A probabilistic linguistic thermodynamic method based on the water-filling algorithm and regret theory for emergency decision making

Wenting Xue, Zeshui Xu and Wuhui Lu

Economic Research-Ekonomska Istraživanja, 2023, vol. 36, issue 1, 2076141

Abstract: Since thermodynamics can describe the energy of matter and its form of storage or transformation in the system, it is introduced to resolve the uncertain decision-making problems. The paper proposes the thermodynamic decision-making method which considers both the quantity and quality of the probabilistic linguistic decision information. The analogies for thermodynamical indicators: energy, exergy and entropy are developed under the probabilistic linguistic circumstance. The probabilistic linguistic thermodynamic method combines the regret theory which captures decision makers’ regret-aversion and the objective weight of criterion obtained by the water-filling algorithm. The proposed method is applied to select the optimal solution to respond to the floods in Chongqing, China. The self-comparison is conducted to verify the effectiveness of the objective weight obtained by the water-filling algorithm and regret theory in the probabilistic linguistic thermodynamic method. The reliability and feasibility of the proposed method are verified by comparative analysis with other decision-making methods by some simulation experiments and non-parametric tests.

Date: 2023
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DOI: 10.1080/1331677X.2022.2076141

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