Linguistic Multiple-Attribute Decision Making Based on Regret Theory and Minimax-DEA

Jinyi Hu ()
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Jinyi Hu: Pittsburgh Institute, Sichuan University, Chengdu 610207, China

Mathematics, 2023, vol. 11, issue 20, 1-14

Abstract: Given that most current linguistic multiattribute decision-making methods do not consider the optimal efficiency of decision-making units and the psychological behavior of decision makers, a linguistic multiattribute decision-making method based on regret theory, data envelopment analysis, and the minimax reference point method is proposed. First, based on the decision-maker psychology of regret and avoidance, the perceived utility value of each decision-making unit was calculated using the language regret–joy value function. The subjective and optimal efficiency values of each decision-making unit were obtained using the subjective weighting and data envelopment analysis methods, respectively. Next, we considered the best efficiency as the reference point and the subjective efficiency as the decision preference to establish a minimax reference point model. By solving the model, a set of public weights that minimizes the difference between the efficiency values of all decision-making units and their optimal efficiency values can be obtained to sort the decision-making units and select the best. The feasibility of the method was verified using an example of employee evaluation and selection; the effectiveness of the method was demonstrated through comparative analysis with other methods.

Keywords: regret theory; data envelopment analysis; minimax reference point approach; multiple-attribute decision making (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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