Improved TODIM method for intuitionistic fuzzy MAGDM based on cumulative prospect theory and its application on stock investment selection

The stock investment selection could be regarded as a classical multiple attribute group decision making (MAGDM) issue. The intuitionistic fuzzy sets (IFSs) can fully describes the uncertain information for stock investment selection. Furthermore, the classical TODIM method based on the cumulative prospect theory (CPT-TODIM) is built, which is a selectable method in reflecting the DMs’ psychological behavior. Thus, in this paper, the intuitionistic fuzzy CPT-TODIM (IF-CPT-TODIM) method is proposed for MAGDM issue. At the same time, it is enhancing rationality to get the weight information of attributes by using the CRITIC method under IFSs. And focusing on hot issues in contemporary society, this article applies the discussed method for stock investment selection and demonstrates for stock investment selection based on the proposed method. Finally, through comparing the outcome of comparative analysis, we conclude that this improved approach is acceptable.