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Pythagorean Fuzzy TODIM Method Based on the Cumulative Prospect Theory for MAGDM and Its Application on Risk Assessment of Science and Technology Projects

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Abstract

The risk assessment of science and technology projects could be regarded as a classical multiple attribute group decision-making (MAGDM) issue. The Pythagorean fuzzy sets (PFSs) can fully describe the uncertain information for the risk assessment of science and technology projects. Furthermore, the classical TODIM method based on the cumulative prospect theory (CPT-TODIM) is built, which is a selectable method in reflecting the DMs’ psychological behavior. Thus, in this paper, the Pythagorean fuzzy CPT-TODIM (PF-CPT-TODIM) method is proposed for MAGDM issue. At the same time, it is enhancing rationality to get the weight information of attributes by using the entropy weight method under PFSs. And focusing on hot issues in contemporary society, this article applies the discussed method to risk assessment of science and technology projects, and demonstrates risk assessment model of science and technology projects based on the proposed method. Finally, through comparing the outcome of comparative analysis, we conclude that this improved approach is acceptable.

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Authors and Affiliations

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

    Mengwei Zhao & Guiwu Wei

  2. School of Statistics, Southwestern University of Finance and Economics, Chengdu, 611130, People’s Republic of China

    Cun Wei & Jiang Wu

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  1. Mengwei Zhao
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  2. Guiwu Wei
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  4. Jiang Wu
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Correspondence to Guiwu Wei.

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Zhao, M., Wei, G., Wei, C. et al. Pythagorean Fuzzy TODIM Method Based on the Cumulative Prospect Theory for MAGDM and Its Application on Risk Assessment of Science and Technology Projects. Int. J. Fuzzy Syst. 23, 1027–1041 (2021). https://doi.org/10.1007/s40815-020-00986-8

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