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A Method Based on Grey Theory for Multiple Attribute Group Decision-Making Considering Decision Makers’ Risk Attitudes

In: Proceedings of 20th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Fang Wang

    (Xidian University)

  • Hua Li

    (Xidian University)

  • Meng-zhe Jia

    (Xidian University)

Abstract

A new method is developed for solving multiple attribute group decision-making (MAGDM) problems considering decision makers’ risk attitudes, where attribute values are represented in interval grey numbers with incomplete weight information. In the proposed method, the risk attitude factors of decision makers are introduced, and interval values are transformed into exact values. Then, the weight vector of the decision makers for attributes is obtained by using the gray autocorrelation matrix. Further, the grey correlation matrix is employed to rank the alternatives. Finally, an example is used to illustrate the applicability of the proposed method.

Suggested Citation

  • Fang Wang & Hua Li & Meng-zhe Jia, 2013. "A Method Based on Grey Theory for Multiple Attribute Group Decision-Making Considering Decision Makers’ Risk Attitudes," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, edition 127, pages 1171-1177, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40072-8_116
    DOI: 10.1007/978-3-642-40072-8_116
    as

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