Title :
New score functions based on risk preference in vague set theory
Author :
Wang, Weiping ; Wu, Qizong ; Hu, Xiaodong
Author_Institution :
Sch. of Manage. & Econ., Beijing Inst. of Technol., Beijing
Abstract :
The characters and disadvantages of some main present score functions in the vague set theory are analyzed. The meaning and essence of score functions are discussed and the concept of vague valuepsilas equilibrium point is introduced. From the risk preference point of view and regarding uncertainty information as potential risk, three risk type score functions are defined. A risk aversion type score function and a risk proneness type score function are constructed which can reflect risk aversion decision makerspsila preference and maintain it consistency. The character of these new score functions are detailed discussed and proved.
Keywords :
decision theory; fuzzy set theory; risk analysis; multicriterion fuzzy decision making; risk aversion type score function; risk proneness type score function; uncertainty information; vague set theory; vague value equilibrium; Set theory; multi-criterion fuzzy decision-making; risk preference; score function; vague set; vague values’ equilibrium point;
Conference_Titel :
Control and Decision Conference, 2008. CCDC 2008. Chinese
Conference_Location :
Yantai, Shandong
Print_ISBN :
978-1-4244-1733-9
Electronic_ISBN :
978-1-4244-1734-6
DOI :
10.1109/CCDC.2008.4597696