An Intuitionistic Fuzzy Stochastic Decision-Making Method Based on Case-Based Reasoning and Prospect Theory

According to the case-based reasoning method and prospect theory, this paper mainly focuses on finding a way to obtain decision-makers’ preferences and the criterion weights for stochastic multicriteria decision-making problems and classify alternatives. Firstly, we construct a new score function for an intuitionistic fuzzy number (IFN) considering the decision-making environment. Then, we aggregate the decision-making information in different natural states according to the prospect theory and test decision-making matrices. A mathematical programming model based on a case-based reasoning method is presented to obtain the criterion weights. Moreover, in the original decision-making problem, we integrate all the intuitionistic fuzzy decision-making matrices into an expectation matrix using the expected utility theory and classify or rank the alternatives by the case-based reasoning method. Finally, two illustrative examples are provided to illustrate the implementation process and applicability of the developed method.

[1]  Keith W. Hipel,et al.  Screening in multiple criteria decision analysis , 2008, Decis. Support Syst..

[2]  S. M. Mousavi,et al.  A new design of the elimination and choice translating reality method for multi-criteria group decision-making in an intuitionistic fuzzy environment , 2013 .

[3]  Ying-Ming Wang,et al.  A prospect theory-based interval dynamic reference point method for emergency decision making , 2015, Expert Syst. Appl..

[4]  Shyi-Ming Chen,et al.  A novel similarity measure between Atanassov's intuitionistic fuzzy sets based on transformation techniques with applications to pattern recognition , 2015, Inf. Sci..

[5]  Carl Evans,et al.  Re-thinking case-based assessments in business management education , 2016 .

[6]  Guohe Huang,et al.  A fuzzy-stochastic power system planning model: Reflection of dual objectives and dual uncertainties , 2017 .

[7]  Jian-qiang Wang,et al.  Some new operation rules and a new ranking method for interval-valued intuitionistic linguistic numbers , 2017, J. Intell. Fuzzy Syst..

[8]  Pu Wang,et al.  A soft-sensing method of dissolved oxygen concentration by group genetic case-based reasoning with integrating group decision making , 2015, Neurocomputing.

[9]  Jun Ye,et al.  Improved method of multicriteria fuzzy decision-making based on vague sets , 2007, Comput. Aided Des..

[10]  Taehoon Hong,et al.  A dynamic energy performance curve for evaluating the historical trends in the energy performance of existing buildings using a simplified case-based reasoning approach , 2015 .

[11]  Jufen Yang,et al.  Development of an enhanced route choice model based on cumulative prospect theory , 2014 .

[12]  Niels Schütze,et al.  A Fuzzy-Stochastic Modeling Approach for Multiple Criteria Decision Analysis of Coupled Groundwater-Agricultural Systems , 2016, Water Resources Management.

[13]  Hong-yu Zhang,et al.  Grey stochastic multi-criteria decision-making based on regret theory and TOPSIS , 2017, Int. J. Mach. Learn. Cybern..

[14]  Yafei Song,et al.  A distance measure between intuitionistic fuzzy belief functions , 2015, Knowl. Based Syst..

[15]  Zhou Ling,et al.  Grey-stochastic multi-criteria decision-making approach based on prospect theory , 2010 .

[16]  S. Meysam Mousavi,et al.  An extended compromise ratio model with an application to reservoir flood control operation under an interval-valued intuitionistic fuzzy environment , 2014 .

[17]  Zhu Jian-jun.  Intuitionistic fuzzy stochastic multi-criteria decision-making methods based on prospect theory , 2012 .

[18]  Shyi-Ming Chen,et al.  Handling multicriteria fuzzy decision-making problems based on vague set theory , 1994 .

[19]  Zeshui Xu,et al.  Intuitionistic Fuzzy Aggregation Operators , 2007, IEEE Transactions on Fuzzy Systems.

[20]  S. Meysam Mousavi,et al.  A new fuzzy multi-objective optimisation method with desirability function under uncertainty , 2016, Int. J. Appl. Decis. Sci..

[21]  Jianqiang Wang,et al.  Stochastic multicriteria decision-making approach based on SMAA-ELECTRE with extended gray numbers , 2019, Int. Trans. Oper. Res..

[22]  Yao Zhang,et al.  Risk decision analysis in emergency response: A method based on cumulative prospect theory , 2014, Comput. Oper. Res..

[23]  LI Jing-jing.  Intuitionistic random multi-criteria decision-making approach based on score functions , 2010 .

[24]  Lei Sun,et al.  Why do employees like to be paid with Options?: A multi-period prospect theory approach , 2016 .

[25]  Xiaohong Chen,et al.  Consensus model for multi-criteria large-group emergency decision making considering non-cooperative behaviors and minority opinions , 2015, Decis. Support Syst..

[26]  Hong-yu Zhang,et al.  Interval-valued intuitionistic fuzzy multi-criteria decision-making approach based on prospect score function , 2012, Knowl. Based Syst..

[27]  Mousavi Seyed Meysam,et al.  Designing a model of intuitionistic fuzzy VIKOR in multi-attribute group decision-making problems , 2016 .

[28]  Xin Zhang,et al.  Research on the multi-attribute decision-making under risk with interval probability based on prospect theory and the uncertain linguistic variables , 2011, Knowl. Based Syst..

[29]  S. M. Mousavi,et al.  A Compromise Ratio Method with an Application to Water Resources Management: An Intuitionistic Fuzzy Set , 2013, Water Resources Management.

[30]  S. Meysam Mousavi,et al.  A NEW MULTI-OBJECTIVE OPTIMIZATION APPROACH FOR SUSTAINABLE PROJECT PORTFOLIO SELECTION: A REALWORLD APPLICATION UNDER INTERVAL-VALUED FUZZY ENVIRONMENT , 2016 .

[31]  Ming-Chuan Chiu,et al.  A case-based method for service-oriented value chain and sustainable network design , 2015, Adv. Eng. Informatics.

[32]  Jian-qiang Wang,et al.  An Interval Type-2 Fuzzy Likelihood-Based MABAC Approach and Its Application in Selecting Hotels on a Tourism Website , 2017, Int. J. Fuzzy Syst..

[33]  Masahiro Inuiguchi,et al.  Fuzzy Multi-Criteria Optimization: Possibilistic and Fuzzy/Stochastic Approaches , 2016 .

[34]  Reza Tavakkoli-Moghaddam,et al.  An intuitionistic fuzzy grey model for selection problems with an application to the inspection planning in manufacturing firms , 2015, Eng. Appl. Artif. Intell..

[35]  Yao Zhang,et al.  Generating project risk response strategies based on CBR: A case study , 2015, Expert Syst. Appl..

[36]  Hong-yu Zhang,et al.  An Extended Outranking Approach to Rough Stochastic Multi-criteria Decision-Making Problems , 2016, Cognitive Computation.

[37]  Jing Wang,et al.  An extended TODIM approach with intuitionistic linguistic numbers , 2018, Int. Trans. Oper. Res..

[38]  Zeshui Xu,et al.  A survey of approaches to decision making with intuitionistic fuzzy preference relations , 2015, Knowl. Based Syst..

[39]  Krassimir T. Atanassov,et al.  Intuitionistic fuzzy sets , 1986 .

[40]  Jian-qiang Wang,et al.  An approach to interval-valued intuitionistic stochastic multi-criteria decision-making using set pair analysis , 2018, Int. J. Mach. Learn. Cybern..

[41]  Shu-Ping Wan,et al.  Fuzzy mathematical programming approach to heterogeneous multiattribute decision-making with interval-valued intuitionistic fuzzy truth degrees , 2015, Inf. Sci..