Abstract
In our daily life, we could be confronted with numerous multiple attribute group decision making (MAGDM) problems. For such problems we designed a model which employs probabilistic linguistic MABAC (multi-attributive border approximation area comparison) based on the cumulative prospect theory (CPT-PL-MABAC) method to solve the MAGDM. The CPT-PL-MABAC method can take experts’ psychological behaviour and preferences into consideration. Furthermore, we utilize the combined weight consisting of subjective weight and objective weight. The objective weight is acquired by the entropy method. Additionally, the concrete calculating steps of CPT-PL-MABAC method are proposed to solve the MAGDM for selecting the optimal location of express distribution centre. Also, a numerical example for location selection of express distribution centre is given as the justification of the usefulness of the designed method. Finally, we compare the designed model with the other three existing models, and summarize the advantages and shortcomings.
Highlights
Multiple attribute decision making (MADM) or multiple attribute group decision making (MAGDM) is an effective approach to solve complex decision-making issues (Huang et al, 2021; Lei et al, 2021; Liu et al, 2018; Zhang D. et al, 2021; Zhang et al, 2018)
This method has unambiguous logic and relatively simple calculation, and expresses the DM’s psychological state, which is closer to reality; (2) we improved the entropy method, which is characterized by the mean value of attributes as the reference point; (3) the combined attribute weights are obtained through objective weight by the entropy method and by getting the subjective weight given by decision makers; (4) the effectiveness and stability of this new method is fully testified by taking advantage of a case about location selection of express distribution centre and comparisons with the existing methods
In the cumulative prospect theory (CPT) (Tversky and Kahneman, 1992), DMs will go through two stages when they are faced with choices and make decisions: editing stage and evaluation stage
Summary
Multiple attribute decision making (MADM) or multiple attribute group decision making (MAGDM) is an effective approach to solve complex decision-making issues (Huang et al, 2021; Lei et al, 2021; Liu et al, 2018; Zhang D. et al, 2021; Zhang et al, 2018). The PLMABAC based on cumulative prospect theory (CPT-PL-MABAC) method in this paper is defined to solve the location selection of express distribution centre, which is a classical MAGDM issue. This article makes contributions as follows: (1) the concept of CPT is integrated into the PL-MABAC method for MAGDM This method has unambiguous logic and relatively simple calculation, and expresses the DM’s psychological state, which is closer to reality; (2) we improved the entropy method, which is characterized by the mean value of attributes as the reference point; (3) the combined attribute weights are obtained through objective weight by the entropy method and by getting the subjective weight given by decision makers; (4) the effectiveness and stability of this new method is fully testified by taking advantage of a case about location selection of express distribution centre and comparisons with the existing methods. The main contributions of this paper, the limitations of the new method and future research directions are included
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