A NEW METHOD FOR FINANCIAL DECISION MAKING UNDER INTUITIONISTIC LINGUISTIC ENVIRONMENT

Yao Xiao () and Chonghui Zhang ()
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Yao Xiao: School of Statistics, Beijing Normal University
Chonghui Zhang: Zhejiang University of Finance & Economics

ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, 2016, vol. 50, issue 3, 303-318

Abstract: Intuitionistic linguistic set is an effective tool to deal with uncertainty. In this paper we develop a new method for financial decision making problems under intuitionistic linguistic environment and introduce the induced intuitionistic linguistic ordered weighted averaging distance (IILOWAD) operator. The main advantage of this operator is that it is able to consider complex attitudinal characters of the decision-maker by using order-inducing variables in the aggregation of the Hamming distance. Moreover, it is able to deal with uncertain environments where the information is very imprecise and can be assessed with intuitionistic linguistic numbers. We studied some of IILOWAD’s main properties and different particular cases. We also develop an application of the new approach in a financial decisionmaking problem concerning the selection of civil engineering public project.

Keywords: Distance measures; Induced aggregation operators; intuitionistic linguistic numbers; decision making (search for similar items in EconPapers)
JEL-codes: D81 M12 M51 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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