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A novel prospect-theory-based three-way decision methodology in multi-scale information systems

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Abstract

In an uncertain and complex decision-making environment, limited by the scope of human cognition, traditional utility decision-making has a certain deviation to actual decision-making. The revision of behavioral decision-making (BDM) to traditional rational decision-making theory makes the new model more universal. In light of this point, we reveal a new three-way decision (3WD) model by virtue of prospect theory (PT) on multi-scale information systems (MS-ISs) for persuing multi-attribute decision-making (MADM) problems. By utilizing an expected evaluation, our newly designed value function can not only reflect the relative position of the object but also avoid the drawbacks of the reference point being too subjective. Through the value function, we obtain a more reasonable avail function to replace the loss function in the traditional 3WD model. At the same time, the weighting function of the object in different states can be calculated, by synthesizing avail function and the weighting function under different decision attitudes. The comprehensive prospect value and classification conditions of the object are calculated. Then, through data selected from the UCI database, we verify the effectiveness of the constructed method. Comparative and experimental analyses are also used to illustrate the superiority and stability of our designed method.

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Notes

  1. http://archive.ics.uci.edu/ml/datasets/Connectionist+Bench+%28Sonar%2C+Mines+vs.+Rocks%29http://archive.ics.uci.edu/ml/datasets/Car+Evaluation

  2. The weight of each attribute is the same as 1/60, attribute expectations \(\theta _{j}=0.25\ (j=1, 2, \cdots , 60)\). The parameter values are \(\sigma =0.52, \zeta =\eta =0.88, \mu =0.69, \nu =0.61, \lambda =1.25\).

  3. The attribute expectations \(\theta _{j}=0.25\ (j=1, 2, 3, 4)\). The parameter values are \(\sigma =0.7, \zeta =\eta =0.88, \mu =0.69, \nu =0.61, \lambda =2.25\).

  4. The risk aversion coefficient \(\sigma =0.3\), conditional probability \(P=0.45\).

  5. For data set \(Car\ evaluation\), \(a_{1139}, a_{1148}, a_{1157}\) have the same evaluation value.

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Acknowledgements

The authors are very thankful to editors and three referees for their suggestive reports and valuable comments which are conducive to enhancing the presentation of the paper. The work of the first and second authors was supported by grants from the National Natural Science Foundation of China (61866011; 11961025; 12271146). This work of the third author was supported in part by the NNSFC (61976120), in part by the Natural Science Foundation of Jiangsu Province under Grant BK20191445.

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Authors and Affiliations

  1. School of Mathematics and Statistics, Hubei Minzu University, Enshi, 445000, Hubei, People’s Republic of China

    Jiang Deng & Jianming Zhan

  2. School of Information Science and Technology, Nantong University, Nantong, 226019, China

    Weiping Ding

  3. School of Management Science and Engineering, Shandong University of Finance and Economics, Shandong, 250014, China

    Peide Liu

  4. Department of Electrical and Computer Engineering, University of Alberta, Edmonton, Canada

    Witold Pedrycz

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  1. Jiang Deng
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Correspondence to Jianming Zhan.

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Author contributions

Jiang Deng: Conceptualization, Methodology, Investigation, Writing-original draft. Jianming Zhan: Methodology, Investigation, Writing-original draft. Weiping Ding: Writing-Reviewing and Editing. Peide Liu: Writing-Reviewing and Editing. Witold Pedrycz: Writing-Reviewing and Editing.

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Deng, J., Zhan, J., Ding, W. et al. A novel prospect-theory-based three-way decision methodology in multi-scale information systems. Artif Intell Rev 56, 6591–6625 (2023). https://doi.org/10.1007/s10462-022-10339-6

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