Three-Way Multiattribute Decision-Making Based on Outranking Relations

In contrast to two-way decisions (2WD), three-way decisions (3WD) can effectively reduce decision risks by utilizing a new delayed decision option. This article incorporates 3WD into multiattribute decision-making (MADM) based on an outranking relation. We construct the outranked set for each altern...

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Bibliographic Details
Published in:IEEE transactions on fuzzy systems Vol. 29; no. 10; pp. 2844 - 2858
Main Authors: Zhan, Jianming, Jiang, Haibo, Yao, Yiyu
Format: Journal Article
Language:English
Published: New York IEEE 01.10.2021
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects:
Adaptation models
Decision making
Decision-theoretic rough fuzzy set (DTRFS)
Indexes
Investment
multiattribute decision-making
outranking relation
Rough sets
three-way decision
Uncertainty
ISSN:1063-6706, 1941-0034
Online Access:Get full text
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Summary:In contrast to two-way decisions (2WD), three-way decisions (3WD) can effectively reduce decision risks by utilizing a new delayed decision option. This article incorporates 3WD into multiattribute decision-making (MADM) based on an outranking relation. We construct the outranked set for each alternative and introduce a hybrid information table that combines an MADM matrix with a loss function table. We propose three strategies to design a new 3WD model for MADM. The rationality and effectiveness of the proposed 3WD method are demonstrated by solving a problem of enterprise project investment target selections. Finally, we provide the comparative analysis and two experimental evaluations. The results show that the proposed 3WD method is effective and practically useful.
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ISSN:1063-6706
1941-0034
DOI:10.1109/TFUZZ.2020.3007423