A multiple criteria decision making method base on relative value distances

• Autorzy: Shyur H. , Yin L. , Shih H. , Cheng C.

Identyfikatory

DOI

10.1515/fcds-2015-0017

• Języki publikacji: EN

Abstrakty

EN

This paper proposes a new multiple criteria decision-making method called ERVD (election based on relative value distances). The s-shape value function is adopted to replace the expected utility function to describe the risk-averse and risk-seeking behavior of decision makers. Comparisons and experiments contrasting with the TOPSIS (Technique for Order Preference by Similarity to the Ideal Solution) method are carried out to verify the feasibility of using the proposed method to represent the decision makers’ preference in the decision making process. Our experimental results show that the proposed approach is an appropriate and effective MCDM method.

Słowa kluczowe

EN

MCDM; prospect theory; value function; expected utility function; TOPSIS

• Wydawca: Wydawnictwo Politechniki Poznańskiej
• Czasopismo: Foundations of Computing and Decision Sciences
• Rocznik: 2015
• Tom: Vol. 40, No. 4
• Strony: 299--315
• Opis fizyczny: Bibliogr. 31 poz., tab.

Twórcy

autor

Shyur H.

• Department of Information Management, Tamkang University 151, Yingzhuan Rd., Tamsui Dist., New Taipei City 25137, Taiwan

autor

Yin L.

• Department of Management Science, Tamkang University

autor

Shih H.

• Department of Management Science, Tamkang University

autor

Cheng C.

• Department of Information Management, Tamkang University

Bibliografia

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