An Intuitionistic Fuzzy Stochastic Decision-Making Method Based on Case-Based Reasoning and Prospect Theory

Date

2017-04-24

Advisors

Journal Title

Journal ISSN

ISSN

Volume Title

Publisher

Hindawi

Type

Article

Peer reviewed

Yes

Abstract

According to the case-based reasoning method and prospect theory, this paper mainly focuses on finding a way to obtain decision-makers’ preferences and the criterion weights for stochastic multicriteria decision-making problems and classify alternatives. Firstly, we construct a new score function for an intuitionistic fuzzy number (IFN) considering the decision-making environment. Then, we aggregate the decision-making information in different natural states according to the prospect theory and test decision-making matrices. A mathematical programming model based on a case-based reasoning method is presented to obtain the criterion weights. Moreover, in the original decision-making problem, we integrate all the intuitionistic fuzzy decision-making matrices into an expectation matrix using the expected utility theory and classify or rank the alternatives by the case-based reasoning method. Finally, two illustrative examples are provided to illustrate the implementation process and applicability of the developed method.

Description

Open Access article

Keywords

Citation

Li, P., Yang, Y. and Wei, C. (2017) An Intuitionistic Fuzzy Stochastic Decision-Making Method Based on Case-Based Reasoning and Prospect Theory. Mathematical Problems in Engineering, 2017 Article 2874954

Rights

Research Institute

Institute of Artificial Intelligence (IAI)