A Grey Incidence Based Group Decision-Making Approach and Its Application

Huanhuan Zhao, Yunbo Yu, Sunping Qu and Yong Liu
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Huanhuan Zhao: School of Management, Wuxi Institute of Technology, Wuxi 214121, China
Yunbo Yu: School of Management, Wuxi Institute of Technology, Wuxi 214121, China
Sunping Qu: School of Management, Wuxi Institute of Technology, Wuxi 214121, China
Yong Liu: School of Business, Jiangnan University, Wuxi 214121, China

Mathematics, 2022, vol. 10, issue 7, 1-13

Abstract: We define the group measure matrix of the alternative scheme and the ideal scheme based on the relevant factor sequence and the system characteristic behavior sequence. Furthermore, the information distances of decision makers and decision criteria are defined, respectively. According to the information distance, we obtain each scheme’s grey matrix incidence degree for the scheme ranking. Finally, we use an example to verify the rationality of the model and compare it with other classic methods, such as TOPSIS, VIKOR, MULTI-MOORA. Compared with previous grey incidence analysis model, the proposed model can make full use of information of the decision-maker dimension and the criteria dimension. The proposed model can avoid high-dimensional information loss. The results show that the proposed method has superiority in measuring decision-maker information and decision-making standard information.

Keywords: group decision-making; scheme ranking; grey incidence analysis; scheme matrix (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
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