A method for multi-attribute decision making under uncertainty using evidential reasoning and prospect theory

Abstract

In this paper, a method for multi-attribute decision making under uncertainty is proposed, the uncertainty is represented by certitude structure. In fact, there are both quantitative and qualitative attributes with different representation in multi-attribute decision making under uncertainty, so the certitude structure transformation method is the first contribution of this paper. Secondly, the prospect value vector for each alternative on each attribute is calculated based on prospect theory. Thirdly, the combination decision prospect value of each alternative is given according to evidential reasoning approach under certitude degree. Then a ranking of alternatives can be determined using the combination decision prospect values. Finally, two illustration examples are used to illustrate the use of this multi-attribute decision making method, as well as demonstrate its high performance by comparing with the existing approaches.