Value determination method based on multiple reference points under a trapezoidal intuitionistic fuzzy environment

Previous studies on decision analyses typically assume a single reference point, yet under a complex environment, decision behavior is often influenced by multiple reference points (mRPs). This paper develops a prospect value determination method based on mRPs under a trapezoidal intuitionistic fuzzy environment. First, distance measures and expected values for trapezoidal intuitionistic fuzzy numbers are used to extend cumulative prospect theory to a trapezoidal intuitionistic fuzzy environment. Second, considering the case of mRPs in utility measurement, a trapezoidal intuitionistic fuzzy prospect function based on mRPs is developed. Then, a trapezoidal intuitionistic fuzzy prospect value determination procedure based on mRPs is developed. Finally, an example is provided to illustrate the practicality and effectiveness of the proposed method.