IT2-based fuzzy hybrid decision making approach to soft computing

WOS: 000459347800001This aims to evaluate the risk appetite of the financial investors in emerging economies using an integrated interval type-2 fuzzy model. For this purpose, eight different criteria are identified with the supporting literature. The interval type-2 fuzzy DEMAYEL approach is used to weight these criteria regarding the importance level. In addition, investors are classified into three different groups with respect to the risk appetite which are the aggressive/risk taker, moderate/risk neutral, and conservative/risk averse. Moreover, the interval type-2 fuzzy QUALIFLEX methodology is taken into consideration to rank these investor groups. The novelty of this paper is to propose a hybrid fuzzy decision-making approach to the investors' risk appetite based on the interval type-2 fuzzy sets. The findings show that aggressive investors play the most important role in emerging economies. Therefore, financial products, which offer high returns, should be developed to attract the attention of these aggressive investors. Owing to this aspect, it can be possible for emerging economies to improve their financial systems

Supplier Selection Problem under Z-information

AbstractSupplier selection problem is a very important element of Supply Chain Management systems. The existing works are devoted to solving this problem under deterministic, stochastic, interval-based and fuzzy information. Unfortunately, up today no systematic research on supplier selection under partial reliability of information is proposed. In this paper we suggest new method for solving supplier selection problem under fuzzy and partially reliable information formalized by using Z-numbers. The method is based on determination of Z-number valued ideal and negative ideal solutions. A numerical example is provided to illustrate validity of the proposed approach to supplier selection problem

Evaluating Emergency Response Solutions for Sustainable Community Development by Using Fuzzy Multi-Criteria Group Decision Making Approaches: IVDHF-TOPSIS and IVDHF-VIKOR

Emergency management is vital in implementing sustainable community development, for which community planning must include emergency response solutions to potential natural and manmade hazards. To help maintain such solution repository, we investigate effective fuzzy multi-criteria group decision making (FMCGDM) approaches for the complex problems of evaluating alternative emergency response solutions, where weights for decision makers and criteria are unknown due to problem complexity. We employ interval-valued dual hesitant fuzzy (IVDHF) set to address decision hesitancy more effectively. Based on IVDHF assessments, we develop a deviation maximizing model to compute criteria weights and another compatibility maximizing model to calculate weights for decision makers. Then, two ideal-solution-based FMCGDM approaches are proposed: (i) by introducing a synthesized IVDHF group decision matrix into TOPSIS, we develop an IVDHF-TOPSIS approach for fuzzy group settings; (ii) when emphasizing both maximum group utility and minimum individual regret, we extend VIKOR to develop an IVDHF-VIKOR approach, where the derived decision makers’ weights are utilized to obtain group decision matrix and the determined criteria weights are integrated to reflect the relative importance of distances from the compromised ideal solution. Compared with aggregation-operators-based approach, IVDHF-TOPSIS and IVDHF-VIKOR can alleviate information loss and computational complexity. Numerical examples have validated the effectiveness of the proposed approaches

A Framework for Supplier Selection Criteria in "LARG" Supply Chain based on a Literature Review

Suppliers are critical component to an organization that can greatly affect the performance of the organization and its product. Through these various effects, a revision is essential in supplier selection strategies. In this paper, a framework for supplier selection criteria in "LARG" (Lean, Agile, Resilient and Green) supply chain based on a literature review is proposed. A fuzzy method is used to evaluate suppliers, based on the determined criteria and calculate the weight of them. To our knowledge, this is the first effort to present a comprehensive framework for supplier selection criteria in "LARG" supply chain. In order to validate and demonstrate the applicability of the framework, a numerical example is presented. The result shows the framework is applicable to organizations and manufacturing institutions as well as their supply chains

Frank Aggregation Operators for Triangular Interval Type-2 Fuzzy Set and Its Application in Multiple Attribute Group Decision Making

This paper investigates an approach to multiple attribute group decision-making (MAGDM) problems, in which the individual assessments are in the form of triangle interval type-2 fuzzy numbers (TIT2FNs). Firstly, some Frank operation laws of triangle interval type-2 fuzzy set (TIT2FS) are defined. Secondly, some Frank aggregation operators such as the triangle interval type-2 fuzzy Frank weighted averaging (TIT2FFWA) operator and the triangle interval type-2 fuzzy Frank weighted geometric (TIT2FFWG) operator are developed for aggregation TIT2FNs. Furthermore, some desirable properties of the two aggregation operators are analyzed in detail. Finally, an approach based on TIT2FFWA (or TIT2FFWG) operator to solve MAGDM is developed. An illustrative example about supplier selection is provided to illustrate the developed procedures. The results demonstrate the practicality and effectiveness of our new method

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

Optimization for Decision Making II

In the current context of the electronic governance of society, both administrations and citizens are demanding the greater participation of all the actors involved in the decision-making process relative to the governance of society. This book presents collective works published in the recent Special Issue (SI) entitled “Optimization for Decision Making II”. These works give an appropriate response to the new challenges raised, the decision-making process can be done by applying different methods and tools, as well as using different objectives. In real-life problems, the formulation of decision-making problems and the application of optimization techniques to support decisions are particularly complex and a wide range of optimization techniques and methodologies are used to minimize risks, improve quality in making decisions or, in general, to solve problems. In addition, a sensitivity or robustness analysis should be done to validate/analyze the influence of uncertainty regarding decision-making. This book brings together a collection of inter-/multi-disciplinary works applied to the optimization of decision making in a coherent manner

Mathematical Fuzzy Logic in the Emerging Fields of Engineering, Finance, and Computer Sciences

Mathematical fuzzy logic (MFL) specifically targets many-valued logic and has significantly contributed to the logical foundations of fuzzy set theory (FST). It explores the computational and philosophical rationale behind the uncertainty due to imprecision in the backdrop of traditional mathematical logic. Since uncertainty is present in almost every real-world application, it is essential to develop novel approaches and tools for efficient processing. This book is the collection of the publications in the Special Issue “Mathematical Fuzzy Logic in the Emerging Fields of Engineering, Finance, and Computer Sciences”, which aims to cover theoretical and practical aspects of MFL and FST. Specifically, this book addresses several problems, such as:- Industrial optimization problems- Multi-criteria decision-making- Financial forecasting problems- Image processing- Educational data mining- Explainable artificial intelligence, etc

Uncertain Multi-Criteria Optimization Problems

Most real-world search and optimization problems naturally involve multiple criteria as objectives. Generally, symmetry, asymmetry, and anti-symmetry are basic characteristics of binary relationships used when modeling optimization problems. Moreover, the notion of symmetry has appeared in many articles about uncertainty theories that are employed in multi-criteria problems. Different solutions may produce trade-offs (conflicting scenarios) among different objectives. A better solution with respect to one objective may compromise other objectives. There are various factors that need to be considered to address the problems in multidisciplinary research, which is critical for the overall sustainability of human development and activity. In this regard, in recent decades, decision-making theory has been the subject of intense research activities due to its wide applications in different areas. The decision-making theory approach has become an important means to provide real-time solutions to uncertainty problems. Theories such as probability theory, fuzzy set theory, type-2 fuzzy set theory, rough set, and uncertainty theory, available in the existing literature, deal with such uncertainties. Nevertheless, the uncertain multi-criteria characteristics in such problems have not yet been explored in depth, and there is much left to be achieved in this direction. Hence, different mathematical models of real-life multi-criteria optimization problems can be developed in various uncertain frameworks with special emphasis on optimization problems

Algebraic structures of neutrosophic triplets, neutrosophic duplets, or neutrosophic multisets. Volume II

The topics approached in this collection of papers are: neutrosophic sets; neutrosophic logic; generalized neutrosophic set; neutrosophic rough set; multigranulation neutrosophic rough set (MNRS); neutrosophic cubic sets; triangular fuzzy neutrosophic sets (TFNSs); probabilistic single-valued (interval) neutrosophic hesitant fuzzy set; neutro-homomorphism; neutrosophic computation; quantum computation; neutrosophic association rule; data mining; big data; oracle Turing machines; recursive enumerability; oracle computation; interval number; dependent degree; possibility degree; power aggregation operators; multi-criteria group decision-making (MCGDM); expert set; soft sets; LA-semihypergroups; single valued trapezoidal neutrosophic number; inclusion relation; Q-linguistic neutrosophic variable set; vector similarity measure; fundamental neutro-homomorphism theorem; neutro-isomorphism theorem; quasi neutrosophic triplet loop; quasi neutrosophic triplet group; BE-algebra; cloud model; fuzzy measure; clustering algorithm; and many more