Interval-valued intuitionistic fuzzy stochastic multi-criteria decision-making method based on Prospect theory

Kybernetes ◽  
2015 ◽  
Vol 44 (1) ◽  
pp. 25-42 ◽  
Author(s):  
Jianwei Gao ◽  
Huihui Liu
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Decision Maker ◽  
Score Function ◽  
Fuzzy Decision Making ◽  
Multi Criteria Decision Making ◽  
Content Type ◽  
Intuitionistic Fuzzy ◽  
New Criteria ◽  
Interval Valued

Purpose – The purpose of this paper is to provide a new approach to solving the interval-valued intuitionistic fuzzy stochastic multi-criteria decision-making (MCDM) problems. Design/methodology/approach – To transform the interval-valued intuitionistic fuzzy number (IVIFN) into a computational numerical value, a new precision score (P-score) function is developed based on the degrees of membership, non-membership and hesitation. The prospect decision-making matrix is derived by applying P-score function and Prospect theory. A new criteria weighting model is put forward based on the least square method, the maximizing deviation method and Prospect theory. Consequently, combined criteria weighting model with the prospect decision-making matrix, the integrated prospect value is derived which presents a measurement scale for ranking the order of alternatives. Findings – As a result, the method of the interval-valued intuitionistic fuzzy stochastic MCDM is suggested. In this method, the new P-score function responses the comprehensive information of the criteria. The prospect decision-making matrix can reflect the risk attitude of the decision maker. The new criteria weighting model can express both the subjective considerations of the decision maker and the objective information meaning. Research limitations/implications – The research results may lack generalizability for other fuzzy decision making because of the chosen research approach for IVIFN decision making. Therefore, researchers are encouraged to test the proposed propositions further. Practical implications – The developed approach can be applied in many decision-making fields such as selection of renewable energy alternatives, assessment of flexible manufacturing system alternatives and human resource alternatives performance evaluation, etc. where the evaluation values are IVIFNs. Originality/value – This paper succeeds in studying the interval-valued intuitionistic fuzzy MCDM based on Prospect theory, which has not been reported in the existing academic literature.

scholarly journals An Intuitionistic Fuzzy Stochastic Decision-Making Method Based on Case-Based Reasoning and Prospect Theory

2017 ◽  
Vol 2017 ◽  
pp. 1-13 ◽  
Author(s):  
Peng Li ◽  
Yingjie Yang ◽  
Cuiping Wei
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Programming Model ◽  
Score Function ◽  
Multicriteria Decision Making ◽  
Expected Utility Theory ◽  
Fuzzy Decision Making ◽  
Case Based Reasoning ◽  
Intuitionistic Fuzzy ◽  
Case Based

According to the case-based reasoning method and prospect theory, this paper mainly focuses on finding a way to obtain decision-makers’ preferences and the criterion weights for stochastic multicriteria decision-making problems and classify alternatives. Firstly, we construct a new score function for an intuitionistic fuzzy number (IFN) considering the decision-making environment. Then, we aggregate the decision-making information in different natural states according to the prospect theory and test decision-making matrices. A mathematical programming model based on a case-based reasoning method is presented to obtain the criterion weights. Moreover, in the original decision-making problem, we integrate all the intuitionistic fuzzy decision-making matrices into an expectation matrix using the expected utility theory and classify or rank the alternatives by the case-based reasoning method. Finally, two illustrative examples are provided to illustrate the implementation process and applicability of the developed method.

scholarly journals New Ranking Functions for Interval-Valued Intuitionistic Fuzzy Sets and Their Application to Multi-Criteria Decision-Making Problem

2021 ◽  
Vol 21 (1) ◽  
pp. 3-18
Author(s):  
Melda Kokoç ◽  
Süleyman Ersöz
Keyword(s):  
Decision Making ◽  
High Performance ◽  
Intuitionistic Fuzzy Set ◽  
Real Life ◽  
Score Function ◽  
Multi Criteria Decision Making ◽  
Ranking Functions ◽  
Intuitionistic Fuzzy ◽  
Life Problems ◽  
Interval Valued

Abstract Many authors agree that the Interval-Valued Intuitionistic Fuzzy Set (IVIFS) theory generates as realistic as possible evaluation of real-life problems. One of the real-life problems where IVIFSs are often preferred is the Multi-Criteria Decision-Making (MCDM) problem. For this problem, the ranking of values obtained by fuzzing the opinions corresponding to alternatives is an important step, as a failure in ranking may lead to the selection of the wrong alternative. Therefore, the method used for ranking must have high performance. In this article, a new score function SKE and a new accuracy function HKE are developed to overcome the disadvantages of existing ranking functions for IVIFSs. Then, two illustrative examples of MCDM problems are presented to show the application of the proposed functions and to evaluate their effectiveness. Results show that the functions proposed have high performance and they are the eligibility for the MCDM problem.

Call center performance measurement using intuitionistic fuzzy sets

2020 ◽  
Vol 33 (6) ◽  
pp. 1647-1668
Author(s):  
Basar Oztaysi ◽  
Sezi Cevik Onar ◽  
Cengiz Kahraman ◽  
Muharrem Gok
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Fuzzy Sets ◽  
Call Center ◽  
Intuitionistic Fuzzy Sets ◽  
Multi Criteria Decision Making ◽  
Content Type ◽  
Intuitionistic Fuzzy ◽  
Debt Collection ◽  
Interval Valued

PurposeThe companies are struggling to collect invoices due to the decrease in the economic growth. This global trend does not only affect undeveloped countries, but it also has a strong impact on the developed countries. Improving the debt collection process become a significant element to maintain financial stability. The institutions that are specialized on collecting payments, debt collection agencies and their call centers, with their expertise in the field can improve the payment process. Yet, managing evaluating the performance of debt collection agencies is a very hard process that involves uncertainty and imprecision. Performance measurement (PM) is a combination of numerically expressed characteristics which give insight about the success or degree of accomplishment of an activity. PM can be handled in various levels such as individual, team, department or company. The aim of this study is to present a systematic and objective PM method for call centers.Design/methodology/approachIn this study, first an exploratory approach is used to understand the call center measurement problem. Several meetings are done with the representatives of both call center firms and the parent firms that outsource debt collection process. Simultaneously, a broad literature review is conducted. An iterative approach is selected to reach deeper knowledge on the process. New meetings are planned and scope of the literature review has changed based on this iterative approach. After these steps, the problem has been considered as the multi-criteria decision-making problem since more than one criteria should be considered for evaluating the performances of call centers. The result of the literature review and the meetings with experts show that defining the weights for the criteria is very crucial for evaluating the performances accurately. Collecting human judgment for defining the weights of call center criteria necessitates dealing with vagueness and uncertainty. The intuitionistic fuzzy sets excellent tools for representing uncertainty. Interval valued intuitionistic fuzzy sets can easily represent the human judgments. Thus, in this study, an intuitionistic fuzzy multi-criteria decision making approach is used to design the proposed methodology. Incomplete interval-valued intuitionistic preference relations are used to determine the weights of the indicators aggregating linguistic evaluations of the decision makers.FindingsThe proposed approach provides an objective calculation of performance measurement. In order to provide objectivity, indicator performance functions are proposed for the first time in this study. Nine different functions and related parameters are defined to objectively measure indicator performances.Originality/valueThe paper proposes an objective and easy-to-modify approach for call-center PM, which can be used by call center managers. It presents a new fuzzy multi-criteria decision-making (MCDM) method for call center performance evaluation, which can consider the multi-experts' judgments under vagueness and impreciseness, which may be conflicting and incomplete interval-valued intuitionistic fuzzy preference relations. Also nine new functions are defined for indicator performance.

scholarly journals An Interval-Valued Intuitionistic Fuzzy TOPSIS Method Based on an Improved Score Function

2013 ◽  
Vol 2013 ◽  
pp. 1-6 ◽  
Author(s):  
Zhi-yong Bai
Keyword(s):  
Decision Making ◽  
Score Function ◽  
Fuzzy Topsis ◽  
Fuzzy Decision Making ◽  
Fuzzy Decision ◽  
Topsis Method ◽  
Intuitionistic Fuzzy ◽  
Relative Closeness ◽  
Intuitionistic Fuzzy Topsis ◽  
Interval Valued

This paper proposes an improved score function for the effective ranking order of interval-valued intuitionistic fuzzy sets (IVIFSs) and an interval-valued intuitionistic fuzzy TOPSIS method based on the score function to solve multicriteria decision-making problems in which all the preference information provided by decision-makers is expressed as interval-valued intuitionistic fuzzy decision matrices where each of the elements is characterized by IVIFS value and the information about criterion weights is known. We apply the proposed score function to calculate the separation measures of each alternative from the positive and negative ideal solutions to determine the relative closeness coefficients. According to the values of the closeness coefficients, the alternatives can be ranked and the most desirable one(s) can be selected in the decision-making process. Finally, two illustrative examples for multicriteria fuzzy decision-making problems of alternatives are used as a demonstration of the applications and the effectiveness of the proposed decision-making method.

Multi-criteria decision-making algorithm based on aggregation operators under the complex interval-valued q-rung orthopair uncertain linguistic information

2021 ◽  
pp. 1-30
Author(s):  
Harish Garg ◽  
Zeeshan Ali ◽  
Zaoli Yang ◽  
Tahir Mahmood ◽  
Sultan Aljahdali
Keyword(s):  
Decision Making ◽  
Brain Tumors ◽  
Score Function ◽  
Aggregation Operators ◽  
Multi Criteria Decision Making ◽  
Linguistic Features ◽  
Interval Numbers ◽  
Fundamental Properties ◽  
Interval Valued

The paper aims to present a concept of a Complex interval-valued q-rung orthopair uncertain linguistic set (CIVQROULS) and investigated their properties. In the presented set, the membership grades are considered in terms of the interval numbers under the complex domain while the linguistic features are added to address the uncertainties in the data. To further discuss more, we have presented the operation laws and score function for CIVQROULS. In addition to them, we present some averaging and geometric operators to aggregate the different pairs of the CIVQROULS. Some fundamental properties of the proposed operators are stated. Afterward, an algorithm for solving the decision-making problems is addressed based on the proposed operator using the CIVQROULS features. The applicability of the algorithm is demonstrated through a case study related to brain tumors and their effectiveness is compared with the existing studies.

Selection of resilient suppliers in manufacturing industries post-COVID-19: implications for economic and social sustainability in emerging economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abhijit Majumdar ◽  
Jeevaraj S ◽  
Mathiyazhagan Kaliyan ◽  
Rohit Agrawal
Keyword(s):  
Decision Making ◽  
Incomplete Information ◽  
Emerging Economies ◽  
Supplier Selection ◽  
Fuzzy Decision Making ◽  
Ideal Solution ◽  
Fuzzy Decision ◽  
Content Type ◽  
Intuitionistic Fuzzy ◽  
Selection Of

PurposeSelection of resilient suppliers has attracted the attention of researchers in the past one decade. The devastating effect of COVID-19 in emerging economies has provided great impetus to the selection of resilient suppliers. Under volatile and uncertain business scenarios, supplier selection is often done under imprecise and incomplete information, making the traditional decision-making methods ineffective. The purpose of this paper is to demonstrate the application of a fuzzy decision-making method for resilient supplier selection.Design/methodology/approachA group of three decision makers was considered for evaluating various alternatives (suppliers) based on their performance under different primary, sustainability and resilience criteria. Experts' opinion about each criterion and alternative was captured in linguistic terms and was modelled using fuzzy numbers. Then, an algorithm for solving resilient supplier selection problem based on the trapezoidal intuitionistic fuzzy technique for order preference by similarity to ideal solution (TrIFTOPSIS) was introduced and demonstrated through a case study.FindingsA closeness coefficient was used to rank the suppliers based on their distances from intuitionistic fuzzy positive-ideal solution and intuitionistic fuzzy negative-ideal solution. Finally, the proposed fuzzy decision making model was applied to a real problem of supplier selection in the clothing industry.Originality/valueThe presented TrIFTOPSIS model provides an effective route to prioritise and select resilient suppliers under imprecise and incomplete information. This is the first application of intuitionistic fuzzy multi-criteria decision-making for resilient supplier selection.

A new EDAS method based on prospect theory for Pythagorean fuzzy set and its application in selecting investment projects for highway

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peng Li ◽  
Ju Liu ◽  
Cuiping Wei ◽  
Jian Liu
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Bounded Rationality ◽  
Large Scale ◽  
Score Function ◽  
Critical Factor ◽  
High Grade ◽  
Content Type ◽  
Investment Projects ◽  
Criteria Weights

PurposeChina is a critical factor for constructing an all-round well-off society. Infrastructure construction, especially high-grade highways, in the western area is an essential component of the strategy for large-scale development of west China. It is crucial to evaluate investment projects for high-grade highways and select the best one. Testing investment projects and selecting the best one can be recognized as a multicriteria decision-making (MCDM) problem. In this process, decision-makers (DMs) usually face with uncertain information because of complicated decision environment or their limited knowledge.Design/methodology/approachA new Evaluation based on the Distance from Average Solution (EDAS) for PFS based on the DEMATEL is proposed: The authors offer a new score function and prove some properties for the score function. They put forward a novel Decision-making Trial and Evaluation Laboratory (DEMATEL) method for PFS to analyze the relations of criteria and get criteria weights. Considering the bounded rationality of DM, the authors propose a new EDAS method for PFS based on prospect theory. They apply their proposed approach to a western city's actual case in selecting a suitable project for building a high-grade highway.FindingsBy comparison, the authors can observe that our method has some traits: (1) considering bounded rationality of DM; (2) fewer computation; (3) having the ability to obtain the relation of criteria and finding the critical factor in the decision system.Originality/valueIn this paper, the authors propose a new EDAS method for PFS based on the DEMATEL technique. They transform PFS into crisp numbers by their proposed new score function for PFN to make the decision process more convenient. Then, the authors use the DEMATEL method to obtain the relationship between criteria and criteria weights. Furthermore, they propose a new EDAS method for PFS based on DEMATEL to reduce the computational complexity. Finally, they apply our method to a real case and compare our method with two traditional methods.

New Einstein Hybrid Aggregation Operators for Intuitionistic Fuzzy Sets and Applications in Multi-Criteria Decision-Making

2019 ◽  
pp. 252-283
Author(s):  
Bhagawati Prasad Joshi ◽  
Abhay Kumar
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Decision Maker ◽  
Intuitionistic Fuzzy Sets ◽  
Aggregation Operators ◽  
Weighted Averaging ◽  
Multi Criteria Decision Making ◽  
Intuitionistic Fuzzy ◽  
Fuzzy Environment ◽  
Decision Making Processes

The fusion of multidimensional intuitionistic fuzzy information plays an important part in decision making processes under an intuitionistic fuzzy environment. In this chapter, it is observed that existing intuitionistic fuzzy Einstein hybrid aggregation operators do not follow the idempotency and boundedness. This leads to sometimes illogical and even absurd results to the decision maker. Hence, some new intuitionistic fuzzy Einstein hybrid aggregation operators such as the new intuitionistic fuzzy Einstein hybrid weighted averaging (IFEHWA) and the new intuitionistic fuzzy Einstein hybrid weighted geometric (IFEHWG) were developed. The new IFEHWA and IFEHWG operators can weigh the arguments as well as their ordered positions the same as the intuitionistic fuzzy Einstein hybrid aggregation operators do. Further, it is validated that the defined operators are idempotent, bounded, monotonic and commutative. Then, based on the developed approach, a multi-criteria decision-making (MCDM) procedure is given. Finally, a numerical example is conducted to demonstrate the proposed method effectively.

Lean in higher education

2019 ◽  
Vol 27 (1) ◽  
pp. 82-102 ◽  
Author(s):  
Yigit Kazancoglu ◽  
Yesim Deniz Ozkan-Ozen
Keyword(s):  
Higher Education ◽  
Decision Making ◽  
Business School ◽  
Stage Structure ◽  
Fuzzy Decision Making ◽  
Multi Criteria Decision Making ◽  
Stage Model ◽  
Content Type ◽  
Road Map ◽  
Multi Stage

PurposeThis research aims to investigate and define the eight wastes of lean philosophy in higher education institutions (HEIs) by proposing a multi-stage model.Design/methodology/approachThe authors have used a specific multi-criteria decision-making method, fuzzy decision-making trial and evaluation laboratory, to investigate the cause–effect relationships and importance order between criteria for wastes in HEIs. In total, 22 criteria were categorized under eight wastes of lean. The study was implemented in a business school with the participation of faculty members from different departments.FindingsThe results showed that the most important wastes in the business school selected were repeated tasks, unnecessary bureaucracy, errors because of misunderstanding/communication problems, excessive number of academic units and creation of an excessive amount of information. Another important result was that all the sub-wastes of talent were in the causes group, while motion and transportation wastes were in the effect group.Practical implicationsA road map to guide lean transformation for HEIs is proposed with a multi-stage model and potential areas for improvement in HEIs were presented.Originality/valueThis study proposes a multi-stage structure by applying multi-criteria decision-making to HEIs, focussing on wastes from a lean perspective.

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