A New Decision Process Algorithm for MCDM Problems with Interval Grey Numbers Via Decision Target Adjustment

Abstract

This paper studies the situation that decision makers (DMs) have psychological thresholds (PTs) for decision criteria in solving multi-criteria decision making problems with interval grey numbers, and put a new decision process algorithm forward in which decision objectives, namely decision alternatives and decision criteria, were adjusted based on decision makers' psychological thresholds (DMs' PTs) to construct a new decision table. First of all, a new decision table on the basis of DMs' PTs was constructed. Secondly, criteria desirability functions for the efficiency criteria, cost criteria, and intermediary criteria were established, and decision makers' satisfaction degree (DMs' SD) for corresponding criteria was solved, respectively. Thirdly, decision objectives were readjusted in accordance with DMs ' SD and PT, and an information aggregation algorithm model was proposed based on DMs ' SD to get the optimal decision scheme. Then, DMs ' house-purchase behavior was analyzed by taking practical survey data from the real estate market in Nanjing City, Jiangsu Province, China as example. Finally, the decision results from the algorithm proposed in this paper with those from criteria weighting algorithm based on deviation maximization and those gotten from traditional decision process algorithm were compared, so as to prove scientific rationality of the algorithm.

Department(s)

Electrical and Computer Engineering

Keywords and Phrases

Criteria weighting; Decision process; Information aggregation; Psychological thresholds; Satisfaction degree; Target adjustment

International Standard Serial Number (ISSN)

0957-3720

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2025 Research Information Ltd., All rights reserved.

Publication Date

01 Jan 2015

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