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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

Article
Publication date: 27 January 2012

Chaoyu Zhu and Naiming Xie

The purpose of this paper is to propose a model for effective data filling and precise prediction, which is used to solve the prediction problem of sequential data with the…

266

Abstract

Purpose

The purpose of this paper is to propose a model for effective data filling and precise prediction, which is used to solve the prediction problem of sequential data with the characteristics of poor information, high growth and containing extraordinary points.

Design/methodology/approach

After proving that the three principles of smooth sequence are not a sufficient condition for the judgement of sequence smoothness, judgement rules for sequence smoothness based on smoothness efficiency is introduced. Based on the non‐homogenous discrete grey model (NDGM) model which fits for high growth sequence, model error caused by equal weight mean value is analyzed, and mean value generation weight efficiency is optimized by the method of differential. Prediction steps that fit sequences with high growth, poor information and containing extraordinary points is established on the basis of equal weight mean value generation efficiency.

Findings

The results are convincing: previous judgement rules used for sequence smoothness do not fit for the high growth sequence, new judgement rules introduced are more effective for high growth sequence. Sequence filling algorithm based on differential ration not only improve the filling of high growth sequence, but also enhance the prediction precision of these sequences.

Practical implications

The method exposed in the paper can be used to solve the prediction problem of sequences with poor information, high growth and containing extraordinary points, and it was proved in the cases of large and medium company new products income and Ufida Software Company. What is more, the method is also helpful in aspects of corporate financial control and strategy‐making process.

Originality/value

The paper succeeds in proposing a new interpolation algorithm that is superior to ordinary mean value generation method in the aspects of generation and prediction and to grey interpolation algorithm in the aspect of information volume by defining sequence smoothness efficiency and introducing smoothness judgement rules that are easy to compute and fits for high growth sequence and not limited to monotonicity sequence.

Details

Grey Systems: Theory and Application, vol. 2 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 1 April 2001

Huanwen Cheng

The development of library science is discussed within four main phases: US influence before 1949; Soviet Union influence 1949‐1965; diplomatic segregation from the West…

1920

Abstract

The development of library science is discussed within four main phases: US influence before 1949; Soviet Union influence 1949‐1965; diplomatic segregation from the West 1966‐1976; and the influence of the developed countries 1977‐1991. The effects of the Cold War on Chinese politics and so on librarianship are indicated and discussed and the influence of the Cultural Revolution, and recovery after it, analysed.

Details

Library Review, vol. 50 no. 3
Type: Research Article
ISSN: 0024-2535

Keywords

Article
Publication date: 15 June 2010

Qianjin Dong, Xueshan Ai, Guangjing Cao, Yanmin Zhang and Xianjia Wang

The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.

690

Abstract

Purpose

The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.

Design/methodology/approach

It is not reasonable that weight coefficients of different risk indices are often determined subjectively in conventional procedures, so the entropy weight method is introduced and chosen to solve the problem. Entropy weight method can get the weight coefficients of different risk indices objectively and is valid from the case study.

Findings

The feasibility and validity of entropy weight methods to determine weight coefficients of different risk indices objectively are recognized.

Research limitations/implications

Accessibility and availability of data are the main limitations.

Practical implications

The paper provides a more objective risk indicator of water security of drought periods for water resources managers.

Originality/value

This paper determines the weight coefficients of different risk indices for risk assessment of water security of drought periods based on hazard entropy. The paper is aimed at water resources managers and relative researchers, especially those who deal with risk assessment of water security of drought periods.

Details

Kybernetes, vol. 39 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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