Grey-stochastic multi-criteria decision-making approach based on prospect theory

Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice

Volumn 30, Issue 9, 2010, Pages 1658-1664

  Wang, Jian Qiang ^a   Zhou, Ling ^a  

^a CENTRAL SOUTH UNIVERSITY   (China)

Author keywords

Grey stochastic; Interval grey number probability; Multi criteria decision making; Prospect theory

Indexed keywords

EXPECTED VALUES; GREY-STOCHASTIC; INTERVAL GREY NUMBER; MULTI-CRITERIA DECISION-MAKING; PROGRAMMING MODELS; PROSPECT THEORY; PROSPECT VALUE; REFERENCE POINTS;

DECISION THEORY; PROBABILITY; STOCHASTIC SYSTEMS;

DECISION MAKING;

EID: 78149488452     PISSN: 10006788     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (16)

1. Luo D, Liu S F. Research on grey multi-criteria risk decision-making method[J]. Systems Engineering and Electronics, 2004, 26(8): 1057-1060.
2. Qin Y H, Luo D. Grey multiple criteria decision making method under risk based on priority index[J]. Journal of Henan Institute of Education: Natural Science, 2007, 16(3): 4-6.
3. Luo D, Zhou L, Luo D X. Grey multi-attribute risk group decision-making method[J]. Systems Engineering and Electronics, 2008, 30(9): 1674-1678.
4. Wang J Q, Ren S C. Grey random multi-criteria decision-making approach based on expected value[J]. Control and Decision, 2009, 24(1): 39-43.
5. Wang J Q, Ren S C, Chen X H. Superiority and inferiority ranking method for grey random multi-criteria decision-making[J]. Control and Decision, 2009, 25(5): 701-705.
6. Rao C J, Xiao X P. Method of grey matrix relative degree for dynamic hybrid multi-attribute decision making under risk[J]. Systems Engineering and Electronics, 2006, 28(9): 1353-1357.
7. He D Y. Decision-making under the condition of probability interval by maximum entropy principle[J]. Operations Research and Management Science, 2007, 16(6): 74-78.
8. Tong Y J, Wang Z G. A risk based multi-objective decision-making method when the probability is interval gray number[J]. Science and Technology of West China, 2008, 7(5): 37-38.
9. Kahneman D, Tversky A. Prospect theory: An analysis of decision under risk[J]. Economica, 1979, 47(2): 263-291.
10. Tversky A, Kahneman D. Advances in prospect theory: Cumulative representation of uncertainty[J]. Journal of Risk and Uncertainty, 1992(10): 297-323.
11. Lahdelma R, Salminen P. Prospect theory and stochastic multicriteria acceptability analysis (SMAA)[J]. Omega, 2009, 37(5): 961-971.
12. Wang J Q, Sun T, Chen X H. Multi-criteria fuzzy decision-making method based on prospect theory with incomplete information[J]. Control and Decision, 2009, 24(8): 1198-1202.
13. Xie N M, Liu S F. On comparing grey numbers with their probability distributions[J]. Systems Engineering-Theory & Practice, 2009, 29(4): 169-175.
14. Zhou R C. Rational number power of interval form grey number and its operation[J]. Journal of North China Institute of Water Conservancy and Hydroelectric Power, 1995, 16(1): 16-20.
15. Gonzalez G W R. Curvature of the probability weighting function[J]. Management Science, 1996, 42: 1676-1690.
16. Li G D, Yamaguchi D, Nagai M. A grey-based decision-making approach to the supplier selection problem[J]. Mathematical and Computer Modeling, 2007, 46(5/6): 573-581.