A Novel Grey Target Decision Method Based on a Cobweb Area Model for Standard Interval Grey Numbers

Grey evaluation methods are effective tools for evaluating alternatives in multi-attribute decision-making (MADM) problems. In this paper; a novel grey target decision method was developed for standard interval grey numbers (IGNs). First, the grey incidence method was proposed for standard IGNs using new proposed distance measures. The generalized grey incidence method can be used to compute the attribute weights in MADM with standard IGNs. Furthermore, a new grey target model was constructed considering the concept of encouragement and punishment. A new cobweb area model was proposed to aggregate decision-making information, which can avoid the scenario in which some attributes have too large an impact on the decision-making results. Finally, an example and a comparison with traditional methods were provided to illustrate the effectiveness and feasibility of the proposed method.