Multi-criteria Decision Making Method with Interval Number Based on Prospect Theory
Qi Xu · Tongji yu xinxi luntan · 2011
With respect to decision making problems whose criteria values are interval numbers,a multi-criteria decision making method under prospect theory is proposed.This method firstly regardes the criteria value as N arithmetic random numbers in the given interval,and the regularities of criteria value distribution for the interval is expressed by the normal distribution function.Then,on the basis of the given reference points of criteria,the prospect value of criteria for every alternative is calculated by value function and decision weight function,and the prospect value of alternative is acquired by weighted average method.At last,all the alternatives are sorted and the optimal one is chosen according to the prospect values.Feasibility of the method is demonstrated by a simple illustrative example.