Dynamic Stochastic Multiattribute Decision-Making That Considers Stochastic Variable Variance Characteristics under Time-Sequence Contingency Environments

Zao-li Yang and Lu-cheng Huang

Mathematical Problems in Engineering, 2017, vol. 2017, 1-9

Abstract:

This paper presents a dynamic stochastic decision-making method that considers the characteristics of stochastic variable variances under time-sequence contingency environments for solving stochastic decision-making problems with information from different periods and of indeterminate attribute weights. First, time-sequence weights are obtained using the technique for order preference by similarity to ideal solution (TOPSIS), corresponding with the idea of “stressing the present rather than the past.” After determining the time degree and fully considering the characteristics of normally distributed stochastic variable variances, the attribute weight is determined based on vertical projection distance. Decision-making information is then assembled from two dimensions of time-sequence and attributes, based on the two categories of weighted arithmetic averaging operators of normally distributed stochastic variables, resulting in comprehensive dynamic decision-making from single solution dimensions and a priority sequence of solutions per the order relation criteria of normally distributed stochastic variables. Finally, the validity and practicability of the methods proposed in this paper are verified using an example numerical analysis.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:7126856

DOI: 10.1155/2017/7126856

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