A Method Based on Grey Theory for Multiple Attribute Group Decision-Making Considering Decision Makers’ Risk Attitudes

Fang Wang (), Hua Li () and Meng-zhe Jia
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Fang Wang: Xidian University
Hua Li: Xidian University
Meng-zhe Jia: Xidian University

A chapter in Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, 2013, pp 1171-1177 from Springer

Abstract: Abstract A new method is developed for solving multiple attribute group decision-making (MAGDM) problems considering decision makers’ risk attitudes, where attribute values are represented in interval grey numbers with incomplete weight information. In the proposed method, the risk attitude factors of decision makers are introduced, and interval values are transformed into exact values. Then, the weight vector of the decision makers for attributes is obtained by using the gray autocorrelation matrix. Further, the grey correlation matrix is employed to rank the alternatives. Finally, an example is used to illustrate the applicability of the proposed method.

Keywords: Grey theory; Incomplete weight information; Multiple attribute group decision making (MAGDM); Risk attitude (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-40072-8_116

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DOI: 10.1007/978-3-642-40072-8_116

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