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A Novel Regret Theory-Based Decision-Making Method Combined with the Intuitionistic Fuzzy Canberra Distance

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  • Haiping Ren
  • Yunxiao Gao
  • Tonghua Yang

Abstract

In practical decision-making, the behavior factors of decision makers often affect the final decision-making results. Regret theory is an important behavioral decision theory. Based on the regret theory, a novel decision-making method is proposed for the multiattribute decision-making problem with incomplete attribute weight information, and the attribute values are expressed by Atanassov intuitionistic fuzzy numbers. At first, a new distance of intuitionistic fuzzy sets is put forward based on the traditional Canberra distance. Then, we utilize it for the definition of the regret value (rejoice) for the attribute value of each alternative with the corresponding values of the positive point (negative point). The objective of this method is to maximize the comprehensive perceived utility of the alternative set by the decision maker. The optimal attribute weight vector is solved, and the optimal comprehensive perceived utility value of each alternative is obtained. Finally, according to the optimal comprehensive perceived utility value, the rank order of all alternatives is concluded.

Suggested Citation

  • Haiping Ren & Yunxiao Gao & Tonghua Yang, 2020. "A Novel Regret Theory-Based Decision-Making Method Combined with the Intuitionistic Fuzzy Canberra Distance," Discrete Dynamics in Nature and Society, Hindawi, vol. 2020, pages 1-9, October.
    • Handle: RePEc:hin:jnddns:8848031
    DOI: 10.1155/2020/8848031
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