A hybrid interval evidential reasoning-regret decision making model and its application to the behavior of Chinese herbal medicine planting selection

Abstract

This paper studies the optimal selection of planting Chinese Herbal Medicine (CHM), which has many attributes and stakeholders, and where some assessment information cannot be obtained directly from the official websites. The assessment information is categorized into two groups: precise and interval numbers that can be obtained from the official sites, and precise information obtained through expert surveys and questionnaires. A three-step group decision-making mechanism is proposed for the CHM problem. First, an analytical method based on interval evidence reasoning is formed to unify different forms of information into the same interval belief structure. Next, a model based on the geometric area method is formed to obtain the weights of the attributes. Third, the extended interval regret theory is used to rank the alternative solutions. Applying perceived utility value and the ranking of the alternatives, an optimal solution for planting CHM is found. Comparative and sensitivity analyses highlight the flexibility and reliability of the suggested solution. By evaluating the various parameters, decision-makers in CHM can prioritize their decisions for maximal benefit.