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TODIM Method Based on Cumulative Prospect Theory for Multiple Attributes Group Decision Making Under Probabilistic Hesitant Fuzzy Setting

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Abstract

In the era of uncertain information everywhere, the Probabilistic Hesitant Fuzzy sets (PHFs), utilizing the possible numbers and its possible membership degrees to descript decision-makers’ behavior, has been brought about widespread attention. Scholars from all over the world applied numerous approaches in this environment since Probabilistic Hesitant Fuzzy sets (PHFs) has been come up with, and there are still untapped territories. The TODIM (TOmada deDecisão Iterativa Multicrite´rio) method is a common decision-making method which is based on the prospect theory (PT). Unlike the other multiple criteria decision making (MCDM) methods, the TODIM method think over the bounded rationality of decision makers to choose the optimal alternative according to the decision maker’s psychological reality. In this essay, we introduce the Extended TODIM Based on Cumulative Prospect Theory (CPT) for probabilistic hesitant fuzzy multiple attributes group decision-making (MAGDM). In addition, the entropy is applied to calculate the weights between attributes. Finally, the developed method is used to solve the decision-making case study. To test the reasonability of this new method, we utilize a numerical case to compare the extended TODIM method with other methods.

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Authors and Affiliations

  1. School of Business, Sichuan Normal University, Chengdu, 610101, People’s Republic of China

    Ningna Liao & Guiwu Wei

  2. School of Accounting, Southwestern University of Finance and Economics, Chengdu, 611130, People’s Republic of China

    Xudong Chen

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  1. Ningna Liao
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  2. Guiwu Wei
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  3. Xudong Chen
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Correspondence to Guiwu Wei.

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Liao, N., Wei, G. & Chen, X. TODIM Method Based on Cumulative Prospect Theory for Multiple Attributes Group Decision Making Under Probabilistic Hesitant Fuzzy Setting. Int. J. Fuzzy Syst. 24, 322–339 (2022). https://doi.org/10.1007/s40815-021-01138-2

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