Affiliations: [a] School of Economics and Management, Chongqing University of Posts and Telecommunications, Chongqing, P.R. China | [b] School of Business, Sichuan Normal University, Chengdu, People’s Republic of China
Correspondence:
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Corresponding author. Nian Zhang, School of Economics and Management, Chongqing University of Posts and Telecommunications, Chongqing, P.R. China. E-mail: chinazhangnian@163.com.
Abstract: To consider the decision makers’ regret behavior and describe the hybrid evolution information in the risk decision-making problem, a new approach is proposed based on regret theory in this paper. Firstly, the probable value of different states are calculated by Pignistic probability transformation method. Secondly, the relative closeness formula of hybrid information are established and the utility values of alternatives are computed. Then, decision makers’ utility values are obtained according to the regret theory. Moreover, the overall perceived utility values of alternatives are obtained by weighted arithmetic mean and got the optimal one by the ranking order. Finally, an numerical example is illustrated the method and comparative analysis are offered between the proposed approach and other existed methods to show that is feasible and usable.
