An improved OWA-Fuzzy AHP decision model for multi-attribute decision making problem

Abstract

Multi-attribute decision-making (MADM) is an important part of modern decision-making science. Fuzzy Analytic Hierarchy Process (Fuzzy AHP) is a popular model to deal with the issue of MADM for its flexible and effective advantages. However, The traditional Fuzzy AHP with some limitations does not consider the preference (attitude) of decision makers (DMs). In addition, some ideas of combining Ordered Weighted Average (OWA) and Fuzzy AHP don’t investigated the MADM well. Some programs are only applicable to a few examples, and more general cases do not result in effective decision making. Considering these shortcomings, an OWA-Fuzzy AHP decision model using OWA weights and Fuzzy AHP is proposed in this paper. Our contribution is that the proposed method can handle situations where the degree of fuzzy synthesis is not intersected. Moreover, the loss of information can be reduced in the process of applying the proposed method, so that the decision result is more reasonable than the previous methods. Several examples and comparative experimental simulation are given to illustrate the effectiveness and superiority of the proposed model.

Probabilistic Interval Ordering Prioritized Averaging Operator and Its Application in Bank Investment Decision Making

“…The probabilistic interval ordering sets. [3,4] 0.1 [2,3] 0.7 , [3,4] 0.1 , [5,6] 0.2 [1,3] 0.5 , [3,4] 0.3 , [4,5] 0.2 [1,2] 0.7 , [3,4] 0.1 , [4,5] 0.2 C 2 [1,3] 0.4 , [3,4] 0.4 , [5,6] 0.2 [1,2] 0.35 , [2,3] 0.65 [2,3] 0.4 , [3,4] 0.55 , [4,5] 0.05 [1,3] 0.55 , [3,4] 0.45 C 3 [1,2] 0.2 , [2,3] 0.8 [2,3] 0.9, [3,4] 0.09 , [4,5] 0.01 [3,4] 0.9 , [4,…”

“…The consistency testing algorithm is used to eliminate the intervals that do not meet the conditions of PIPOE, and the probabilities of each interval are recalculated according to Equation ( 23) to obtain the revised set of probability intervals, as shown in Table 2. [3,4] 0.4 , [5,6] 0.2 [1,2] 0.35 , [2,3] 0.65 [2,3] 0.4 , [3,4] 0.55 , [4,5] 0.05 [1,3] 0.55 , [3,4] 0.45 C 3 [1,2] 0.2 , [2,3] 0.8 [2,3] 0.9 , [3,4] 0.09 , [4,5] 0.01 [3,4] 0.9 , [4,5] [3,4] 0.7 [1,2] 0.55 , [3,4] 0.41 , [4,5] 0.04 [1,2] 0.7 , [2,3] 0.3 C 5 [1,3] 0.9 , [3,4] 0.08 , [5,6] 0.02…”

“…It is an essential part of modern decision-making science, and the main problem of MADM focuses on evaluation and selection. Today, many MADM methods have been developed, such as the analytical hierarchy process (AHP) [1], the technique for order preference by similarity to an ideal solution (TOPSIS) [2], elimination et choice translating reality (ELECTRE) [3], and vlsekriterijumska optimizacija i kompromisno resenje (VIKOR) [4]. These decision-making models can be divided into two categories: the first type consists of decision-making methods based on value or utility function, and the second type consists of decision-making methods based on priority ranking.…”

A Novel q-Rung Dual Hesitant Fuzzy Multi-Attribute Decision-Making Method Based on Entropy Weights

“…Multi-attribute decision-making (MADM) indicates a series of decision-making problems that we often encounter in our daily life [1][2][3][4][5]. MADM theories and methods have received great interests and quite a few significant achievements have been published [6][7][8][9][10]. At the same time, these theories have also been applied in many fields to solve practical problems [11][12][13][14], such as the prevention of soil erosion [11] and factory location selection [12].…”