A fuzzy multi-criteria decision-making model by associating technique for order preference by similarity to ideal solution with relative preference relation

2014 ◽  
Vol 268 ◽  
pp. 169-184 ◽  
Author(s):  
Yu-Jie Wang
Keyword(s):  
Decision Making ◽  
Preference Relation ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Relative Preference ◽  
Order Preference ◽  
Decision Making Model

scholarly journals Generalization and ranking of fuzzy numbers by relative preference relation

2021 ◽  
Author(s):  
Kavitha Koppula ◽  
Babushri Srinivas Kedukodi ◽  
Syam Prasad Kuncham
Keyword(s):  
Decision Making ◽  
Fuzzy Number ◽  
Fuzzy Numbers ◽  
Preference Relation ◽  
Multi Criteria Decision Making ◽  
Fuzzy Preference Relation ◽  
Trapezoidal Fuzzy Numbers ◽  
Relative Preference ◽  
Decision Making Model ◽  
Ranking Of Fuzzy Numbers

AbstractWe define $$2n+1$$ 2 n + 1 and 2n fuzzy numbers, which generalize triangular and trapezoidal fuzzy numbers, respectively. Then, we extend the fuzzy preference relation and relative preference relation to rank $$2n+1$$ 2 n + 1 and 2n fuzzy numbers. When the data is representable in terms of $$2n+1$$ 2 n + 1 fuzzy number, we generalize the FMCDM (fuzzy multi-criteria decision making) model constructed with TOPSIS and relative preference relation. Lastly, we give an example from telecommunications to present the proposed FMCDM model and validate the results obtained.

Applying the Multi-Criteria Decision Making Model for Ranking Commercial Banks: The Case of Vietnam

2019 ◽  
pp. 125-133
Author(s):  
Duong Truong Thi Thuy ◽  
Anh Pham Thi Hoang
Keyword(s):  
Decision Making ◽  
Commercial Banks ◽  
Decision Model ◽  
Business Models ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Decision Making Model

Banking has always played an important role in the economy because of its effects on individuals as well as on the economy. In the process of renovation and modernization of the country, the system of commercial banks has changed dramatically. Business models and services have become more diversified. Therefore, the performance of commercial banks is always attracting the attention of managers, supervisors, banks and customers. Bank ranking can be viewed as a multi-criteria decision model. This article uses the technique for order of preference by similarity to ideal solution (TOPSIS) method to rank some commercial banks in Vietnam.

scholarly journals Comparison of the Economic Performance of Turkish Republics in Central Asia with TOPSIS Method

2015 ◽  
Author(s):  
Ziya Gökalp Göktolga ◽  
Engin Karakış ◽  
Hakan Türkay
Keyword(s):  
Decision Making ◽  
Central Asia ◽  
Economic Performance ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Economic Management ◽  
Macroeconomic Indicators ◽  
Order Preference ◽  
Negative Ideal Solution

The aim of this study is to compare the economic performance of Turkish Republics in Central Asia with Multi Criteria Decision Making (MCDM) methods. Turkish Republics have been experiencing a transition from a centrally planned economy towards a market economy since their independence. In this study important macroeconomic indicators are used to determine economic performance. Economic performance evaluation of the country is an important issue for economic management, investors, creditors and stock investors. Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method outranks the countries according to the proximity of the positive ideal solution and distance of the negative ideal solution. Economic Performance of Turkish Republics in Central Asia (Azerbaijan, Turkmenistan, Kazakhstan, Kyrgyzstan, and Uzbekistan) are compared with TOPSIS method. İnvestigated with TOPSIS method countries best and worst economic performance years are detected during mentioned period and results are analyzed.

scholarly journals A fuzzy multi-criteria decision-making method for purchasing life insurance in India

2021 ◽  
Vol 10 (1) ◽  
pp. 344-356
Author(s):  
Chinmaya Ranjan Pattnaik ◽  
Sachi Nandan Mohanty ◽  
Sarita Mohanty ◽  
Jyotir Moy Chatterjee ◽  
Biswajit Jana ◽  
...  
Keyword(s):  
Decision Making ◽  
Life Insurance ◽  
Complex Problem ◽  
Insurance Companies ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Insurance Company ◽  
Proposed Model ◽  
Decision Making Problem ◽  
Order Preference

Life insurance is an agreement between an insured and an insurer, where the insurer pays out a sum of money either on a specific period or the death of the insured. Now a day, People can buy a policy through an online platform. There are a lot of insurance companies available in the market, and each company has various policies. Selecting the best insurance company for purchasing an online term plan is a very complex problem. People may confuse to choose the best insurance company for buying an online term. It is a multi-criteria decision making (MCDM) problem, and the problem consists of different criteria and various alternatives. Here in this paper, a model has been proposed to solve this decision-making problem. In this model, a fuzzy multi-criteria decision-making approach combined with technique for order preference by similarity to ideal solution (TOPSIS) and it has been applied to rank the different insurance companies based on online term plans. The experimental results show that the life insurance corporation of India (LIC) gets the top rank out of 12 companies for purchasing an online term plan. A sensitivity analysis has been performed to validate the proposed model.

scholarly journals Optimal Fall Protection System Selection Using a Fuzzy Multi-Criteria Decision-Making Approach for Construction Sites

2021 ◽  
Vol 11 (11) ◽  
pp. 5296
Author(s):  
Haifeng Jin ◽  
Paul M. Goodrum
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Multi Criteria Decision Making ◽  
Construction Sites ◽  
Solution Approach ◽  
Order Preference ◽  
Fall Risks ◽  
Fall Protection ◽  
System Selection ◽  
Decision Making Model

Construction falls are a leading cause of fatalities in almost every construction industry around the globe, and fall protection systems are the key measures to ensure the safety of labor crews. This study develops a fuzzy multi-criteria decision-making model integrating analytical hierarchy process, fuzzy set theory and Technique for Order Preference by Similarity to Ideal Solution approach to analyze the overall performance of various fall protection plans for construction projects, which focuses on evaluation and selection of the appropriate protection plan considering the most influential safety, productivity, and economy factors. Results show that the optimal plan can be effectively identified and determined among all potential alternatives. Besides, the model overcomes the shortcoming of weight value uncertainty and ambiguous decision information through membership function calculations. As a result, it provides guidance for the improvement of construction performance, intending to minimize fall risks, improve labor productivity, and save economical cost on the jobsites.

scholarly journals Supplier Selection Very Small Aperture Terminal using AHP-TOPSIS Framework

2020 ◽  
Vol 1 (2) ◽  
pp. 39
Author(s):  
Sumanto Sumanto ◽  
Karlena Indriani ◽  
Lita Sari Marita ◽  
Ade Christian
Keyword(s):  
Decision Making ◽  
Analytical Hierarchy Process ◽  
Supplier Selection ◽  
Assessment Criteria ◽  
Ideal Solution ◽  
Small Aperture ◽  
Order Preference ◽  
Decision Making Model ◽  
Hierarchy Process ◽  
Selection Of

There are several methods of decision making VSAT IT goods suppliers such as: Promethee, Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), Analytical Hierarchy Process (AHP). Decision-making in the selection of the best suppliers, we have the basis of assessment criteria, and we will also be faced with more than one alternative. If alternatives are only two, maybe still easy for us to choose, but if the alternative is a lot of choice, it is quite difficult for us to decide. Analytical Hierarchy Process (AHP) is a technique that was developed to help overcome this difficulty, because the Analytical Hierarchy Process (AHP) is a form of decision-making model with many criteria. One of the reliability of the Analytical Hierarchy Process (AHP) is able to perform simultaneous analysis and integrated between the parameters of qualitative or quantitative. In this study the authors use six criteria and alternatives 6, the results of these alternatives will be obtained perangkingan alternative used as a reference supplier selection VSAT IT goods company Total EP Indonesie

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