A Novel IVPLTS Decision Method Based on Regret Theory and Cobweb Area Model

Peng Li and Huanhuan Peng

Mathematical Problems in Engineering, 2020, vol. 2020, 1-10

Abstract:

For the multiple criteria decision-making (MCDM) problem with interval-valued probabilistic linguistic information, we propose a novel method considering the regret theory and cobweb area model. We first propose a new score function, which can be used to compare different interval-valued probabilistic linguistic term sets (IVPLTSs) and transform the IVPLTSs into crisp numbers. Some properties of the score function are verified. Then, we utilize the regret theory to obtain the perceived utilities of decision makers (DMs), which can reflect the DMs’ bounded rationality. Furthermore, we use the cobweb area model to aggregate decision information. Finally, a real case of evaluating nursing homes is used to illustrate the effectiveness and features of our method.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:5649525

DOI: 10.1155/2020/5649525

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