Double Fuzzy Probabilistic Interval Linguistic Term Set and a Dynamic Fuzzy Decision Making Model based on Markov Process with tts Application in Multiple Criteria Group Decision Making

Zongmin Liu

Papers from arXiv.org

Abstract: The probabilistic linguistic term has been proposed to deal with probability distributions in provided linguistic evaluations. However, because it has some fundamental defects, it is often difficult for decision-makers to get reasonable information of linguistic evaluations for group decision making. In addition, weight information plays a significant role in dynamic information fusion and decision making process. However, there are few research methods to determine the dynamic attribute weight with time. In this paper, I propose the concept of double fuzzy probability interval linguistic term set (DFPILTS). Firstly, fuzzy semantic integration, DFPILTS definition, its preference relationship, some basic algorithms and aggregation operators are defined. Then, a fuzzy linguistic Markov matrix with its network is developed. Then, a weight determination method based on distance measure and information entropy to reducing the inconsistency of DFPILPR and obtain collective priority vector based on group consensus is developed. Finally, an aggregation-based approach is developed, and an optimal investment case from a financial risk is used to illustrate the application of DFPILTS and decision method in multi-criteria decision making.

Date: 2021-11
New Economics Papers: this item is included in nep-ore and nep-upt
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