A ranking method of incomplete matrix based on prospect theory

Abstract

With regard to the ranking method of incomplete decision matrix in multi-attribute group decision making, we propose a new method based on prospect theory. Firstly, this paper deals with the individual decision matrix. On this basis, the positive and negative ideal group decision matrices and ideal alternatives are obtained through combining OWA operator. Then, according to the difference of corresponding elements between the two matrices mentioned above, g possible matrices are determined and g possible prospect values of each alternative are gained. While the mean value of the g possible prospect values for each alternative is calculated, the ranking of the alternatives can be acquired subsequently. In the end, the feasibility and validity of this new method are illustrated by a numerical example.