An Innovative Decision Model Utilizing Intuitionistic Hesitant Fuzzy Aczel-Alsina Aggregation Operators and Its Application

Wajid Ali (), Tanzeela Shaheen, Hamza Ghazanfar Toor, Faraz Akram, Md. Zia Uddin and Mohammad Mehedi Hassan
Additional contact information
Wajid Ali: Department of Mathematics, Air University, E-9, Islamabad 44000, Pakistan
Tanzeela Shaheen: Department of Mathematics, Air University, E-9, Islamabad 44000, Pakistan
Hamza Ghazanfar Toor: Biomedical Engineering Department, Riphah International University, Islamabad 46000, Pakistan
Faraz Akram: Biomedical Engineering Department, Riphah International University, Islamabad 46000, Pakistan
Md. Zia Uddin: Software and Service Innovation, SINTEF Digital, 0373 Oslo, Norway
Mohammad Mehedi Hassan: Information Systems Department, College of Computer and Information Sciences, King Saud University, Riyadh 11543, Saudi Arabia

Mathematics, 2023, vol. 11, issue 12, 1-22

Abstract: The intuitionistic hesitant fuzzy set is a significant extension of the intuitionistic fuzzy set, specifically designed to address uncertain information in decision-making challenges. Aggregation operators play a fundamental role in combining intuitionistic hesitant fuzzy numbers into a unified component. This study aims to introduce two novel approaches. Firstly, we propose a three-way model for investors in the business domain, which utilizes interval-valued equivalence classes under the framework of intuitionistic hesitant fuzzy information. Secondly, we present a multiple-attribute decision-making (MADM) method using various aggregation operators for intuitionistic hesitant fuzzy sets (IHFSs). These operators include the IHF Aczel–Alsina average ( I H F A A A ) operator, the IHF Aczel–Alsina weighted average ( I H F A A W A ϣ ) operator, and the IHF Aczel–Alsina ordered weighted average ( I H F A A O W A ϣ ) operator and the IHF Aczel–Alsina hybrid average ( I H F A A H A ϣ ) operators. We demonstrate the properties of idempotency, boundedness, and monotonicity for these newly established aggregation operators. Additionally, we provide a detailed technique for three-way decision-making using intuitionistic hesitant fuzzy Aczel–Alsina aggregation operators. Furthermore, we present a numerical case analysis to illustrate the pertinency and authority of the esteblished model for investment in business. In conclusion, we highlight that the developed approach is highly suitable for investment selection policies, and we anticipate its extension to other fuzzy information domains.

Keywords: intuitionistic fuzzy sets; hesitant fuzzy sets; three-way decision; Aczel–Alsina aggregation operators; MADM (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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