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Probabilistic-based expressions in behavioral multi-attribute decision making considering pre-evaluation

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Abstract

A behavioral multi-attribute decision making (BMADM) problem with probabilistic-based expressions is studied by considering decision-maker’s (DM) risk attitude and pre-evaluation. With consideration of information expressions for uncertainty, probabilistic interval numbers (PINs) and probabilistic linguistic terms (PLTs) are utilized to depict pre-evaluation information with respect to quantitative and qualitative attributes, respectively. Then surrounding the two kinds of probabilistic-based expressions, we propose a BMADM method with DM’s risk attitude being included based on regret theory. First, through taking into account characteristics of risk, we develop a basic utility function and a regret–rejoice function by considering risk-averse, risk-neutral and risk-seeking preference coefficients. Second, risk-based utility functions are examined for measuring PINs and PLTs. The third element is the establishment of optimization models for handling probability incompleteness to fully utilize the information. In the fourth step, a weighted comprehensive risk-based utility measurement is presented as a basis for making a selection. The final phase of the research is the application of the proposed method to one case, along with sensitivity and comparative analyses, as a means of illustrating the applicability and feasibility of the new method.

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Acknowledgements

This work was supported in part by the China Postdoctoral Science Foundation under Grant 2019M660411, in part by the Humanities Social Sciences Foundation of the Ministry of Education of China under Grant 18YJC630249, in part by the National Natural Science Foundation of China under Grant 71601002, and in part by the Anhui Provincial Natural Science Foundation under Grant 1708085MG168.

Funding

This work was funded in part by the China Postdoctoral Science Foundation under Grant 2019M660411, in part by the Humanities Social Sciences Foundation of the Ministry of Education of China under Grant 18YJC630249, in part by the National Natural Science Foundation of China under Grant 71601002, and in part by the Anhui Provincial Natural Science Foundation under Grant 1708085MG168.

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Authors and Affiliations

  1. School of Economics and Management, Beihang University, Beijing, 100191, People’s Republic of China

    Zhenzhen Ma

  2. College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, 211106, Jiangsu Province, People’s Republic of China

    Jianjun Zhu

  3. School of Mathematics and Physics Science and Engineering, Anhui University of Technology, Ma’anshan, 243002, Anhui, People’s Republic of China

    Shitao Zhang

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  1. Zhenzhen Ma
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  2. Jianjun Zhu
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Correspondence to Shitao Zhang.

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Ma, Z., Zhu, J. & Zhang, S. Probabilistic-based expressions in behavioral multi-attribute decision making considering pre-evaluation. Fuzzy Optim Decis Making 20, 145–173 (2021). https://doi.org/10.1007/s10700-020-09335-8

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