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The Strategic Weight Manipulation Model in Uncertain Environment: A Robust Risk Optimization Approach
- Source :
- Systems, Vol 11, Iss 3, p 151 (2023)
- Publication Year :
- 2023
- Publisher :
- MDPI AG, 2023.
-
Abstract
- Due to the complexity and uncertainty of decision-making circumstances, it is difficult to provide an accurate compensation cost in strategic weight manipulation, making the compensation cost uncertain. Simultaneously, the change in the attribute weight is also accompanied by risk, which brings a greater challenge to manipulators’ decision making. However, few studies have investigated the risk aversion behavior of manipulators in uncertain circumstances. To address this research gap, a robust risk strategic weight manipulation approach is proposed in this paper. Firstly, mean-variance theory (MVT) was used to characterize manipulators’ risk preference behavior, and a risk strategic weight manipulation model was constructed. Secondly, the novel robust risk strategic weight manipulation model was developed based on the uncertainty caused by the estimation error of the mean and covariance matrix of the unit compensation cost. Finally, a case of emergency facility location was studied to verify the feasibility and effectiveness of the proposed method. The results of the sensitivity analysis and comparative analysis show that the proposed method can more accurately reflect manipulators’ risk preference behavior than the deterministic model. Meanwhile, some interesting conclusions are revealed.
Details
- Language :
- English
- ISSN :
- 11030151 and 20798954
- Volume :
- 11
- Issue :
- 3
- Database :
- Directory of Open Access Journals
- Journal :
- Systems
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.2cddbdad6e50426ab7a96ca0e4d704a8
- Document Type :
- article
- Full Text :
- https://doi.org/10.3390/systems11030151