknown. The attribute value is…

Abstract

Purpose

For the multi-stage and multi-attribute risk group decision-making problem, the attribute weight, decision-maker weight and time weight are unknown. The attribute value is grey information. The purpose of this paper is to discuss a decision-making method.

Design/methodology/approach

Analysis techniques and the theory about distance degree are used to determine the decision-maker weight within single stage. Grey relational analysis method is applied to determine the attribute weight. Moreover, the uncertainty of time weight and the proximity between the attribute value and positive/negative value are taken into account. A multi-objective optimization model is established based on maximum entropy to obtain time weights, so the comprehensive value is determined.

Findings

An example shows the effectiveness and practicability.

Originality/value

For a decision-making process, the results are different in different periods. This method is computationally very simple, easily comprehensible.

Details

Grey Systems: Theory and Application, vol. 5 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 25 February 2014

Lei Li, Xiaolu Xie and Rui Guo

This paper aims at multi-attribute and multi-program group decision making when the attribute weights are completely unknown and the attribute value information is in the…

Abstract

Purpose

This paper aims at multi-attribute and multi-program group decision making when the attribute weights are completely unknown and the attribute value information is in the form of the interval number.

Design/methodology/approach

This is an artificial intelligence algorithm for designing information gathering in group decision making. The authors propose the nonlinear programming model to gather information based on plant growth simulation algorithm (PGSA). The authors collect each program on each attribute group decision preference ordering interval and then use them to find the preference vector and the preference matrix. The entropy method is used to determine the weight of each attribute by the constructed preference matrix. According to the possibility degree matrix of each attribute, the combined effect vector is established by the priority weight vector method, which sorts and selects the best decision making program.

Findings

To the authors' knowledge, the application of PGSA in the field of management decisions to collect program on each attribute group decision making preference interval number is the first trial in literature. It has retained more valuable decision making information from all experts without distortion.

Practical implications

In practice, a real number may not be an accurate representation, but only gives a range of values to describe the attributes. This study provides a useful measurement of interval number information for managers to evaluate military science, venture capital, and environmental assessment, etc.

Originality/value

The methodology considers the complete information to ensure no information distortion even with large and complex systems. The authors adopt computer artificial intelligence algorithms to obtain the objective evaluation, which is meaningful for both research studies and practical use.

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Article
Publication date: 17 August 2012

Hu Ming‐li, Shen Fei‐fei and Chen Ya‐huan

The purpose of this paper is to propose a multi‐attribute decisionmaking method based on the concept of extended dominance relation and variable precision rough sets.

Abstract

Purpose

The purpose of this paper is to propose a multi‐attribute decisionmaking method based on the concept of extended dominance relation and variable precision rough sets.

Design/methodology/approach

First, the definitions of extended dominance relation and variable precision rough sets are introduced in detail. Second, two types of extended dominance rules are obtained from the pairwise comparison table. Third, a scoring function is defined and sorted to score all the objects. Finally, a case about the emergency decision making after an earthquake is discussed to demonstrate the feasibility and efficiency of the method.

Findings

It is found that the new method can deal with decisionmaking problems with incomplete information. Numerical examples show that the method has good application prospects in public emergency decision making, including an earthquake emergency.

Practical implications

The method shown in the paper can be used for solving decisionmaking problems with incomplete information.

Originality/value

The paper develops a novel multi‐attribute decision analysis method dealing with incomplete information based on rough sets theory.

Details

Grey Systems: Theory and Application, vol. 2 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 1 August 2016

Ye Li, Shanli Zhu and San-dang Guo

The purpose of this paper is to propose the grey target decision method based on three-parameter interval grey number for dealing with multi-attribute decision-making

Abstract

Purpose

The purpose of this paper is to propose the grey target decision method based on three-parameter interval grey number for dealing with multi-attribute decision-making problems under uncertain environment.

Design/methodology/approach

First, the kernel and ranking method of three-parameter interval grey number are defined, which is the basis of determining the positive and negative bull’s-eye. Next, a new distance measure of three-parameter interval grey number is defined in view of the importance of the “center of gravity” point. Furthermore, a new comprehensive bull’s-eye distance is proposed based on the kernel which integrates the distance between different attributes to the positive and negative bull’s-eye. Then attribute weights are obtained by comprehensive bull’s-eye distance minimum and grey entropy maximization.

Findings

The paper provides a grey target decision method based on three-parameter interval grey number and example analysis shows that the method proposed in this paper is more reasonable and effective.

Research limitations/implications

If we have a better understanding of the distribution characteristics of three-parameter interval grey number, it is possible to have a more reasonable measure of the distance of three-parameter interval grey number.

Practical implications

The paper provides a grey target decision method, which can help decision maker deal with multi-attribute decision-making problems under uncertain environment.

Originality/value

This paper proposed the kernel and ranking method of three-parameter interval grey number, and defined a new distance measure of three-parameter interval grey number and proposed a new comprehensive bull’s-eye distance, Furthermore, this paper structured a grey target decision method based on three-parameter interval grey number.

Details

Grey Systems: Theory and Application, vol. 6 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

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