Grey-stochastic multi-criteria decision-making approach based on prospect theory

As for the grey-stochastic multi-criteria decision-making problems in which probabilities and the criteria value of alternatives are both interval grey numbers,a decision-making approach based on prospect theory is proposed.In this method,as the interval grey number comparison is defined firstly,a prospect value function of interval grey numbers can be defined and the prospect value of each alternative are calculated based on all other alternatives as the reference point.After that a programming model which satisfies the algorithm of maximizing deviation can be enacted.After that,the criteria weights are attained and the order of alternatives can be listed by comparing the prospect value of each alternative. Finally,the feasibility and validity of this approach are illustrated by an example compared with grey random multi-criteria decision-making approach based on expected value illustrated.