Generalized Bonferroni mean operators in multi-criteria aggregation

In this paper we provide a systematic investigation of a family of composed aggregation functions which generalize the Bonferroni mean. Such extensions of the Bonferroni mean are capable of modeling the concepts of hard and soft partial conjunction and disjunction as well as that of k-tolerance and k-intolerance. There are several interesting special cases with quite an intuitive interpretation for application

An approach for uncertainty aggregation using generalised conjunction/disjunction aggregators

Decision Support Systems are often used in the area of system evaluation. The quality of the output of such a system is only as good as the quality of the data that is used as input. Uncertainty on data, if not taken into account, can lead to evaluation results that are not representative. In this paper, we propose a technique to extend Generalised Con- junction/Disjunction aggregators to deal with un- certainty in Decision Support Systems. We first de- fine the logic properties of uncertainty aggregation through reasoning on strict aggregators and after- wards extend this logic to partial aggregators

Constructing a comprehensive disaster resilience index: The case of Italy

Measuring disaster resilience is a key component of successful disaster risk management and climate change adaptation. Quantitative, indicator-based assessments are typically applied to evaluate resilience by combining various indicators of performance into a single composite index. Building upon extensive research on social vulnerability and coping/adaptive capacity, we first develop an original, comprehensive disaster resilience index (CDRI) at municipal level across Italy, to support the implementation of the Sendai Framework for Disaster Risk Reduction 2015–2030. As next, we perform extensive sensitivity and robustness analysis to assess how various methodological choices, especially the normalisation and aggregation methods applied, influence the ensuing rankings. The results show patterns of social vulnerability and resilience with sizeable variability across the northern and southern regions. We propose several statistical methods to allow decision makers to explore the territorial, social and economic disparities, and choose aggregation methods best suitable for the various policy purposes. These methods are based on linear and nonliner normalization approaches combining the OWA and LSP aggregators. Robust resilience rankings are determined by relative dominance across multiple methods. The dominance measures can be used as a decision-making benchmark for climate change adaptation and disaster risk management strategies and plans

A decade of application of the Choquet and Sugeno integrals in multi-criteria decision aid

The main advances regarding the use of the Choquet and Sugeno integrals in multi-criteria decision aid over the last decade are reviewed. They concern mainly a bipolar extension of both the Choquet integral and the Sugeno integral, interesting particular submodels, new learning techniques, a better interpretation of the models and a better use of the Choquet integral in multi-criteria decision aid. Parallel to these theoretical works, the Choquet integral has been applied to many new fields, and several softwares and libraries dedicated to this model have been developed.Choquet integral, Sugeno integral, capacity, bipolarity, preferences

Aggregating sentiment in Europe: the relationship with volatility and returns

This paper presents several proposals for creating an aggregate sentiment index for the European stock market. We achieve this objective by using the OWA and WOWA operators, which have been successful in finance and have a strong financial interpretation. We compute ten different aggregate sentiment indices for the 2007-2021 period and evaluate their ability to provide information about current and future market volatility and returns. We find several results of interest for both investors and policymakers. Sentiment indices have a strong negative relationship with market volatility. Extreme values of sentiment can predict future market returns, with low values indicating positive returns and high values suggesting negative returns. Finally, using stock market capitalisation as an input of the WOWA operator enhances explanatory power of the indices on future market returns compared to the OWA operator

Decision Support under Risk by Optimization of Scenario Importance Weighted OWA Aggregations, Journal of Telecommunications and Information Technology, 2009, nr 3

The problem of evaluation outcomes under several scenarios to form overall objective functions is of considerable importance in decision support under uncertainty. The fuzzy operator defined as the so-called weighted OWA (WOWA) aggregation offers a well-suited approach to this problem. TheWOWA aggregation, similar to the classical ordered weighted averaging (OWA), uses the preferential weights assigned to the ordered values (i.e., to the worst value, the second worst and so on) rather than to the specific criteria. This allows one to model various preferences with respect to the risk. Simultaneously, importance weighting of scenarios can be introduced. In this paper we analyze solution procedures for optimization problems with the WOWA objective functions related to decisions under risk. Linear programming formulations are introduced for optimization of the WOWA objective representing risk averse preferences. Their computational efficiency is demonstrated

Handling a large number of preferences in a multi-level decision-making process

The complexity of a decision is related to the number of persons that are involved, as well as to the diversity of their preferences based on their knowledge, experience or area of expertise. Consequently, it is a challenge to adequately handle a large number of heterogeneous preferences considering that all the participants are considered to be an important source of information to make better motivated decisions. Addressing this challenge constitutes the main motivation in this dissertation because these days decision makers seem to be increasingly interested in the opinions (or preferences) given by persons around a community (and sometimes around the world) through different sources including social media channels. This PhD study provides a set of tools that helps a decision maker to make better motivated decisions by a proper handling of a large number of preferences, identifying and evaluating relevant preferences and handling multiple perspectives. Herein, by 'preference' is meant a greater interest expressed by an individual for a particular alternative over others; by 'relevant' is meant a variety of preferences which are significant (or important) to a particular person acting as a decision maker; and by 'perspective' is understood a position (e.g., social, technical, financial or environmental) adopted by a decision maker when expressing his/ her preferences or constraints