Novel Fermatean Fuzzy Aczel–Alsina Model for Investment Strategy Selection

Iftikhar Ul Haq, Tanzeela Shaheen, Wajid Ali, Hamza Toor, Tapan Senapati, Francesco Pilla and Sarbast Moslem ()
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Iftikhar Ul Haq: Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan
Tanzeela Shaheen: Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan
Wajid Ali: Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan
Hamza Toor: Department of Biomedical Engineering, Riphah International University, Islamabad 45320, Pakistan
Tapan Senapati: Department of Mathematics, Padima Janakalyan Banipith, Kukrakhupi, Jhargram 721517, India
Francesco Pilla: School of Architecture Planning and Environmental Policy, University College Dublin, Belfield, D04 V1W8 Dublin, Ireland
Sarbast Moslem: School of Architecture Planning and Environmental Policy, University College Dublin, Belfield, D04 V1W8 Dublin, Ireland

Mathematics, 2023, vol. 11, issue 14, 1-23

Abstract: For choosing the optimal option for multiple issues, the multiattribute decision-making (MADM) technique within a Fermatean fuzzy environment is a well-known and significant method. This paper presents a novel superiority inferiority ranking (SIR) approach for Fermatean fuzzy sets in group decision-making using multicriteria to reduce investment risk. This approach aims to evaluate the strategies for selecting the optimal investment company. The SIR method is depicted, and its effectiveness in decision-making is explored. In this manuscript, we develop new types of A c z e l –A l s i n a operations on the Fermatean fuzzy environment and Fermatean Fuzzy A c z e l –A l s i n a (FF-AA) average aggregation operators, including their properties such as idempotency, monotonicity, and boundedness. Further, we introduce a Fermatean fuzzy A c z e l –A l s i n a weighted average closeness coefficient (FF-AA-WA- C C ) aggregation operator (AO) based on the closeness coefficient for MAGDM issues. By utilizing the proposed technique, we solve a numerical example of an MAGDM problem. The results show that this approach is accurate and practical, and consistent with a realistic investment circumstance. A demonstration was created to emphasize the significance and credibility of this approach and assess its validity by comparing its outcomes with the established methods.

Keywords: Fermatean fuzzy sets; A????–A????? operators; multicriteria group decision-making; superiority and inferiority ranking (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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