A novel prospect-theory-based three-way decision methodology in multi-scale information systems

In an uncertain and complex decision-making environment, limited by the scope of human cognition, traditional utility decision-making has a certain deviation to actual decision-making. The revision of behavioral decision-making (BDM) to traditional rational decision-making theory makes the new model more universal. In light of this point, we reveal a new three-way decision (3WD) model by virtue of prospect theory (PT) on multi-scale information systems (MS-ISs) for persuing multi-attribute decision-making (MADM) problems. By utilizing an expected evaluation, our newly designed value function can not only reflect the relative position of the object but also avoid the drawbacks of the reference point being too subjective. Through the value function, we obtain a more reasonable avail function to replace the loss function in the traditional 3WD model. At the same time, the weighting function of the object in different states can be calculated, by synthesizing avail function and the weighting function under different decision attitudes. The comprehensive prospect value and classification conditions of the object are calculated. Then, through data selected from the UCI database, we verify the effectiveness of the constructed method. Comparative and experimental analyses are also used to illustrate the superiority and stability of our designed method.