Fuzzy Multicriteria Decision-Making Methods: A Comparative Analysis

2016 ◽  
Vol 32 (7) ◽  
pp. 722-738 ◽  
Author(s):  
Blanca Ceballos ◽  
María Teresa Lamata ◽  
David A. Pelta
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Multicriteria Decision Making ◽  
Multicriteria Decision

scholarly journals Approaches for multicriteria decision-making based on the hesitant fuzzy best–worst method

2021 ◽  
Author(s):  
Jian Li ◽  
Li-li Niu ◽  
Qiongxia Chen ◽  
Zhong-xing Wang
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Programming Model ◽  
Multicriteria Decision Making ◽  
Decision Makers ◽  
Multicriteria Decision ◽  
Preference Relations ◽  
Fuzzy Preference Relations ◽  
Decision Making Models ◽  
Best Worst Method

AbstractHesitant fuzzy preference relations (HFPRs) have been widely applied in multicriteria decision-making (MCDM) for their ability to efficiently express hesitant information. To address the situation where HFPRs are necessary, this paper develops several decision-making models integrating HFPRs with the best worst method (BWM). First, consistency measures from the perspectives of additive/multiplicative consistent hesitant fuzzy best worst preference relations (HFBWPRs) are introduced. Second, several decision-making models are developed in view of the proposed additive/multiplicatively consistent HFBWPRs. The main characteristic of the constructed models is that they consider all the values included in the HFBWPRs and consider the same and different compromise limit constraints. Third, an absolute programming model is developed to obtain the decision-makers’ objective weights utilizing the information of optimal priority weight vectors and provides the calculation of decision-makers’ comprehensive weights. Finally, a framework of the MCDM procedure based on hesitant fuzzy BWM is introduced, and an illustrative example in conjunction with comparative analysis is provided to demonstrate the feasibility and efficiency of the proposed models.

Arccosine and arctangent similarity measures of refined simplified neutrosophic indeterminate sets and their multicriteria decision-making method

2021 ◽  
pp. 1-13
Author(s):  
Jun Ye ◽  
Shigui Du ◽  
Rui Yong ◽  
Fangwei Zhang
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Similarity Measures ◽  
Multicriteria Decision Making ◽  
Open Pit Mine ◽  
Open Pit ◽  
Multicriteria Decision ◽  
Slope Design ◽  
Neutrosophic Number

In indeterminate and inconsistent setting, existing simplified neutrosophic indeterminate set (SNIS) can be depicted by the neutrosophic number (NN) functions of the truth, falsity and indeterminacy. Then, the three NN functions in SNIS lack their refined expressions and then the simplified neutrosophic indeterminate DM method cannot carry out the multicriteria DM problems with both criteria and sub-criteria in the setting of SNISs. To overcome the flaws, this study first proposes a new notion of a refined simplified neutrosophic indeterminate set (RSNIS), which is described by the refined truth, falsity and indeterminate NN information regarding both elements and sub-elements in a universe set, as the extension of SNIS. Next, we propose the arccosine and arctangent similarity measures of RSNISs and their multicriteria decision making (DM) method with various indeterminate risk ranges so as to carry out multicriteria DM problems with weight values of both criteria and sub-criteria in RSNIS setting. Lastly, the proposed DM method is applied to a multicriteria DM example of slope design schemes for an open pit mine to illustrate its application in the indeterminate DM problem with RSNISs. The decision results and comparative analysis indicate the rationality and efficiency of the proposed DM method with different indeterminate risk ranges.

scholarly journals Sustainability in the Business Sector: A Fuzzy Multicriteria Decision-Making Model for Financial Leasing Company Selection of the Vietnamese SMEs

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110360
Author(s):  
Fengsheng Chien ◽  
Chia-Nan Wang ◽  
Ka Yin Chau ◽  
Van Thanh Nguyen ◽  
Viet Tinh Nguyen
Keyword(s):  
Decision Making ◽  
Interest Rates ◽  
Small And Medium Enterprises ◽  
Multicriteria Decision Making ◽  
Primary Concern ◽  
Multicriteria Decision ◽  
Financial Leasing ◽  
Criteria Weights ◽  
Leasing Company ◽  
Selection Of

The uses and management of capital is extremely important to the operation of any businesses. However, not all businesses have available capital, so the use of loans in many different forms is always an effective solution in managing corporate finance. Accompanying with businesses, many financial leasing companies have implemented products and programs to lend money to businesses with low interest rates. So, choosing the best financial leasing company is a primary concern of businesses. To increase competitiveness, financial leasing companies often offer preferential conditions to attract businesses. Choosing the best financial leasing service to leasing is important and necessary to those businesses. Thus, the selection of a financial leasing company by small and medium enterprises benefits from the application of Multicriteria Decision-Making (MCDM) methods which allows the decision maker to consider various qualitative and quantitative criteria. In this article, the author applied Fuzzy Analytical Network Process (FANP) to calculate the related criteria weights of the financial leasing company selection problem of businesses. Then, the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is applied to rank the potential decision-making units. This research establishes one complete and efficient model for financial leasing company selection using FANP and TOPSIS methods. The proposed model is then applied into a real-world case study to demonstrate its feasibility.

Optimal ecodesign selection for biodiesel production in biorefineries through multicriteria decision making

2021 ◽  
Author(s):  
Luisa Andrea González-Cruz ◽  
Luis Fernando Morales-Mendoza ◽  
Alberto Alfonso Aguilar-Lasserre ◽  
Catherine Azzaro-Pantel ◽  
Paulina Martínez-Isidro ◽  
...  
Keyword(s):  
Decision Making ◽  
Multicriteria Decision Making ◽  
Biodiesel Production ◽  
Multicriteria Decision ◽  
Selection For

scholarly journals The Evaluation of Mineral Resources Development Efficiency Based on Hesitant Fuzzy Linguistic Approach and Modified TODIM

2018 ◽  
Vol 2018 ◽  
pp. 1-9 ◽  
Author(s):  
Pu Li ◽  
Xudong Chen ◽  
Xinyi Qu ◽  
Qi Xu
Keyword(s):  
Decision Making ◽  
Multicriteria Decision Making ◽  
Mineral Resources ◽  
Evaluation Process ◽  
Multicriteria Decision ◽  
Actual Evaluation ◽  
Panxi Area ◽  
Linguistic Approach ◽  
Fuzzy Linguistic ◽  
Resources Development

The evaluation of mineral resources development efficiency is a typical multicriteria decision-making issue. Meanwhile, due to the limited existing technology, there might be subjectivity, ambiguity, and inaccuracy of the measurement of the evaluation index of mineral resources development efficiency. In this paper, we, considering the incomplete information, use the hesitant fuzzy linguistic approach to describe the psychological hesitation and ambiguity of the decision-maker in the actual evaluation process and then construct the general model of the development efficiency evaluation of the mineral resources by using the hesitant fuzzy linguistic terms sets and modified TODIM. Finally, this paper takes the Panxi area as an example to study the development efficiency of vanadium-titanium magnetite. The results show that the hesitant fuzzy linguistic multicriteria decision-making (MCDM) approach can be implemented to mineral resources evaluation and resources management.

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