Cumulative Prospect Theory and Momentum Crashes: Evidence from Asia

A disruption management method based on cumulative prospect theory is proposed for the urgent with deteriorating effect arrival in flexible job shop scheduling problem (FJSP). First, the mathematical model of problem is established with minimizing the completion time of urgent order, minimizing the total process time of the system and minimizing the total cost as the target. Then, the cumulative prospect theory equation of the urgent arrival in job shop scheduling process is induced designed. Based on the selected model, an optimized multi-phase quantum particle swarm algorithm (MQPSO) is proposed for selecting processing route. Finally, using Solomon example simulation and company Z riveting shop example as the study object, the performance of the proposed method is analyzed. It is compared with the current common rescheduling methods, and the results verify that the method proposed in this paper not only meets the goal of the optimized objects, but improves the practical requirements for the stability of production and processing system during urgent arrival. Lastly, the optimized multiphase quantum particle swarm algorithm is used to solve disruption management of urgent arrival problem. Through instance analysis and comparison, the effectiveness and efficiency of urgent arrival disruption management method with deteriorating effect are verified.

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A New Approach for Occupational Risk Evaluation of Natural Gas Pipeline Construction with Extended Cumulative Prospect Theory

International Journal of Fuzzy Systems ◽

10.1007/s40815-020-01038-x ◽

2021 ◽

Vol 23 (1) ◽

pp. 158-181

Author(s):

Weizhong Wang ◽

Xinwang Liu ◽

Yilin Ma ◽

Shuli Liu

Keyword(s):

Natural Gas ◽

Prospect Theory ◽

Risk Evaluation ◽

Cumulative Prospect Theory ◽

Gas Pipeline ◽

Occupational Risk ◽

New Approach ◽

Pipeline Construction ◽

Natural Gas Pipeline

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Optimal selection of energy storage nodes based on improved cumulative prospect theory in China

Journal of Renewable and Sustainable Energy ◽

10.1063/5.0020461 ◽

2020 ◽

Vol 12 (6) ◽

pp. 064101

Author(s):

Jicheng Liu ◽

Zhenzhen Wang ◽

Yu Yin ◽

Yinghuan Li ◽

Yunyuan Lu

Keyword(s):

Energy Storage ◽

Prospect Theory ◽

Cumulative Prospect Theory ◽

Optimal Selection ◽

Selection Of

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Study on Freeway Vehicle Route Selection Based on Cumulative Prospect Theory

IOP Conference Series Earth and Environmental Science ◽

10.1088/1755-1315/638/1/012021 ◽

2021 ◽

Vol 638 ◽

pp. 012021

Author(s):

Liuqing Ding ◽

Xianyu Wu ◽

Qingyu Xiao

Keyword(s):

Prospect Theory ◽

Cumulative Prospect Theory ◽

Route Selection ◽

Vehicle Route

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Cumulative Prospect Theory Version with Fuzzy Values of Outcome Estimates

Risks ◽

10.3390/risks9040072 ◽

2021 ◽

Vol 9 (4) ◽

pp. 72

Author(s):

Oleg Uzhga-Rebrov ◽

Peter Grabusts

Keyword(s):

Prospect Theory ◽

Expected Utility ◽

Utility Theory ◽

Expected Utility Theory ◽

Cumulative Prospect Theory ◽

Development History ◽

Decisions Under Risk ◽

History Of ◽

Main Factors ◽

Theoretical Foundations

Choosing solutions under risk and uncertainty requires the consideration of several factors. One of the main factors in choosing a solution is modeling the decision maker’s attitude to risk. The expected utility theory was the first approach that allowed to correctly model various nuances of the attitude to risk. Further research in this area has led to the emergence of even more effective approaches to solving this problem. Currently, the most developed theory of choice with respect to decisions under risk conditions is the cumulative prospect theory. This paper presents the development history of various extensions of the original expected utility theory, and the analysis of the main properties of the cumulative prospect theory. The main result of this work is a fuzzy version of the prospect theory, which allows handling fuzzy values of the decisions (prospects). The paper presents the theoretical foundations of the proposed version, an illustrative practical example, and conclusions based on the results obtained.

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