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Spherical fuzzy TODIM method for MAGDM integrating cumulative prospect theory and CRITIC method and its application to commercial insurance selection

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Abstract

In rent years, commercial insurance selection is a hot issue in multiple attribute group decision making (MAGDM). Spherical fuzzy sets (SFSs) can better express the vague factors to commercial insurance selection. In this paper, spherical fuzzy TODIM approach based on cumulative prospect theory (SF-CPT-TODIM) is presented for MAGDM issues. It can display the psychological perception of decision makers (DMs) very well. Furthermore, when the attribute weights are unknown, we obtain the attribute weights through CRITIC method under SFSs to heighten the reasonability of weight information. Finally, this article gives a practical example of the raised approach for the hot issue about commercial insurance selection to certify the availability and superiority for the raised method via comparing with some existing approaches.

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Acknowledgements

The work was supported by the National Social Science Foundation of China under Grant No. 21XJY003.

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Authors and Affiliations

  1. School of Mathematics and Statistics, Liupanshui Normal University, Liupanshui, 553004, Guizhou, China

    Huiyuan Zhang

  2. School of Mathematical Sciences, Sichuan Normal University, Chengdu, 610101, People’s Republic of China

    Huiyuan Zhang & Guiwu Wei

  3. School of Economics and Management, Chongqing University of Arts and Sciences, Chongqing, 402160, People’s Republic of China

    Hongjun Wang

  4. School of Business, Sichuan Normal University, Chengdu, 610101, People’s Republic of China

    Guiwu Wei

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  1. Huiyuan Zhang
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Correspondence to Guiwu Wei.

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Zhang, H., Wang, H. & Wei, G. Spherical fuzzy TODIM method for MAGDM integrating cumulative prospect theory and CRITIC method and its application to commercial insurance selection. Artif Intell Rev 56, 10275–10296 (2023). https://doi.org/10.1007/s10462-023-10409-3

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