Multiple attribute decision making considering aspiration-levels : A method based on prospect theory

Fan, Zhi-Ping; Zhang, Xiao; Chen, Fadong; Liu, Yang

Multiple attribute decision making considering aspiration-levels : A method based on prospect theory

Dateien

Zu diesem Dokument gibt es keine Dateien.

Datum

2013

Autor:innen

Fan, Zhi-Ping

Zhang, Xiao

Chen, Fadong

Liu, Yang

DOI (zitierfähiger Link)

https://doi.org/10.1016/j.cie.2013.02.013

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Computers & Industrial Engineering. 2013, 65(2), pp. 341-350. ISSN 0360-8352. eISSN 1879-0550. Available under: doi: 10.1016/j.cie.2013.02.013

Zusammenfassung

In this paper, a method based on prospect theory is proposed to solve the multiple attribute decision making (MADM) problem considering aspiration-levels of attributes, where attribute values and aspiration-levels are represented in two different formats: crisp numbers and interval numbers. According to the idea of prospect theory, aspiration-levels are firstly regarded as the reference points, and the four possible types for comparing an attribute value with an aspiration-level are described. Then, for all possible cases of the four types, the calculation formulae of gains and losses of alternatives concerning attributes are given. By calculating gain and loss of each alternative, a gain matrix and a loss matrix are constructed, respectively. Further, using the value function proposed in prospect theory and the simple additive weighting method, the overall prospect value of each alternative is calculated. Based on the obtained overall prospect values, a ranking of alternatives can be determined. Finally, a numerical example is used to illustrate the use of the proposed method.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Multiple attribute decision making (MADM), Aspiration-level, Prospect theory, Gain, Loss, Ranking

Zitieren

ISO 690

FAN, Zhi-Ping, Xiao ZHANG, Fadong CHEN, Yang LIU, 2013. Multiple attribute decision making considering aspiration-levels : A method based on prospect theory. In: Computers & Industrial Engineering. 2013, 65(2), pp. 341-350. ISSN 0360-8352. eISSN 1879-0550. Available under: doi: 10.1016/j.cie.2013.02.013

BibTex

@article{Fan2013-06Multi-42420,
  year={2013},
  doi={10.1016/j.cie.2013.02.013},
  title={Multiple attribute decision making considering aspiration-levels : A method based on prospect theory},
  number={2},
  volume={65},
  issn={0360-8352},
  journal={Computers & Industrial Engineering},
  pages={341--350},
  author={Fan, Zhi-Ping and Zhang, Xiao and Chen, Fadong and Liu, Yang}
}

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