A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables
We investigate the dynamic stochastic multicriteria decision making (SMCDM) problems, in which the criterion values take the form of log-normally distributed random variables, and the argument information is collected from different periods. We propose two new geometric aggregation operators, such a...
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| Format: | Article |
| Language: | English |
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Wiley
2013-01-01
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| Series: | The Scientific World Journal |
| Online Access: | http://dx.doi.org/10.1155/2013/202085 |
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| _version_ | 1832545601137410048 |
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| author | Xin-Fan Wang Jian-Qiang Wang Sheng-Yue Deng |
| author_facet | Xin-Fan Wang Jian-Qiang Wang Sheng-Yue Deng |
| author_sort | Xin-Fan Wang |
| collection | DOAJ |
| description | We investigate the dynamic stochastic multicriteria decision making (SMCDM) problems, in which the criterion values take the form of log-normally distributed random variables, and the argument information is collected from different periods. We propose two new geometric aggregation operators, such as the log-normal distribution weighted geometric (LNDWG) operator and the dynamic log-normal distribution weighted geometric (DLNDWG) operator, and develop a method for dynamic SMCDM with log-normally distributed random variables. This method uses the DLNDWG operator and the LNDWG operator to aggregate the log-normally distributed criterion values, utilizes the entropy model of Shannon to generate the time weight vector, and utilizes the expectation values and variances of log-normal distributions to rank the alternatives and select the best one. Finally, an example is given to illustrate the feasibility and effectiveness of this developed method. |
| format | Article |
| id | doaj-art-be0c461c07b74965a42d992cd5c4f9e7 |
| institution | Kabale University |
| issn | 1537-744X |
| language | English |
| publishDate | 2013-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | The Scientific World Journal |
| spelling | doaj-art-be0c461c07b74965a42d992cd5c4f9e72025-02-03T07:25:28ZengWileyThe Scientific World Journal1537-744X2013-01-01201310.1155/2013/202085202085A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random VariablesXin-Fan Wang0Jian-Qiang Wang1Sheng-Yue Deng2School of Science, Hunan University of Technology, Zhuzhou 412007, ChinaSchool of Business, Central South University, Changsha 410083, ChinaSchool of Science, Hunan University of Technology, Zhuzhou 412007, ChinaWe investigate the dynamic stochastic multicriteria decision making (SMCDM) problems, in which the criterion values take the form of log-normally distributed random variables, and the argument information is collected from different periods. We propose two new geometric aggregation operators, such as the log-normal distribution weighted geometric (LNDWG) operator and the dynamic log-normal distribution weighted geometric (DLNDWG) operator, and develop a method for dynamic SMCDM with log-normally distributed random variables. This method uses the DLNDWG operator and the LNDWG operator to aggregate the log-normally distributed criterion values, utilizes the entropy model of Shannon to generate the time weight vector, and utilizes the expectation values and variances of log-normal distributions to rank the alternatives and select the best one. Finally, an example is given to illustrate the feasibility and effectiveness of this developed method.http://dx.doi.org/10.1155/2013/202085 |
| spellingShingle | Xin-Fan Wang Jian-Qiang Wang Sheng-Yue Deng A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables The Scientific World Journal |
| title | A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables |
| title_full | A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables |
| title_fullStr | A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables |
| title_full_unstemmed | A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables |
| title_short | A Method to Dynamic Stochastic Multicriteria Decision Making with Log-Normally Distributed Random Variables |
| title_sort | method to dynamic stochastic multicriteria decision making with log normally distributed random variables |
| url | http://dx.doi.org/10.1155/2013/202085 |
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