Cumulative Prospect Theory: Performance Evaluation of Government Purchases of Home-Based Elderly-Care Services Using the Pythagorean 2-tuple Linguistic TODIM Method

Jianping Lu, Tingting He, Guiwu Wei, Jiang Wu and Cun Wei
Additional contact information
Jianping Lu: School of Business, Sichuan Normal University, Chengdu 610101, China
Tingting He: School of Business, Sichuan Normal University, Chengdu 610101, China
Guiwu Wei: School of Business, Sichuan Normal University, Chengdu 610101, China
Jiang Wu: School of Statistics, Southwestern University of Finance and Economics, Chengdu 611130, China
Cun Wei: School of Statistics, Southwestern University of Finance and Economics, Chengdu 611130, China

IJERPH, 2020, vol. 17, issue 6, 1-21

Abstract: The aging trend of China’s population is increasing, and the pension problem is becoming increasingly prominent. The pension mode provided by the government alone can no longer meet the social demand, and the government’s purchase of home-based care services from social organizations has become a new trend. In order to improve the efficiency and quality of pension services, a reasonable performance evaluation model needs to be established. Performance evaluations of home-based elderly-care services purchased by the government are problematic as a result of multiple-attribute group decision-making (MAGDM), as the problems are not single-attribute or single-expert issues. The extended TODIM not only integrates the advantages of cumulative prospect theory (CPT) into a consideration of the psychological factors of DMs, but also retains the superiority of the classical TODIM in relative dominance. The Pythagorean 2-tuple linguistic sets (P2TLSs) could easily depict qualitative assessment information related to the government’s purchase of home-based care services. Thus, in this paper, we extend the TODIM method based on the cumulative prospect theory (CPT) to the Pythagorean 2-tuple linguistic sets (P2TLSs) and propose a Pythagorean 2-tuple linguistic CPT-TODIM (P2TL-CPT-TODIM) method for MAGDM. The P2TL-CPT-TODIM method was proven superior to the classical one through a case study that included a performance evaluation of a home-based elderly-care service purchased by the government. Meanwhile, a comparison with the P2TL-CPT-TODIM method was performed to demonstrate the stability and effectiveness of the designed method.

Keywords: multiple attribute group decision making (MAGDM); Pythagorean 2-tuple linguistic sets (P2TLSs); TODIM method; cumulative prospect theory (CPT); performance evaluation; home-based elderly-care service (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1660-4601/17/6/1939/pdf (application/pdf)
https://www.mdpi.com/1660-4601/17/6/1939/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jijerp:v:17:y:2020:i:6:p:1939-:d:333042

Access Statistics for this article

IJERPH is currently edited by Ms. Jenna Liu

More articles in IJERPH from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().