With the development of the economy and the intensification of market competition, it is necessary for decision-maker to select and combine logistics nodes and transportation routes that may provide services to build an efficient and effective logistics chain. To address the hybrid multiple attribute decision-making problem with decision-maker’s aspiration, a logistics chain selection model based on prospect theory is proposed. Firstly, the psychological behavioral factors of decision-maker are considered, and the decision-maker’s aspiration for each attribute is selected as the corresponding reference point. Next, the attribute matrix which consists of clear numbers, interval numbers, and linguistic assessment terms, is transformed into a value matrix of gains and losses relative to the reference point. Then, considering the different risk attitudes of decision-maker facing gain and loss, the prospect value of each alternative is calculated, and the logistics chain ranking is determined according to the obtained prospect value. Finally, a numerical example is used to illustrate the feasibility and validity of the proposed model.


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    Title :

    Logistics Chain Selection Model Based on Prospect Theory


    Contributors:
    Song, Xuan (author) / Jian, Ming (author) / Liu, Tong (author)


    Publication date :

    2023-08-04


    Size :

    496925 byte





    Type of media :

    Conference paper


    Type of material :

    Electronic Resource


    Language :

    English



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