Journal of Systems Engineering and Electronics ›› 2012, Vol. 34 ›› Issue (5): 977-981.doi: 10.3969/j.issn.1001-506X.2012.05.22

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Prospect theory model for multiple criteria decision making alternative with interval number

HUANG Zhi-li1, LIU Jian2, LIU Si-feng2, ZHOU Xian-zhong3, LUO Jian1   

  1. 1. School of Information Science and Technology, Xiamen University, Xiamen 361005, China;
    2. School of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China;
    3. School of Engineering Management, Nanjing University, Nanjing 210093, China
  • Online:2012-05-23 Published:2010-01-03

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Abstract:

In view of the problem that different interval numbers have the same possibility degree values in multiple criteria  decision making (MCDM) with interval numbers, the decision makers are divided into three different types according to  their risk preferences, and three risk preferences assumption models corresponding to different type decision makers are  proposed to determine the advantage relation for interval numbers. Then the advantage relation of the alternatives and  advantage degree matrix are proposed to rank all the alternatives as well as select the best one based on the advantage  degree values of the alternatives. Finally, a realistic example is used to demonstrate that the proposed ranking  technology is a useful and effective tool.

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