Bounded Rational Reciprocal Preference Relation for Decision Making
Volume 33, Issue 4 (2022), pp. 731–748
Pub. online: 6 September 2022
Type: Research Article
Open Access
Open Access
Received
1 August 2021
1 August 2021
Accepted
1 August 2022
1 August 2022
Published
6 September 2022
6 September 2022
Abstract
Fuzzy relations have been widely applied in decision making process. However, the application process requires people to have a high level of ability to compute and infer information. As people usually have limited ability of computing and inferring, the fuzzy relation needs to be adapted to fit the abilities of people. The bounded rationality theory holding the view that people have limited rationality in terms of computing and inferring meets such a requirement, so we try to combine the fuzzy relation with the bounded rationality theory in this study. To do this, first of all, we investigate four properties of fuzzy relations (i.e. reflexivity, symmetry, transitivity and reciprocity) within the bounded rationality context and find that these properties are not compatible with the bounded rationality theory. Afterwards, we study a new property called the bounded rational reciprocity of fuzzy relations, to make it possible to combine a fuzzy relation with the bounded rationality theory. Based on the bounded rational reciprocity, the bounded rational reciprocal preference relation is then introduced. A rationality visualization technique is proposed to intuitively display the rationality of experts. Finally, a bounded rationality net-flow-based ranking method is presented to solve real decision-making problems with bounded rational reciprocal preference relations, and a numerical example with comparative analysis is given to demonstrate the advantages of the proposed methods.
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Biographies
Jiang Lisheng
L. Jiang is pursuing his PhD degree in management science and engineering at Sichuan University, Sichuan, China. He has published several papers in Fuzzy Sets and Systems, Information Sciences, Applied Soft Computing, etc. His current research interests include multi-criteria decision analysis, cognitive fuzzy sets, etc.
Liao Huchang
H. Liao is a research fellow at the Business School, Sichuan University, Chengdu, China. He received his PhD degree in management science and engineering from the Shanghai Jiao Tong University, Shanghai, China, in 2015. He has published 3 monographs, 1 chapter, and more than 320 peer-reviewed papers, many in high-quality international journals including European Journal of Operational Research, Omega, Annals of Operations Research, Journal of the Operational Research Society, OR Spectrum, IEEE Transactions on Fuzzy Systems, IEEE Transactions on Engineering Management, IEEE Transactions on Systems, Man, and Cybernetics: Systems, IEEE Transaction on Cybernetics, etc. His publications have been cited over 13,000 times, and his h-index is 65. He has been a highly cited researcher in computer science (2019–2021) and engineering (2020–2021), and a highly cited Chinese researcher in management science (2020–2021). He ranked within the top 2% ranking of scientists in the World by Stanford University in 2021. His current research interests include multiple criteria decision analysis, fuzzy set and systems, cognitive computing, healthcare management, logistics engineering, etc. Prof. Liao has been elected to be the Fellow of IET, the Fellow of BCS, and the Fellow of IAAM. He has been the senior member of IEEE since 2017. He is the associate editor, guest editor or editorial board member for many top-tier international journals, including IEEE Transactions on Fuzzy Systems (SCI), Applied Soft Computing (SCI), Technological and Economic Development of Economy (SSCI), and International Journal of Strategic Property Management (SSCI). He has received numerous honours and awards, including the Outstanding Scientific Research Achievement Award in Higher Institutions in China (first class in Natural Science in 2017; second class in Natural Science in 2019), the Social Science Outstanding Achievement Award in Sichuan Province (Second Class in 2019), the Natural Science Research Achievement Award in Sichuan Province (third class, in 2021), and the 2015 Endeavour Research Fellowship Award granted by the Australia Government.
