Pythagorean fuzzy TODIM approach to multi-criteria decision making

Recently, the TODIM (an acronym in Portuguese for Interactive Multi-criteria Decision Making) approach, which can characterize the decision makers’ psychological behaviours under risk, has been introduced to handle multi-criteria decision making (MCDM) problems. Moreover, Pythagorean fuzzy set is an effective tool for depicting uncertainty of the MCDM problems. In this paper, based on the prospect theory, we first extend the TODIM approach to solve the MCDM problems with Pythagorean fuzzy information. Then, we conduct simulation tests to analyze how the risk attitudes of the decision makers exert the influence on the results of MCDM under uncertainty. Finally, a case study on selecting the governor of Asian Infrastructure Investment Bank is made to show the applicability of the proposed approach.     

Combining prospect theory and fuzzy numbers to multi-criteria decision making

Many multi-criteria decision making (MCDM) methods have been proposed to handle uncertain decision making problems. Most of them are based on fuzzy numbers and they are not able to cope with risk in decision making. In recent years, some MCDM methods based on prospect theory to handle risk MCDM problems have been developed. In this paper, we propose a hybrid approach combining prospect theory and fuzzy numbers to handle risk and uncertainty in MCDM problems. So, it is possible to tackle more challenging MCDM problems. A case study involving oil spill in the sea illustrates the application of the novel method.     

A new multi criteria decision making approach for medical imaging systems considering risk factors

Effective and good quality imaging is important for medical decision-making and can reduce unnecessary costs and procedures. Therefore, decision making regarding any technology can present serious problems for healthcare centers with multi criteria decision making problems (MCDM). This paper is the first to develop the fuzzy axiomatic design with risk factors (RFAD) approach and to use it in multi attribute comparisons of medical imaging systems in a university hospital. Although most MCDM approaches in the literature treat risk factors as separate criteria, in real life every alternative has its own risks related to each criterion. The proposed approach integrates the risk factors in each criterion and calculates the information content to compare alternatives. This paper applies three different approaches to MCDM problems related to the selection of medical imaging systems for a university hospital.     

A new method selection approach for fuzzy group multicriteria decision making

Fuzzy multicriteria decision making (MCDM) has been widely used in ranking a finite number of decision alternatives characterized by fuzzy assessments with respect to multiple criteria. In group decision settings, different fuzzy group MCDM methods often produce inconsistent ranking outcomes for the same problem. To address the ranking inconsistency problem in fuzzy group MCDM, this paper develops a new method selection approach for selecting a fuzzy group MCDM method that produces the most preferred group ranking outcome for a given problem. Based on two group averaging methods, three aggregation procedures and three defuzzification methods, 18 fuzzy group MCDM methods are developed as an illustration to solve the general fuzzy MCDM problem that requires cardinal ranking of the decision alternatives. The approach selects the group ranking outcome of a fuzzy MCDM method which has the highest consistency degree with its corresponding ranking outcomes of individual decision makers. An empirical study on the green bus fuel technology selection problem is used to illustrate how the approach works. The approach is applicable to large-scale group multicriteria decision problems where inconsistent ranking outcomes often exist between different fuzzy MCDM methods.     

A new flexible and reliable interval valued fuzzy VIKOR method based on uncertainty risk reduction in decision making process: An application for determining a suitable location for digging some pits for municipal wet waste landfill

Facility location selection problem is one of the challenging and famous kinds of MCDM problems including both quantitative and qualitative criteria. For each Multiple Criteria Decision Making (MCDM) problem, when the ratings of alternatives with respect to the criteria and/or the values of criteria’s weights are presented by Interval Valued Fuzzy Numbers (IVFNs), the conventional fuzzy MCDM methods (Type-1 fuzzy MCDM methods) tend to be less effective. Therefore, the IVF-MCDM (Interval Valued Fuzzy MCDM) methods should be applied for solving such fuzzy MCDM problems. In this paper, we propose an IVF-VIKOR (VlseKriterijumska Optimizacija I Kompromisno Resenje) method based on uncertainty risk reduction in decision making process. By using such method, the reliability of the captured decisions in an IVF decision making problem is significantly increased. The proposed method is applied for solving two numerical examples that the former of which is a real application problem related to selecting a suitable location for digging some pits for municipal wet waste landfill in one of the largest cities in Iran. The second numerical example is presented with an aim of comparing our method with the two other IVF-MCDM methods. As a result, we found out the proposed method is reliable and practical for the facility location selection problems and other MCDM problems. Moreover, the proposed method has a considerable accuracy and is flexible and easy to use.     

Finding the numerical compensation in multiple criteria decision-making problems under fuzzy environment

In this paper, we have developed a methodology to derive the level of compensation numerically in multiple criteria decision-making (MCDM) problems under fuzzy environment. The degree of compensation is dependent on the tranquility and anxiety level experienced by the decision-maker while taking the decision. Higher tranquility leads to the higher realisation of the compensation whereas the increased level of anxiety reduces the amount of compensation in the decision process. This work determines the level of tranquility (or anxiety) using the concept of fuzzy sets and its various level sets. The concepts of indexing of fuzzy numbers, the risk barriers and the tranquility level of the decision-maker are used to derive his/her risk prone or risk averse attitude of decision-maker in each criterion. The aggregation of the risk levels in each criterion gives us the amount of compensation in the entire MCDM problem. Inclusion of the compensation leads us to model the MCDM problem as binary integer programming problem (BIP). The solution to BIP gives us the compensatory decision to MCDM. The proposed methodology is illustrated through a numerical example.     

Building a qualitative recruitment system via SVM with MCDM approach

Advances in information technology have led to behavioral changes in people and submission of curriculum vitae (CV) via the Internet has become an often-seen phenomenon. Without any technological support for the filtering process, recruitment can be difficult. In this research, a method combining five-factor personality inventory, support vector machine (SVM), and multi-criteria decision-making (MCDM) method was proposed to improve the quality of recruiting appropriate candidates. The online questionnaire personality testing developed by the International Personality Item Pool (IPIP) was utilized to identify the personal traits of candidates and both SVM and MCDM were employed to predict and support the decision of personnel choice. SVM was utilized to predict the fitness of candidates, while MCDM was employed to estimate the performance for a job placement. The results show the proposed system provides a qualified matching according to the results collected from enterprise managers.     

Detection of level of satisfaction and fuzziness patterns for MCDM model with modified flexible S-curve MF

The present research work deals with a logistic membership function (MF), within non-linear MFs, in finding out fuzziness patterns in disparate level of satisfaction for Multiple Criteria Decision-Making (MCDM) problem. This MF is a modified form of general set of S-curve MF. Flexibility of this MF in applying to real world problem has also been validated through a detailed analysis. An example illustrating an MCDM model applied in an industrial engineering problem has been considered to demonstrate the veracity of the proposed technique. The approach presented here provides feedback to the decision maker, implementer and analyst and gives a clear indication about the appropriate application and usefulness of the MCDM model. The key objective of this paper is to guide decision makers in finding out the best candidate-alternative with higher degree of satisfaction with lesser degree of vagueness under tripartite fuzzy environment.     

Multi-criteria decision-making for coronavirus disease 2019 applications: a theoretical analysis review

The influence of the ongoing COVID-19 pandemic that is being felt in all spheres of our lives and has a remarkable effect on global health care delivery occurs amongst the ongoing global health crisis of patients and the required services. From the time of the first detection of infection amongst the public, researchers investigated various applications in the fight against the COVID-19 outbreak and outlined the crucial roles of different research areas in this unprecedented battle. In the context of existing studies in the literature surrounding COVID-19, related to medical treatment decisions, the dimensions of context addressed in previous multidisciplinary studies reveal the lack of appropriate decision mechanisms during the COVID-19 outbreak. Multiple criteria decision making (MCDM) has been applied widely in our daily lives in various ways with numerous successful stories to help analyse complex decisions and provide an accurate decision process. The rise of MCDM in combating COVID-19 from a theoretical perspective view needs further investigation to meet the important characteristic points that match integrating MCDM and COVID-19. To this end, a comprehensive review and an analysis of these multidisciplinary fields, carried out by different MCDM theories concerning COVID19 in complex case studies, are provided. Research directions on exploring the potentials of MCDM and enhancing its capabilities and power through two directions (i.e. development and evaluation) in COVID-19 are thoroughly discussed. In addition, Bibliometrics has been analysed, visualization and interpretation based on the evaluation and development category using R-tool involves; annual scientific production, country scientific production, Wordcloud, factor analysis in bibliographic, and country collaboration map. Furthermore, 8 characteristic points that go through the analysis based on new tables of information are highlighted and discussed to cover several important facts and percentages associated with standardising the evaluation criteria, MCDM theory in ranking alternatives and weighting criteria, operators used with the MCDM methods, normalisation types for the data used, MCDM theory contexts, selected experts ways, validation scheme for effective MCDM theory and the challenges of MCDM theory used in COVID-19 studies. Accordingly, a recommended MCDM theory solution is presented through three distinct phases as a future direction in COVID19 studies. Key phases of this methodology include the Fuzzy Delphi method for unifying criteria and establishing importance level, Fuzzy weighted Zero Inconsistency for weighting to mitigate the shortcomings of the previous weighting techniques and the MCDM approach by the name Fuzzy Decision by Opinion Score method for prioritising alternatives and providing a unique ranking solution. This study will provide MCDM researchers and the wider community an overview of the current status of MCDM evaluation and development methods and motivate researchers in harnessing MCDM potentials in tackling an accurate decision for different fields against COVID-19.

     

A De Novo multi-approaches multi-criteria decision making technique with an application in performance evaluation of material handling device

Application of multiple conventional approaches to a particular multi-criteria decision making (MCDM) problem often suffers rank reversal giving rise to confusion and ambiguity in appropriate decision making. To eradicate the confusion, this paper proposes a De Novo multi-approaches multi-criteria decision making method namely Technique of Precise Order Preference (TPOP). The TPOP first examines the inconsistency in the ranking order of the alternatives of a MCDM problem by using multiple conventional approaches. If inconsistency/rank reversal in ranking order of the alternatives exists then TPOP, using advanced version of entropy weighting method introduced in this research work, measures weights of the final selection values of conventional approaches. Subsequently, TPOP based on these weights and final selection values computes precise selection indices (PSI) that determines accurate ranking order for the alternatives. The proposed technique is illustrated by two real life examples on material handling device (MHD) ranking and selection problems. The first example is initially solved using five conventional integrated fuzzy multi-criteria decision making techniques (FMCDMs) whereas the second example is taken from previous researchers’ works. The results obtained using TPOP justify the validity, applicability and requirements of the proposed technique. The study shows that the proposed multi-approaches, multi-criteria decision making technique can be a useful and effective model in MCDM.     

An extension of fuzzy TOPSIS for a group decision making with an application to tehran stock exchange

In financial markets, investors attempt to maximize their profits within a constructed portfolio with the aim of optimizing the tradeoffs between risk and return across the many stocks. This requires proper handling of conflicting factors, which can benefit from the domain of multiple criteria decision making (MCDM). However, the indexes and factors representing the stock performance are often imprecise or vague and this should be represented by linguistic terms characterized by fuzzy numbers. The aim of this research is to first develop three group MCDM methods, then use them for selecting undervalued stocks by dint of financial ratios and subjective judgments of experts. This study proposes three versions of fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution): conventional TOPSIS (C-TOPSIS), adjusted TOPSIS (A-TOPSIS) and modified TOPSIS (M-TOPSIS) where a new fuzzy distance measure, derived from the confidence level of the experts and fuzzy performance ratings have been included in the proposed methods. The practical aspects of the proposed methods are demonstrated through a case study in the Tehran stock exchange (TSE), which is timely given the need for investors to select undervalued stocks in untapped markets in the anticipation of easing economic sanctions from a change in recent government leadership.     

Comparison of three modern multicriteria decision-making tools

The requirements, conditions and values encompassing a decision-making situation determine the decision maker's feasible alternative solutions and circumscribe the best solution. Various approaches have been suggested in the literature to identify the best solution for a class of problems called multicriteria decision making (MCDM). MCDM problems may be deterministic or non-deterministic. These approaches employ different methodologies and usually produce dissimilar solutions. Therefore, it is worthwhile to examine and compare the available MCDM methods. This paper focuses mainly on deterministic MCDM situations and methods and only a brief reference is made to their non-deterministic counterparts. We introduce a new performance measurement method called operational competitiveness rating (OCRA) and discuss its use as a deterministic MCDM tool. We demonstrate OCRA's application to a process selection problem that is adapted from an actual situation that involves qualitative data. W e compare the results obtained by OCRA with the results of analytic hierarchy process and data envelopment analysis to understand their similarities and differences. The comparison of these three non-parametric performance measurement tools provides some useful insights into their behaviour in actual MCDM situations.     

Hybrid MCDM based methodology for selecting the optimum maintenance strategy for ship machinery systems

The key to achieving optimum ship system reliability and safety is to have a sound maintenance management system in place for mitigating or eliminating equipment/component failures. Maintenance has three key elements; risk assessment, maintenance strategy selection and the process of determining the optimal interval for the maintenance task. The optimisation of these three main elements of maintenance is what constitute a sound maintenance management system. One of the challenges that marine maintenance practitioners are faced with is the problem of maintenance selection for each equipment item of the ship machinery system. The decision making process involves utilising different conflicting decision criteria in selecting the optimum maintenance strategy from among multiple maintenance alternatives. In tackling such decision making problems the application of a multi-criteria decision making (MCDM) method is appropriate. Hence in this paper two hybrid MCDM methods; Delphi-AHP and Delphi-AHP-PROMETHEE, are presented for the selection of appropriate maintenance strategies for ship machinery systems and other related ship systems. A case study of a ship machinery system maintenance strategy selection problem is used to demonstrate the suitability of the proposed methods.     

Sensitivity of multi-criteria decision making to linguistic quantifiers and aggregation means

Developments in Multi-Criteria (MCDM) and Multi-Expert decision-making allow for using linguistic quantifiers such as ‘all’, ‘most’, ‘at least half’ and similar terms as quantifiers for the decision. Additionally, new methods of aggregating the various opinions have been developed, giving the decision maker an increasingly large variety of options.This paper presents the concept of linguistic quantifiers and presents a collection of quantifiers with their associated weight functions. This paper explores the effect that the type of linguistic quantifier and the aggregation method used have on the ranking of alternatives. This study utilizes eleven linguistic quantifiers and four aggregation means using four well-documented MCDM problems.The results show that the effect of the linguistic quantifiers varies and some quantifiers have more impact on ranking of the alternatives then others. Additionally, the sensitivity of the decision made to the aggregation method is found to be relatively small. The study finds that the weighted harmonic mean is the most sensitive aggregation function to the changes of linguistic quantifiers. The results of this research allow the decision maker to choose the linguistic quantifier and aggregation method based on subjective belief without impeding the resulting decision.     

On Pythagorean fuzzy decision making using soft likelihood functions

Multicriteria decision making (MCDM) is to select the optimal candidate which has the best quality from a finite set of alternatives with multiple criteria. One important component of MCDM is to express the evaluation information, and the other one is to aggregate the evaluation results associated with different criteria. For the former, Pythagorean fuzzy set (PFS) is employed to represent uncertain information in this paper, and for the latter, the soft likelihood function developed by Yager is used. To address MCDM issues from a new perspective, the likelihood function of PFS is first proposed in this study and, to improve some of its limitations, the ordered weighted averaging (OWA)-based soft likelihood function is defined, which introduces the attitudinal characteristic to identify decision makers' subjective preferences. In addition, the defined soft likelihood function of PFS is extended by weighted OWA operator considering the importance weight of the argument. Several illustrative cases are provided based on the presented (weighted) OWA-based soft likelihood functions in Pythagorean fuzzy environment for MCDM problem.     

A ranking function based on principal‐value Pythagorean fuzzy set in multicriteria decision making

Multicriteria decision making (MCDM) has been attracting attention in recent years. There are two essential directions in the research territory, one direction is the research of representation of evaluation information and another is the construction of ranking function. In this paper, we consider some nonstandard fuzzy sets, intuitionistic, and interval‐valued fuzzy sets. Especially, the Pythagorean membership grade and Pythagorean fuzzy set receive much attention. Then, to reflect the importance of principal value, we shall propose the principal‐value Pythagorean fuzzy number (p‐PFN) and principal‐value Pythagorean fuzzy set. Furthermore, a novel ranking function is constructed to select the ideal alternative(s) based on p‐PFNs in MCDM. Finally, an investment strategy decision‐making problem is proposed to reveal the availability and practicability of the function under the new environment.     

Sensing degree of fuzziness in MCDM model using modified flexible S -curve MF

It is hard to sense the degree of vagueness while using a Multiple Criteria Decision-Making (MCDM) model in industrial engineering problems. Selection of best candidate-alternative is an important issue when the attributes of the candidate-alternatives are conflicting in nature and they have incommensurable units. An MCDM model makes it possible to select the candidate-alternative that suits best for the investor. An example illustrating an MCDM model applied in plant-site selection problem has been considered in this article to demonstrate the veracity of the proposed methodology. The degree of vagueness hidden in the proposed approach has been investigated using a flexible modified logistic membership function (MF). The approach presented here provides feedback to the decision maker, implementer and analyst and gives a clear indication about the appropriate application and usefulness of the MCDM model. The key objective of this article is to guide decision makers in finding out the best candidate-alternative with higher degree of satisfaction and lesser degree of vagueness.     

TOPSIS with belief structure for group belief multiple criteria decision making

The technique for order performance by similarity to ideal solution(TOPSIS)is one of the major techniques in dealing with multiple criteria decision making(MCDM)problems, and the belief structure(BS)model has been used successfully for uncertain MCDM with incompleteness, impreciseness or ignorance. In this paper, the TOPSIS method with BS model is proposed to solve group belief MCDM problems. Firstly, the group belief MCDM problem is structured as a belief decision matrix in which the judgments of each decision maker are described as BS models, and then the evidential reasoning approach is used for aggregating the multiple decision makers' judgments. Subsequently, the positive and negative ideal belief solutions are defined with the principle of TOPSIS. To measure the separation from ideal solutions, the concept and algorithm of belief distance measure are defined, which can be used for comparing the difference between BS models. Finally, the relative closeness and ranking index are calculated for ranking the alternatives. A numerical example is given to illustrate the proposed method.     

A new flexible and reliable IVF-TOPSIS method based on uncertainty risk reduction in decision making process

One of the challenging and famous types of MCDM (Multiple Criteria Decision Making) problems that includes both quantitative and qualitative criteria is Facility location selection problem. For the common fuzzy MCDM problems (Type-1 fuzzy MCDM problems), the ratings of alternatives with respect to the criteria or/and the values of criteria weights, are expressed by the common fuzzy numbers. However, in the majority of cases, determining the exact membership degree for each element of the fuzzy sets which are considered for the ratings of alternatives with respect to the criteria or/and the values of criteria weights as a number in interval [0,1], is difficult. In this situation, the ratings of alternatives with respect to the criteria or/and the values of criteria weights, are expressed by the IVFNs (Interval Valued Fuzzy Numbers) and thereby the IVF-MCDM (Interval Valued Fuzzy MCDM) methods should be used. In this paper, the authors propose an IVF-TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method based on uncertainty risk reduction in decision making process. By using this method, the reliability of the captured decisions in an IVF decision making problem is significantly increased. The proposed method is applied for solving a real application problem related to selecting a suitable location for digging some pits for municipal wet waste landfill in one of the largest cities in Iran. The proposed method is also compared with another IVF-TOPSIS method. As a result, the authors concluded that in addition to benefits such as simplicity and ease of use that exist in the previous IVF-TOPSIS methods, the proposed method has a significant reliability and flexibility and is practical for facility location selection problems and other IVF-MCDM problems.     

A new linguistic MCDM method based on multiple-criterion data fusion

Multiple-criteria decision-making (MCDM) is concerned with the ranking of decision alternatives based on preference judgements made on decision alternatives over a number of criteria. First, taking advantage of data fusion technology to comprehensively consider each criterion data is a reasonable idea to solve the MCDM problem. Second, in order to efficiently handle uncertain information in the process of decision making, some well developed mathematical tools, such as fuzzy sets theory and Dempster Shafer theory of evidence, are used to deal with MCDM. Based on the two main reasons above, a new fuzzy evidential MCDM method under uncertain environments is proposed. The rating of the criteria and the importance weight of the criteria are given by experts’ judgments, represented by triangular fuzzy numbers. Then, the weights are transformed into discounting coefficients and the ratings are transformed into basic probability assignments. The final results can be obtained through the Dempster rule of combination in a simple and straight way. A numerical example to select plant location is used to illustrate the efficiency of the proposed method.