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Approaches to Pythagorean Fuzzy Stochastic Multi‐criteria Decision Making Based on Prospect Theory and Regret Theory with New Distance Measure and Score Function
Author(s) -
Peng Xindong,
Dai Jingguo
Publication year - 2017
Publication title -
international journal of intelligent systems
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.291
H-Index - 87
eISSN - 1098-111X
pISSN - 0884-8173
DOI - 10.1002/int.21896
Subject(s) - pythagorean theorem , regret , prospect theory , measure (data warehouse) , axiom , score , mathematics , mathematical optimization , fuzzy logic , decision theory , preference , function (biology) , fuzzy measure theory , computer science , axiomatic system , artificial intelligence , fuzzy set , membership function , data mining , machine learning , statistics , geometry , evolutionary biology , biology , finance , economics
In this paper, we initiate a new axiomatic definition of Pythagorean fuzzy distance measure, which is expressed by Pythagorean fuzzy number that will reduce the information loss and remain more original information. Then, the objective weights of various criteria are determined via grey system theory. Combining objective weights with subjective weights, we present the combined weights, which can reflect both the subjective considerations of the decision maker and the objective information. Meanwhile, a novel score function is proposed. Later, we present two algorithms to solve stochastic multicriteria decision making problem, which takes prospect preference and regret aversion of decision makers into consideration in the decision process. Finally, the effectiveness and feasibility of approach is demonstrated by a numerical example.