title: Grey situation group decision-making method based on prospect theory.
abstract: This paper puts forward a grey situation group decision-making method on the basis of prospect theory, in view of the grey situation group decision-making problems that decisions are often made by multiple decision experts and those experts have risk preferences. The method takes the positive and negative ideal situation distance as reference points, defines positive and negative prospect value function, and introduces decision experts' risk preference into grey situation decision-making to make the final decision be more in line with decision experts' psychological behavior. Based on TOPSIS method, this paper determines the weight of each decision expert, sets up comprehensive prospect value matrix for decision experts' evaluation, and finally determines the optimal situation. At last, this paper verifies the effectiveness and feasibility of the method by means of a specific example.
authors.affiliation: Corps Financial Development Research Center, Shihezi University, Wujiaqu 831300, China ; Commerce College, Shihezi University, Wujiaqu 831300, China ; College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China.
authors.forename: Na
authors.initials: N
authors.lastname: Zhang
authors.affiliation: College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China.
authors.forename: Zhigeng
authors.initials: Z
authors.lastname: Fang
authors.affiliation: College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016, China.
authors.forename: Xiaqing
authors.initials: X
authors.lastname: Liu
mesh_terms: D003198:Computer Simulation; D003657:Decision Making; D006126:Group Processes; D006801:Humans; D008962:Models, Theoretical