Group grey target decision making based on prospect theory

Considering the impact on group decision making from that every decision maker has grey targets about attributes, a method of group grey target decision making is proposed on the prospect theory. A prospect value function is defined by using the expected grey target as reference point. A linear operator with the features of the rewarding good and punishing bad is used to standardize the prospect values. The positive or negative sign of the standardized values can reflect adequately that the attributes' values hit the bull's eye or not. Then, the weight model of decision maker is proposed based on group's consistency and influence of the maximum and minimum evaluation on the deviation of decision. And the project hits bull's eye or not is judged according to the positive or negative sign of comprehensive prospect values. Finally, the emergency plan selection shows the feasibility and effectiveness of the proposed model.