This article proposes an integrated decision model for selecting green suppliers in the new energy vehicle (NEV) industry. Its framework combines Prospect Theory with VIKOR and integrates subjective and objective criteria weights.
Article Info
- Authors: Hui Zhao and Xueshi Zhang
- Journal: Journal of Modelling in Management
- Publisher: Emerald Publishing Limited
- Available online: 14 August 2026
- DOI: 10.1108/JM2-01-2026-0010
Purpose and scope
The study develops a multicriteria decision-making model for green supplier selection by NEV firms. It addresses decision-makers’ bounded rationality and trade-offs among multiple objectives, with an emphasis on environmental performance and carbon neutrality goals.
Methods used
The authors build an evaluation system with four dimensions: enterprise comprehensive capability, product competitiveness, service level, and environmental protection performance. Literature review and Delphi consultation inform the criteria. DEMATEL and entropy weighting produce subjective and objective weights, which are combined through a minimum deviation method. Prospect Theory value and weighting functions are then embedded in VIKOR to calculate group utility, individual regret, and compromise rankings.
The framework is examined through a case study of a power battery enterprise. Sensitivity and comparative analyses are used to assess the stability and performance of the proposed model.
Findings and practical value
Supplier X5 ranks as the preferred alternative in the reported case because of its balanced performance. The article reports stable rankings under varying compromise coefficients and describes the integrated approach as better able to represent psychological behavior and compromise optimization than traditional methods.
For practitioners, the four-dimensional criteria offer a structured basis for green supplier assessment. Combining expert-based DEMATEL weights with entropy weights brings subjective and data-based information into the evaluation, while VIKOR makes the trade-off between overall group utility and individual regret explicit.
Cite this paper
APA: Zhao, H., & Zhang, X. (2026). Decision model for green supplier selection in new energy vehicles combining prospect theory and VIKOR. Journal of Modelling in Management. https://doi.org/10.1108/JM2-01-2026-0010
MLA: Zhao, Hui, and Xueshi Zhang. “Decision Model for Green Supplier Selection in New Energy Vehicles Combining Prospect Theory and VIKOR.” Journal of Modelling in Management, 2026, https://doi.org/10.1108/JM2-01-2026-0010.
IEEE: H. Zhao and X. Zhang, “Decision model for green supplier selection in new energy vehicles combining prospect theory and VIKOR,” Journal of Modelling in Management, 2026, doi: 10.1108/JM2-01-2026-0010.
Source
Read the publisher’s official article page for complete source details. View the article on ScienceDirect.
Apply VIKOR to evaluate alternatives and identify balanced compromise solutions.