Risk and confidence analysis for fuzzy multicriteria decision making |
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| Affiliation: | 1. School of Engineering and Built Environment, Griffith University, Southport, QLD, 4222, Australia;2. Cities Research Institute, Griffith University, Southport, QLD, 4222, Australia;3. Science and Technology Futures Studies, National Research Institute for Science Policy (NRISP), Tehran, Iran;4. Department of Mathematics, National Institute of Technology, Warangal, Telangana, 506004, India;5. University of South Florida, Tampa, FL, United States;1. School of Management, Shanghai University, Shanghai 200444, PR China;2. School of Economics and Management, Tongji University, Shanghai 200092, PR China;3. Decision Sciences Institute, Fuzhou University, Fuzhou 350116, PR China |
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| Abstract: | Recent research has recognised that multicriteria decision making (MCDM) should take account of uncertainty, risk and confidence. This paper takes this research forward by using linguistic variables and triangular fuzzy numbers to model the decision maker’s (DM) risk and confidence attitudes in order to define a more complete MCDM solution. To illustrate the computation process and demonstrate the feasibility of the results we use a travel problem that has been used previously to assess MCDM techniques. The results show that the method is useful for tackling imprecision and subjectivity in complex, ill-defined and human-oriented decision problems. |
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