Abstract: There are many multi-attribute decision making problems with heterogeneous information or data, which also needs to consider that the weights change with the attributes values. Aiming at the heterogeneous information multi-attribute decision making, a variable weight decision making method is proposed based on prospect theory. Firstly, the unified distance formula of heterogeneous information is built, furthermore, the relative closeness of alternatives are computed. Secondly, variable weight vector based on different types of utility functions are obtained. In the next place, the initial weight is chosen as the reference point, the variable weight vector is transformed into the decision matrix of gains or losses relative to the reference point. Furthermore, considering the decision maker's different risk attitudes toward gains and losses, the comprehensive prospect value of each alternative is calculated based on prospect theory, a ranking of alternatives is determined by the comprehensive prospect value. Finally, an illustrative example shows the effectiveness and validity of the proposed model and approach, which can provide theoretical basis and method support for solving the complex scenarios decision problem.

Key words: prospect theory, heterogeneous information, variable weigh decision method, multi-attribute decision making