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. Hui Gao, School of Business, Sichuan Normal University, Chengdu, P.R. China. E-mail: gaohuisxy@sicnu.edu.cn.
Abstract: Facing with a sea of fuzzy information, decision makers always feel it difficult to select the optimal alternatives. Probabilistic hesitant fuzzy sets (PHFs) utilize the possible numbers and the possible membership degrees to describe the behavior of the decision makers. though this environment has been introduced to solve problems using different methods, this circumstance can still be explored by using different method. This paper’ s aim is to develop the MABAC (Multi-Attributive Border Approximation area Comparison) decision-making method which based on cumulative prospect theory (CPT) in probabilistic hesitant fuzzy environment to handle multiple attributes group decision making (MAGDM) problems. Then the weighting vector of attributes can be calculated by the method of entropy. Then, in order to show the applicability of the proposed method, it is validated by a case study for buying a house. Finally, through comparing the outcome of comparative analysis, we conclude that this designed method is acceptable.
Keywords: Multiple attribute group decision making (MAGDM), probability hesitant fuzzy sets (PHFs), cumulative prospect theory (CPT); MABAC method
