A prospect theory-based three-way decision model

Three-way decisions in generalized intuitionistic fuzzy environments: survey and challenges

Enhancing decision-making under risks is crucial in various fields, and three-way decision (3WD) methods have been extensively utilized and proven to be effective in numerous scenarios. However, traditional methods may not be sufficient when addressing intricate decision-making scenarios characterized by uncertain and ambiguous information. In response to this challenge, the generalized intuitionistic fuzzy set (IFS) theory extends the conventional fuzzy set theory by introducing two pivotal concepts, i.e., membership degrees and non-membership degrees. These concepts offer a more comprehensive means of portraying the relationship between elements and fuzzy concepts, thereby boosting the ability to model complex problems. The generalized IFS theory brings about heightened flexibility and precision in problem-solving, allowing for a more thorough and accurate description of intricate phenomena. Consequently, the generalized IFS theory emerges as a more refined tool for articulating fuzzy phenomena. The paper offers a thorough review of the research advancements made in 3WD methods within the context of generalized intuitionistic fuzzy (IF) environments. First, the paper summarizes fundamental aspects of 3WD methods and the IFS theory. Second, the paper discusses the latest development trends, including the application of these methods in new fields and the development of new hybrid methods. Furthermore, the paper analyzes the strengths and weaknesses of research methods employed in recent years. While these methods have yielded impressive outcomes in decision-making, there are still some limitations and challenges that need to be addressed. Finally, the paper proposes key challenges and future research directions. Overall, the paper offers a comprehensive and insightful review of the latest research progress on 3WD methods in generalized IF environments, which can provide guidance for scholars and engineers in the intelligent decision-making field with situations characterized by various uncertainties.

Three-way group decisions using evidence theory under hesitant fuzzy linguistic environment

In the actual decision-making process, there will be situations where decision-makers with hesitant attitudes have difficulties in evaluating alternatives numerically, and hesitant fuzzy linguistic term sets can provide decision-makers with an effective way to describe hesitancy in linguistic terms. In multi-attribute group decision-making, each decision maker typically holds different preferences. If the variation in decision makers' assessment weights across evaluations of each attribute for every alternative is not adequately accounted for, it can result in a problem of coarse-grained calculations, leading to information loss. Additionally, the three-way decision model faces significant challenges in information fusion within the context of the hesitant fuzzy linguistic environment. Therefore, we propose a new three-way decision-making model under the hesitant fuzzy linguistic environment. The model obtains the confidence of different decision makers in attribute evaluations through the fusion of D-S evidence theory, and can perform more fine-grained fusion calculations on the evaluation information of different decision makers. In addition, the model considers the cost function of each alternative in different decision-making actions under hesitant fuzzy linguistic environment, calculates the two thresholds of each alternative in the three-way decision model, and derives the decision rules. The effectiveness of the model is verified through a numerical example and two comparative experiments, therefore, the model can be applied in intelligent classification or recommendation systems of hesitant fuzzy linguistic information systems.

A three-way decisions approach based on double hierarchy linguistic aggregation operators of strict t-norms and t-conorms

With the massive increase in uncertainty of linguistic information in realistic decision making, there is a great challenge for people to make decisions in the complex linguistic environment. To overcome this challenge, this paper proposes a three-way decisions method based on aggregation operators of strict t-norms and t-conorms under double hierarchy linguistic environment. By mining the double hierarchy linguistic information, strict t-norms and t-conorms are introduced to define the operation rules and their operation examples are also given. Then, the double hierarchy linguistic weighted average (DHLWA) operator and weighted geometric (DHLWG) operator are proposed based on strict t-norms and t-conorms. Besides, some of their important properties are also proved and derived, such as idempotency, boundedness and monotonicity. Next, DHLWA and DHLWG are integrated with three-way decisions to construct our three-way decisions model. Specifically, the double hierarchy linguistic decision theoretic rough set (DHLDTRS) model is constructed by incorporating the computational model of expected loss with DHLWA and DHLWG, which can consider the various decision attitudes from decision makers more adequately. Furthermore, we also propose a novel entropy weight calculation formula to improve the entropy weight method for obtaining the weights more objectively, and integrate grey relational analysis (GRA) method to calculate the conditional probability. Based on the Bayesian minimum-loss decision rules, the solving method of our model is also propounded and the corresponding algorithm is designed. Finally, an illustrative example and experimental analysis are presented, which can validate the rationality, robustness as well as superiority of our method.

A multiple attribute decision-making three-way model at four-branch fuzzy environment

Three-way decisions (TWDs) theory is one of the core ideas of decision-theoretic rough sets (DTRSs). Reviewing the existing research results, we find that TWDs provides us with more flexible decision choices. And the traditional fuzzy number does not take into account the absence of information (indifference) in the evaluation process. In order to construct a new model which can get flexible decision results in complex decision environment, we introduce four-branch fuzzy numbers (FBFNs) to describe the evaluation information, so that the decision-makers can express the evaluation information more comprehensively. In this paper, a novel TWDs model in four-branch fuzzy environment is proposed to solve multiple-attribute decision-making (MADM) problem. The first challenge is to construct a TWDs model based on FBFNs and to develop a new linguistic interpretation of the loss functions. Then, we extend a method for aggregating the loss functions obtained from the attribute evaluation values. Finally, we use the nonlinear solution to solve the threshold, and apply TOPSIS method to solve the conditional probability of FBFNs. The effectiveness of this method is illustrated by an example, and the decision results are compared with a MADM method based on OWGA operator.

A new three-way group decision-making model based on geometric heronian mean operators with q-rung orthopair uncertain linguistic information

As an effective tool for three-way decisions (3WD) problems, decision-theoretic rough sets (DTRSs) have raised increasing attention recently. In view of the advantages of q-rung orthopair uncertain linguistic variables (q-ROULVs) in depicting uncertain information, a new DTRSs model based on q-ROULVs is proposed to solve three-way group decision-making (3WGDM) problems. Firstly, the loss function of DTRSs is depicted by q-ROULVs and a q-rung orthopair uncertain linguistic DTRSs model is constructed subsequently. Secondly, to aggregate different experts’ evaluation results on loss function in group decision-making (GDM) scenario, the q-rung orthopair uncertain linguistic geometric Heronian mean (q-ROULGHM) operator and the q-rung orthopair uncertain linguistic weighted geometric Heronian mean (q-ROULWGHM) operator are presented. Related properties of the proposed operators are investigated. Thirdly, to compare the expected loss of each alternative, a new score function of q-ROULVs is defined and the corresponding decision rules for 3WGDM are deduced. Finally, an illustrative example of venture capital in high-tech projects is provided to verify the rationality and effectiveness of our method. The influence of different conditional probabilities and parameter values on decision results is comprehensively discussed.