Picture Fuzzy Weighted Distance Measures and their Application to Investment Selection

Meiling Liu, Shouzhen Zeng (), Tomas Baležentis and Dalia Streimikiene
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Meiling Liu: School of Business, Zhejiang Wanli University, Ningbo, China
Shouzhen Zeng: School of Business, Ningbo University, Ningbo, China
Dalia Streimikiene: Lithuanian Institute of Agrarian Economics, Vilnius, Lithuania

The AMFITEATRU ECONOMIC journal, 2019, vol. 21, issue 52, 682

Abstract: The picture fuzzy set (PFS) is a powerful tool to collect and handle large amounts of uncertain assess information in a new light. In this study, we explore some distance measures for the PFSs and propose Picture fuzzy ordered weighted distance measure and Picture fuzzy hybrid weighted distance measure. Some of their properties are also mathematically explored. Moreover, we introduce a model for the aforesaid distance measures to solve multiple attribute group decision making (MAGDM) method in an updated way. And at the end of our paper a practical application of investment alternatives selection is provided to illustrate the validity and applicability of the presented work.

Keywords: Picture fuzzy set; distance measures; ordered weighted distance; multiple attribute group decision making; investment selection (search for similar items in EconPapers)
JEL-codes: A12 C44 C60 D81 D89 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:21:y:2019:i:52:p:682

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