Pythagorean fuzzy combinative distance-based assessment with pure linguistic information and its application to financial strategies of multi-national companies

This article addresses the issue of selecting Financial Strategies in Multi-National companies (F.S.M.). The F.S.M. typically has to consider multiple factors involving multiple stakeholders and, hence, can be handled by applying an appropriate Multi-Criteria Group Decision-Making (M.C.G.D.M.) approach. To address this issue, we develop an M.C.G.D.M. framework to tackle the F.S.M. problem. To handle inherent uncertainty in business decisions as reflected by linguistic reasoning, we embark on constructing a Linguistic Pythagorean Fuzzy (L.P.F.) M.C.G.D.M. framework that is capable of tackling both uncertain decision information and linguistic variables. The proposed approach extends the combinative distancebased assessment (C.O.D.A.S.) method into the L.P.F. environment, and processes decision input expressed as Pythagorean fuzzy sets (P.F.S.) and pure linguistic variables (rather than converting linguistic information into fuzzy numbers). The developed L.P.F.- C.O.D.A.S. technique aggregates the L.P.F. information and is applied to the F.S.M. problem with uncertain linguistic information. A comparative analysis is carried out to compare the results obtained from the proposed L.P.F.-C.O.D.A.S. approach with those from other extensions of C.O.D.A.S. Furthermore, a sensitivity analysis is conducted to check the impact of changes in a distance threshold parameter on the ranking results

Prioritization of low-carbon suppliers based on Pythagorean fuzzy group decision making with self-confidence level

Business decisions often require economic analysis involving uncertainties. This study brings forward the multi-attribute group decision making (MAGDM) framework based upon Pythagorean fuzzy (PF) sets with self-confidence of decision makers. By incorporating the ideas of the order-inducing variables of the induced ordered weighted averaging (IOWA) operator, we propose two PF confidence aggregation methods, namely PF confidence induced ordered weighted averaging (PFCIOWA) operator and PF confidence induced hybrid weighted averaging (PFCIHWA) operator. The focal property of the devised operators is their ability to take into consideration both the evaluation data and its corresponding confidence levels. Moreover, a MAGDM method based on the developed operators is adopted. Finally, the practicality of the method is tested by using low carbon supplier selection prob- lems. The new approach is compared against the existing ones in order to check its applicability and validity. As an empirical case, the low carbon supplier selection problem is solved

Improved Knowledge Measures for q-Rung Orthopair Fuzzy Sets

The q-rung orthopair fuzzy set (qROFS) defined by Yager is a generalization of Atanassov intuitionistic fuzzy set (IFS) and Pythagorean fuzzy sets (PyFSs). In this paper, we define the knowledge measure for qROFS by using the cosine inverse function. The information precision and information content are two facets of knowledge measure. Both facets of knowledge measure are considered. The properties of knowledge measure and their graphical explanations are discussed. An application of the knowledge measure in multi-attribute group decision-making (MAGDM) problem under the confidence level approach is given. A numerical example of the selection of renewable energy sources is discussed

Fuzzy Techniques for Decision Making 2018

Zadeh's fuzzy set theory incorporates the impreciseness of data and evaluations, by imputting the degrees by which each object belongs to a set. Its success fostered theories that codify the subjectivity, uncertainty, imprecision, or roughness of the evaluations. Their rationale is to produce new flexible methodologies in order to model a variety of concrete decision problems more realistically. This Special Issue garners contributions addressing novel tools, techniques and methodologies for decision making (inclusive of both individual and group, single- or multi-criteria decision making) in the context of these theories. It contains 38 research articles that contribute to a variety of setups that combine fuzziness, hesitancy, roughness, covering sets, and linguistic approaches. Their ranges vary from fundamental or technical to applied approaches

Multiple-Criteria Decision Making

Decision-making on real-world problems, including individual process decisions, requires an appropriate and reliable decision support system. Fuzzy set theory, rough set theory, and neutrosophic set theory, which are MCDM techniques, are useful for modeling complex decision-making problems with imprecise, ambiguous, or vague data.This Special Issue, “Multiple Criteria Decision Making”, aims to incorporate recent developments in the area of the multi-criteria decision-making field. Topics include, but are not limited to:- MCDM optimization in engineering;- Environmental sustainability in engineering processes;- Multi-criteria production and logistics process planning;- New trends in multi-criteria evaluation of sustainable processes;- Multi-criteria decision making in strategic management based on sustainable criteria

Fuzzy Sets in Business Management, Finance, and Economics

This book collects fifteen papers published in s Special Issue of Mathematics titled “Fuzzy Sets in Business Management, Finance, and Economics”, which was published in 2021. These paper cover a wide range of different tools from Fuzzy Set Theory and applications in many areas of Business Management and other connected fields. Specifically, this book contains applications of such instruments as, among others, Fuzzy Set Qualitative Comparative Analysis, Neuro-Fuzzy Methods, the Forgotten Effects Algorithm, Expertons Theory, Fuzzy Markov Chains, Fuzzy Arithmetic, Decision Making with OWA Operators and Pythagorean Aggregation Operators, Fuzzy Pattern Recognition, and Intuitionistic Fuzzy Sets. The papers in this book tackle a wide variety of problems in areas such as strategic management, sustainable decisions by firms and public organisms, tourism management, accounting and auditing, macroeconomic modelling, the evaluation of public organizations and universities, and actuarial modelling. We hope that this book will be useful not only for business managers, public decision-makers, and researchers in the specific fields of business management, finance, and economics but also in the broader areas of soft mathematics in social sciences. Practitioners will find methods and ideas that could be fruitful in current management issues. Scholars will find novel developments that may inspire further applications in the social sciences