A fuzzy multi-attribute decision-making method under risk with unknown attribute weights

Abstract This paper aims at solving hybrid multiple attributes decision-making problems under risk with attribute weight known and a new decision approach based on entropy weight and TOPSIS is proposed. First, the risk decision matrix is transformed into the certain decision matrix based on the expectation value. Then, the deviation entropy weight method is used to determine the attribute weights. And according to the definitions of the distance and the positive/negative ideal solutions for different data types, the relative closeness coefficients can be calculated by TOPSIS. Furthermore, the alternatives are ranked by the relative closeness coefficients. Finally, an application case is given to demonstrate the steps and effectiveness of the proposed approach.

[1]  Claude E. Shannon,et al.  A Mathematical Theory of Communications , 1948 .

[2]  C. E. SHANNON,et al.  A mathematical theory of communication , 1948, MOCO.

[3]  Ching-Lai Hwang,et al.  Multiple Attribute Decision Making: Methods and Applications - A State-of-the-Art Survey , 1981, Lecture Notes in Economics and Mathematical Systems.

[4]  W. Wangming Fuzzy reasoning and fuzzy relational equations , 1986 .

[5]  Ching-Lai Hwang,et al.  Fuzzy Multiple Attribute Decision Making - Methods and Applications , 1992, Lecture Notes in Economics and Mathematical Systems.

[6]  Risky Multiobjective Decision-Making Theory and Its Application , 2003 .

[7]  WU Qi-zong,et al.  A technique of order preference by similarity to ideal solution for hybrid multiple attribute decision making problems , 2004 .

[8]  Liu Si-feng Research on grey multi-criteria risk decision-making method , 2004 .

[9]  Study for Multi-attribute Mixed Decision Making Model Basing on the Connection Number , 2005 .

[10]  Jing-nan Sun,et al.  Entropy method for determination of weight of evaluating indicators in fuzzy synthetic evaluation for water quality assessment. , 2006, Journal of environmental sciences.

[11]  Mohammad Izadikhah,et al.  Extension of the TOPSIS method for decision-making problems with fuzzy data , 2006, Appl. Math. Comput..

[12]  Rao Cong-jun,et al.  Method of grey matrix relative degree for dynamic hybrid multi-attribute decision making under risk , 2006 .

[13]  Mohammad Izadikhah,et al.  An algorithmic method to extend TOPSIS for decision-making problems with interval data , 2006, Appl. Math. Comput..

[14]  Yao Yun Multiple Mixed-attribute Decision Making Method Based on Possibility Degree , 2006 .

[15]  Qi Huan Technique of hybrid multiple attribute decision making based on similarity degree to ideal solution , 2007 .

[16]  A Technique of Entropy for Hybrid Multiple Attribute Decision Making Problems , 2007 .

[17]  Valentinas Podvezko,et al.  Evaluating the alternative solutions of wall insulation by multicriteria methods , 2008 .

[18]  Edmundas Kazimieras Zavadskas,et al.  SELECTION OF THE EFFECTIVE DWELLING HOUSE WALLS BY APPLYING ATTRIBUTES VALUES DETERMINED AT INTERVALS , 2008 .

[19]  Ting-Yu Chen,et al.  The interval-valued fuzzy TOPSIS method and experimental analysis , 2008, Fuzzy Sets Syst..

[20]  Ö. Aydin,et al.  A new software development for Fuzzy Multicriteria decision‐making , 2009 .

[21]  Peide Liu,et al.  Multi‐attribute decision‐making method research based on interval vague set and TOPSIS method , 2009 .

[22]  Romualdas Ginevičius,et al.  Quantitative evaluation of unrelated diversification of enterprise activities , 2009 .

[23]  Liu Pei-de Short communication: A novel method for hybrid multiple attribute decision making , 2009 .

[24]  Tien-Chin Wang,et al.  Developing a fuzzy TOPSIS approach based on subjective weights and objective weights , 2009, Expert Syst. Appl..

[25]  Edmundas Kazimieras Zavadskas,et al.  Risk assessment of construction projects , 2010 .

[26]  Edmundas Kazimieras Zavadskas,et al.  Contractor selection for construction works by applying saw‐g and topsis grey techniques , 2010 .

[27]  Peide Liu,et al.  Research on the supplier selection of a supply chain based on entropy weight and improved ELECTRE-III method , 2011 .