A novel consensus reaching method for the preference-approval structure based on regret theory and its application in evaluating pension institutions
International Journal of Intelligent Computing and Cybernetics
ISSN: 1756-378X
Article publication date: 18 August 2023
Issue publication date: 29 February 2024
Abstract
Purpose
The purpose of this paper is to propose a consensus method for multi-attribute group decision-making (MAGDM) problems based on preference-approval structure and regret theory, which can improve the efficiency of decision-making and promote the consensus level among individuals.
Design/methodology/approach
First, a new method to obtain the reference points based on regret theory and expert weighting method is proposed. Second, a consensus reaching method based on preference-approval structure is proposed. Then, an adjustment mechanism to further improve the consensus level between individuals is designed. Finally, an example of the assessment of elderly care institutions is used to illustrate the feasibility and effectiveness of the proposed method.
Findings
The feasibility and validity of the proposed method are verified by comparing with the advanced two-stage minimum adjustment method. The compared results show that the proposed method is more consistent with the actual situation.
Research limitations/implications
This paper presents a consensus reaching method for MAGDM based on preference-approval structure, which considers the avoidance behaviors of individuals and reference points. Decision makers (DMs) can use this approach to rank and categorize alternatives while further increasing the level of consensus among them. This can further help determine the optimal alternative more efficiently.
Originality/value
A new MAGDM problem based on the combination of regret theory and individual reference points is proposed. Besides, a new method of obtaining experts' weights and a consensus reaching method for MAGDM based on preference-approval structure are designed.
Keywords
Acknowledgements
This paper is supported by the Jiangsu Social Science Research Fund of China (No. 21SHB003).
Citation
Shi, Q., Li, P. and Xu, Z. (2024), "A novel consensus reaching method for the preference-approval structure based on regret theory and its application in evaluating pension institutions", International Journal of Intelligent Computing and Cybernetics, Vol. 17 No. 1, pp. 1-19. https://doi.org/10.1108/IJICC-02-2023-0023
Publisher
:Emerald Publishing Limited
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