A Multiple Criteria Decision Making Method Based on Relative Value Distances

A Multiple Criteria Decision Making Method Based on Relative Value Distances

This paper proposes a new multiple criteria decision-making method called ERVD (election based on relative value distances). The s-shape value function is adopted to replace the expected utility function to describe the risk-averse and risk-seeking behavior of decision makers. Comparisons and experi...

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Bibliographic Details
Main Authors: Shyur Huan-jyh, Yin Liang, Shih Hsu-shih, Cheng Chi-bin
Format: Article
Language:English
Published: Sciendo 2015-12-01
Series:Foundations of Computing and Decision Sciences
Subjects:
mcdm
prospect theory
value function
expected utility function
topsis
Online Access:https://doi.org/10.1515/fcds-2015-0017

Internet

https://doi.org/10.1515/fcds-2015-0017

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