The Likelihood Ranking Methods for Interval Type-2 Fuzzy Sets Considering Risk Preferences

Meng Zhao, Song-song Qin, Qi-wang Li, Fu-qiang Lu and Zhe Shen

Mathematical Problems in Engineering, 2015, vol. 2015, 1-12

Abstract:

This paper proposes a ranking method that considers the risk preferences of decision makers for multiple-attribute decision-making problems in a multiple-interval type-2 trapezoidal fuzzy set environment. First, decision makers are classified according to the risk preferences and a measurement method of risk preferences is proposed. Second, a risk preference decision matrix is obtained and a new calculation formula of likelihood is defined. Finally, we obtain the ranking results of alternatives by calculating the signed distance. Our example analysis shows that the proposed method is scientific and reasonable, and different risk preferences influence the results of decision making. Comparison with previous methods shows that the proposed algorithm is more feasible; it is applicable for decision making on both risk preferences and risk conservation.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:680635

DOI: 10.1155/2015/680635

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