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A New Multi-attribute Decision-Making Method with Three-Parameter Interval Grey Linguistic Variable

Research paper by Cunbin Li, Jiahang Yuan

Indexed on: 24 Aug '16Published on: 24 Aug '16Published in: International Journal of Fuzzy Systems



Abstract

In consideration of the fuzziness and the uncertainty in decision information, this paper proposes a three-parameter interval grey linguistic variable decision-making method based on projection model and prospect theory. First, some properties are defined, such as the concepts and the relational calculation rules of grey additive linguistic variables. Second, considering the decision maker’s subjective information and the attribute’s objective information, a mathematical model is constructed to obtain the attribute weights. Third, based on the new definitions of the prospect values, the comprehensive prospect values are calculated viewing dynamic alternatives as the reference point, and a ranking of alternatives is obtained. At last, an illustrative example is taken in the present study to make the proposed method comprehensible.