Three-Way Multiattribute Decision-Making Based on Outranking Relations

In contrast to two-way decisions (2WD), three-way decisions (3WD) can effectively reduce decision risks by utilizing a new delayed decision option. This article incorporates 3WD into multiattribute decision-making (MADM) based on an outranking relation. We construct the outranked set for each alternative and introduce a hybrid information table that combines an MADM matrix with a loss function table. We propose three strategies to design a new 3WD model for MADM. The rationality and effectiveness of the proposed 3WD method are demonstrated by solving a problem of enterprise project investment target selections. Finally, we provide the comparative analysis and two experimental evaluations. The results show that the proposed 3WD method is effective and practically useful.

Automated summary

This article introduces three-way decisions into multiattribute decision-making based on an outranking relation, presents three strategies to design a new 3WD model, and demonstrates the rationality and effectiveness of the proposed method through solving practical problems and experimental evaluations. The comparative analysis shows that the proposed 3WD method is effective and practically useful.