Risk measurement of aggregation approaches in multiple attribute decision making under uncertain information

Abstract

The decision-maker's judgment deviates from uncertain attribute information will lead to decision risk in multiple attribute decision making (MADM), and different aggregation approaches result in different risk levels. This paper aims to study the risk levels of aggregation operators in MADM with uncertain attribute information. We use the signal detection theory to characterize the decision-maker's noisy perceptions of multiple attributes to present his/her judgment deviation. Then, we establish the aggregation models to aggregate these perceptions based on the weighted averaging (WA) and the ordered weighted averaging (OWA) operators. Furthermore, a risk measurement model of each aggregation approach is constructed to measure the risk levels of the commission risk (CR), the omission risk (OR), and the overall risk. A numerical example is used to verify the validity of the proposed model, while simulation experiments are designed to compare the risk levels of the WA and OWA operators. The results reveal that the overall risk level of the WA operator is higher than that of the OWA operator when judging the quality of the alternative with high standards; otherwise, the WA operator is lower. This finding provides a scientific reference for aggregation approach selection under uncertain information. Code metadataPermanent link to reproducible Capsule: https://doi.org/10.24433/CO.0911610.v1.