A New Three-way Multi-attribute Decision Making Based on Regret Theory and TOPSIS Model

Three-way multi-attribute decision-making model is an effective tool to deal with uncertain decision-making problems, which can achieve the ranking and classification of objectives. However, the existing three-way multi-attribute decision-making problems have two common problems: 1) In the actual decision-making process, the risk attitude and psychological behavior of decision makers are difficult to reflect. 2) In the three-way classification process, the calculation of loss function and two thresholds is more complex and subjective. To address these challenges, a new regret-rejoicing function is proposed, which measures the degree of regret or rejoicing caused by psychological behavior of decision makers when choosing different objects, and makes the decision process more realistic. In addition, this model classify the objectives from a wide three-way decision (TWD) perspectives, avoiding the calculation of loss function and two thresholds, thereby reducing the excessive subjectivity and complexity. Finally, the decision effect of the proposed model is verified by a case study. The numerical analysis shows the effectiveness and superiority of the model.