Affiliations: [a] School of Business, Sichuan Normal University, Chengdu, P.R. China | [b] School of Accounting, Southwestern University of Finance and Economics, Chengdu, P.R. China
Correspondence:
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Corresponding author. Zhiwei Jiang, School of Business, Sichuan Normal University, Chengdu, 610101, P.R. China. E-mail: jiangzhiwei1208@163.com.
Abstract: For the long-term development of shopping mall, the managers of shopping mall tend to build a new store to expand the enterprise’s market share in a new city. After holding a preliminary survey of the city, managers have initially identified five sites for construction. In order to select an optimal site, managers invite four experts who come from university, marking statistics, corporate executives and accounting to score sites. And they choose the best site on the basis of scores. The trait of EDAS method is to select an optimal alternative by using the distance of each alternative from the first-rank value. In this manuscript, we build the picture fuzzy EDAS method based on the cumulative prospect theory (PF-CPT-EDAS) for multiple attribute group decision-making (MAGDM) and it can help managers to choose an optimal alternative effectively. During the procedure of PF-CPT-EDAS means, we take advantage of the entropy means to calculate the original weights of all attributes. Ultimately, we testify the effectiveness of the novel model by comparing the overcome of PF-CPT-EDAS means with the results of PF-EDAS approach and other methods.
Keywords: Multiple attribute group decision-making (MAGDM), picture fuzzy sets (PFSs), EDAS method, cumulative prospect theory (CPT), site selection
