Abstract
For the multiple criteria decision-making (MCDM) problem with interval-valued probabilistic linguistic information, we propose a novel method considering the regret theory and cobweb area model. We first propose a new score function, which can be used to compare different interval-valued probabilistic linguistic term sets (IVPLTSs) and transform the IVPLTSs into crisp numbers. Some properties of the score function are verified. Then, we utilize the regret theory to obtain the perceived utilities of decision makers (DMs), which can reflect the DMs’ bounded rationality. Furthermore, we use the cobweb area model to aggregate decision information. Finally, a real case of evaluating nursing homes is used to illustrate the effectiveness and features of our method.
Highlights
Multiple criteria decision-making (MCDM) widely exists in all aspects of human life
A suitable score function should be flexible and can reflect preference of decision makers (DMs). erefore, in this paper, we will propose a novel decision-making method for interval-valued probabilistic linguistic term set (IVPLTS) based on regret theory and apply the method to the problem of selecting nursing homes for a hospital. e main contributions of our method can be concluded as follows: (1) We propose a new score function for IVPLTSs containing risk parameter and preference parameter of DMs
We put forward a new decision method for IVPLTS based on regret theory
Summary
Multiple criteria decision-making (MCDM) widely exists in all aspects of human life. In the real decision environment, due to the complexity of decision-making problems and the limited personal knowledge of decision makers (DMs), it is difficult for DMs to express their preference information with crisp values. Jin et al [10] proposed the basic operation rules and aggregation operators of uncertain probabilistic linguistic term set (UPLTS) and extended the traditional TOPSIS method to the UPLTS environment. Krishankumar et al [11] proposed interval-valued probabilistic linguistic simple weighted geometry (IVPLSWG) to aggregate preference information of decision makers and extended the VIKOR method to the decision environment of IVPLTS. Erefore, in this paper, we will propose a novel decision-making method for IVPLTSs based on regret theory and apply the method to the problem of selecting nursing homes for a hospital. (2) We present a novel decision-making method for IVPLTSs using regret theory and cobweb area model, which can effectively reflect the bounded rationality of DMs and relieve the problem that some extremely large or small values exert too much influence on the final decision result.
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