THE UNCERTAIN GENERALIZED OWA OPERATOR AND ITS APPLICATION TO FINANCIAL DECISION MAKING

José M. Merigó () and Montserrat Casanovas ()
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José M. Merigó: Department of Business Administration, University of Barcelona, Av. Diagonal 690, Barcelona 08034, Spain
Montserrat Casanovas: Department of Business Administration, University of Barcelona, Av. Diagonal 690, Barcelona 08034, Spain

International Journal of Information Technology & Decision Making (IJITDM), 2011, vol. 10, issue 02, 211-230

Abstract: We introduce the uncertain generalized OWA (UGOWA) operator. This operator is an extension of the OWA operator that uses generalized means and uncertain information represented as interval numbers. By using UGOWA, it is possible to obtain a wide range of uncertain aggregation operators such as the uncertain average (UA), the uncertain weighted average (UWA), the uncertain OWA (UOWA) operator, the uncertain ordered weighted geometric (UOWG) operator, the uncertain ordered weighted quadratic averaging (UOWQA) operator, the uncertain generalized mean (UGM), and many specialized operators. We study some of its main properties, and we further generalize the UGOWA operator using quasi-arithmetic means. The result is the Quasi-UOWA operator. We end the paper by presenting an application to a decision-making problem regarding the selection of financial strategies.

Keywords: OWA operator; aggregation operators; decision making; uncertainty; 90A05; 90B50; 62C99 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (6)

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DOI: 10.1142/S0219622011004300

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