scholarly journals A Hybrid Technique for Order Preference in Decision-Making

2015 ◽  
Vol 2015 ◽  
pp. 1-9
Author(s):  
Ismat Beg ◽  
Tabasam Rashid
Keyword(s):  
Decision Making ◽  
Fuzzy Numbers ◽  
New Method ◽  
Hybrid Technique ◽  
Ideal Solution ◽  
Laboratory Technique ◽  
Decision Making Problem ◽  
Classical Technique ◽  
Order Preference ◽  
Interaction Phenomena

We propose a hybrid technique by merging fuzzy version of the classical technique for order preference by similarity to ideal solution and decision-making trial and evaluation laboratory technique for trapezoidal fuzzy numbers, where interaction phenomena among the decision-making problem and weights are taken into account. The feasibility of this new method is demonstrated by applying it to an example.

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 A New Approach for Ranking Shadowed Fuzzy Numbers and its Application

2020 ◽  
Vol 12 (6) ◽  
pp. 17-32
Author(s):  
Mohamed A. H. El-Hawy
Keyword(s):  
Decision Making ◽  
Fuzzy Numbers ◽  
Standard Form ◽  
Decision Makers ◽  
New Method ◽  
New Approach ◽  
Decision Making Problem ◽  
Different Types ◽  
Multi Attribute Decision Making ◽  
The Comparative Study

In many decision situations, decision-makers face a kind of complex problems. In these decision-making problems, different types of fuzzy numbers are defined and, have multiple types of membership functions. So, we need a standard form to formulate uncertain numbers in the problem. Shadowed fuzzy numbers are considered granule numbers which approximate different types and different forms of fuzzy numbers. In this paper, a new ranking approach for shadowed fuzzy numbers is developed using value, ambiguity and fuzziness for shadowed fuzzy numbers. The new ranking method has been compared with other existing approaches through numerical examples. Also, the new method is applied to a hybrid multi-attribute decision making problem in which the evaluations of alternatives are expressed with different types of uncertain numbers. The comparative study for the results of different examples illustrates the reliability of the new method.

scholarly journals A Novel Approach On Decision Support System Based On Triangular Linguistic Cubic Fuzzy Dombi Aggregation Operators

2021 ◽  
Author(s):  
Muhammad Qiyas ◽  
Saleem Abdullah ◽  
Ronnason Chinram ◽  
Muneeza .
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Fuzzy Numbers ◽  
Uncertain Data ◽  
Aggregation Operators ◽  
New Method ◽  
Weighted Averaging ◽  
Fuzzy Data ◽  
Novel Approach ◽  
Decision Making Problem

Abstract The triangular linguistic cubic fuzzy sets (TLCFSs) can express the fuzzy data easily, and also very useful in modeling of uncertain data in decision making (DM) problems. First of all, on the basis of Dombi t-norm and t-conorm (DTT), we propose novel operational rules of triangular linguistic cubic fuzzy numbers (TLCFNs). We propose some new aggregation operators of TLCFNs based on the newly-developed operations, i.e., triangular linguistic cubic fuzzy Dombi weighted averaging (TLCFDWA), triangular linguistic cubic fuzzy Dombi weighted geometric (TLCFDWG), triangular linguistic cubic fuzzy Dombi order weighted averaging (TLCFDOWA), triangular linguistic cubic fuzzy Dombi order weighted geometric (TLCFDOWG), triangular linguistic cubic fuzzy Dombi hybrid weighted averaging (TLCFDHWA), and triangular linguistic cubic fuzzy Dombi hybrid weighted geometric (TLCFDHWG) operators. Furthermore, a new method is proposed with the help of the proposed operators to solved the decision making problem. Finally, a numerical example is provided to illustrate the effectiveness of the new method. Comparative analysis is used to demonstrate the proposed method's superiority.

scholarly journals Integration of AHP and GTMA to Make a Reliable Decision in Complex Decision-Making Problems: Application of the Logistics Provider Selection Problem as a Case Study

Symmetry ◽  
2020 ◽  
Vol 12 (5) ◽  
pp. 766
Author(s):  
Danijela Tuljak-Suban ◽  
Patricija Bajec
Keyword(s):  
Decision Making ◽  
Analytic Network Process ◽  
Third Party ◽  
Selection Problem ◽  
New Method ◽  
Analytic Hierarchy ◽  
Decision Making Problem ◽  
Network Process ◽  
Complex Decision Making ◽  
Complex Decision

When solving a Multi-Criteria Decision-Making problem of any degree of complexity, many researchers rely on the analytic hierarchy process (AHP). To consider mutual connections between criteria and clusters at the same level and not only the hierarchical structure between criteria and subcriteria, researchers often upgrade from AHP to the Analytic Network Process (ANP), which also examines the interdependency of criteria. However, the ANP method requires a large number of pairwise comparisons. In the case of a complex decision-making problem, the authors of this paper suggest upgrading the AHP method with the graph theory and matrix approach (GTMA) for several reasons: (1) The new method is based on digraphs and permanent value computation, which does not require a hypothesis about interdependency; (2) in case of similar alternatives, the distinguishable coefficient of the new method is higher than those computed for AHP and ANP; (3) the new method allows decision makers to rank comparable alternatives and to combine structurally similar methods without increasing the number of comparisons and the understanding of the results. The developed method (AH-GTMA) is validated by a numerical example of a complex decision-making problem based on a symmetrical set of similar alternatives, a third party logistic provider (3PLP) selection problem.

A New Method for Ranking Intuitionistic Fuzzy Numbers

2011 ◽  
Vol 2 (1) ◽  
pp. 43-49 ◽  
Author(s):  
Cui-Ping Wei ◽  
Xijin Tang
Keyword(s):  
Decision Making ◽  
Fuzzy Numbers ◽  
Score Function ◽  
Ranking Method ◽  
New Method ◽  
Multi Criteria Decision Making ◽  
Intuitionistic Fuzzy Numbers ◽  
Additional Information ◽  
Intuitionistic Fuzzy ◽  
Possibility Degree

In this paper the ranking method for intuitionistic fuzzy numbers is studied. The authors first define a possibility degree formula to compare two intuitionistic fuzzy numbers. In comparison with Chen and Tan’s score function, the possibility degree formula provides additional information for the comparison of two intuitionistic fuzzy numbers. Based on the possibility degree formula, the authors give a possibility degree method to rank intuitionistic fuzzy numbers, which is used to rank the alternatives in multi-criteria decision making problems.

A multi-criteria decision-making method based on triangular interval-valued fuzzy numbers and the VIKOR method

2021 ◽  
Vol 40 (1) ◽  
pp. 221-233
Author(s):  
Xingang Wang ◽  
Ke Wang
Keyword(s):  
Decision Making ◽  
Fuzzy Numbers ◽  
Fuzzy Theory ◽  
Research Direction ◽  
Vikor Method ◽  
Connection Number ◽  
Criterion Weight ◽  
Decision Making Problem ◽  
Electre Method ◽  
Interval Valued

In many cases, complex problems cannot be accurately described by precise numerical values. Fuzzy theory provides a suitable tool for solving these problems. However, if decision makers cannot reach an agreement on the method for defining linguistic variables based on fuzzy sets, TIVFNs (triangular interval-valued fuzzy numbers) can provide more accurate modeling. Therefore, solving fuzzy MCGDM (multiple criteria group decision-making) problem with an unknown expert weight and criterion weight in TIVFNs has become an important research direction. In this paper, TIVF-VIKOR (triangular interval-valued fuzzy VIKOR) method, which is suitable for the environment of TIVFNs, is proposed to solve the problem of fuzzy MCGDM. To achieve this goal, the TIVF-VIKOR method is innovatively adopted similarity and coefficient of variation are combined to calculate expert weight, and deviation maximization method based on divergence matrix is used to calculate criterion weight. VIKOR method is used to find the compromise solutions, which are converted into the form of binary connection number, and the optimal compromise solution is obtained after ranking. The proposed method is applied to the problem of machine fault detection, and the validity and feasibility of the method are illustrated. Compared with the TOPSIS∖ELECTRE method, the ranking results of the three methods are equivalent, and the fluctuation of the TIVF-VIKOR method is more distinct.

scholarly journals Ranking Fuzzy Numbers with a Distance Method using Circumcenter of Centroids and an Index of Modality

2011 ◽  
Vol 2011 ◽  
pp. 1-7 ◽  
Author(s):  
P. Phani Bushan Rao ◽  
N. Ravi Shankar
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Satisfactory Result ◽  
Fuzzy Numbers ◽  
New Method ◽  
Triangular Fuzzy Numbers ◽  
Distance Method ◽  
Fuzzy Environment ◽  
Index Of Optimism

Ranking fuzzy numbers are an important aspect of decision making in a fuzzy environment. Since their inception in 1965, many authors have proposed different methods for ranking fuzzy numbers. However, there is no method which gives a satisfactory result to all situations. Most of the methods proposed so far are nondiscriminating and counterintuitive. This paper proposes a new method for ranking fuzzy numbers based on the Circumcenter of Centroids and uses an index of optimism to reflect the decision maker's optimistic attitude and also an index of modality that represents the neutrality of the decision maker. This method ranks various types of fuzzy numbers which include normal, generalized trapezoidal, and triangular fuzzy numbers along with crisp numbers with the particularity that crisp numbers are to be considered particular cases of fuzzy numbers.

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