Nowadays greater and greater realistic financial problems are modeled by using the stochastic programming in the fuzzy environment. Hence, ranking a set of fuzzy numbers that is consistent with the investors' preference becomes important for modelling a realistic problem. In this paper, we will prov
The preference order of fuzzy numbers
β Scribed by L.-H. Chen; H.-W. Lu
- Publisher
- Elsevier Science
- Year
- 2002
- Tongue
- English
- Weight
- 832 KB
- Volume
- 44
- Category
- Article
- ISSN
- 0898-1221
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β¦ Synopsis
Many fuzzy number ranking approaches are developed in the literature for multiattribute decision-making problems. Almost all of the existing approaches focus on quantity measurement of fuzzy numbers for ranking purpose. In this paper, we consider the ranking process to determine a decision-maker's preference order of fuzzy numbers. A new ranking index is proposed to not only take quantity measurement, but incorporate quality factor into consideration for the need of general decision-making problems. For measuring quantity, several a-cuts of fuzzy numbers are used. A signal/noise ratio is defined to evaluate quality of a fuzzy number. This ratio considers the middle-point and spread of each a-cut of fuzzy numbers as the signal and noise, respectively. A fuzzy number with the stronger signal and the weaker noise is considered better. Moreover, the associated a levels are treated as the degree of belief about the a-cut and used as weights in the index for strengthening the influence of a-cut with higher a levels.
The membership functions of fuzzy numbers are not necessarily to be known beforehand while applying this index. Only a few left and right boundary values of a-cuts of fuzzy numbers are required. We have proved the feature of the proposed index in a particular case. Several examples axe also used to illustrate the feature and applicability in ranking fuzzy numbers. ~
π SIMILAR VOLUMES
We propose a ranking method for fuzzy numbers. In this method a preference function is deΓΏned by which fuzzy numbers are measured point by point and at each point the most preferred number is identiΓΏed. Then, these numbers are ranked on the basis of their preference ratio. Therefore, fuzzy numbers a
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