An extended hesitant group decision-making technique based on the prospect theory for emergency situations

Document Type: Research Paper

Authors

1 Department of Mathematics, Quchan University of Technology, Quchan, Iran

2 Business School, Sichuan University, Chengdu 610064, P.R. China

10.22111/ijfs.2020.5349

Abstract

Throughout the present manuscript, we are going to introduce a novel group emergency decision-making technique in which the application of prospect theory explains the psychological behaviour of the decision maker who is affected by the hesitancy and uncertainty of cognition in decision making problems.\\
Instead of usual aggregation procedure, we implement here a new fusion technique that is based on modified version of extended hesitant fuzzy set (EHFS), and it definitely keeps possible amount of expert's information more than the existing fusion technique of hesitant fuzzy set (HFS).
The main motivation of re-visiting the concept of EHFS comes from its potential role in increasing the richness of numerical appearance in the form of value-groups, and of course its ability in identifying various decision makers in decision making situations. Such a definition further expands the practical applications of HFSs.\\
Finally, we employ the barrier lake problem to illustrate the feasibility and the validity of the presented technique.

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