CODAS method for 2-tuple linguistic Pythagorean fuzzy multiple attribute group decision making and its application to financial management performance assessment
Abstract
Financial management performance evaluation (FMPE) has a significant effect on the identifying an investment chance. We can usually consider FMPE as a multiple attribute group decision making (MAGDM) issue, and the MAGDM method is needed to address it. Uncertainty may be one of the significant factors which could influence the process of MAGDM. In order to handle the uncertainty of group decision-making issues, MAGDM approaches along with 2-tuple linguistic Pythagorean fuzzy sets (2TLPFSs) have been designed. In this essay, CODAS method is extended to 2TLPFSs to tackle MAGDM issues. Linguistic variables and 2TLPFSs are also used to extend the CODAS method. An application of the presented 2-tuple linguistic Pythagorean fuzzy CODAS (2TLPF-CODAS) method to a case study of FMPE problem with 2-tuple linguistic Pythagorean fuzzy numbers (2TLPFNs) is given. To confirm the results, a comparative analysis between the fuzzy CODAS and 2TLPF-TODIM is performed. The results of the comparison illustrate that the presented 2TLPF-CODAS method offers effective and steady results.
Keyword : MAGDM, 2TLPFSs, CODAS method, 2TLPF-CODAS method, financial management performance evaluation
How to Cite
He, T., Zhang, S., Wei, G., Wang, R., Wu, J., & Wei, C. (2020). CODAS method for 2-tuple linguistic Pythagorean fuzzy multiple attribute group decision making and its application to financial management performance assessment. Technological and Economic Development of Economy, 26(4), 920-932. https://doi.org/10.3846/tede.2020.11970
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Wang, J., Gao, H., & Wei, G. W. (2019b). The generalized Dice similarity measures for Pythagorean fuzzy multiple attribute group decision making. International Journal of Intelligent Systems, 34(6), 1158–1183. https://doi.org/10.1002/int.22090
Wang, R. (2019). Research on the application of the financial investment risk appraisal models with some interval number muirhead mean operators. Journal of Intelligent & Fuzzy Systems, 37(2), 1741–1752. https://doi.org/10.3233/JIFS-179237
Wei, G. W. (2019a). 2-tuple intuitionistic fuzzy linguistic aggregation operators in multiple attribute decision making. Iranian Journal of Fuzzy Systems, 16(4), 159–174.
Wei, G. W. (2019b). The generalized dice similarity measures for multiple attribute decision making with hesitant fuzzy linguistic information. Economic Research-Ekonomska Istrazivanja, 32(1), 1498–1520. https://doi.org/10.1080/1331677X.2019.1637765
Wei, G. W. (2019c). Pythagorean fuzzy hamacher power aggregation operators in multiple attribute decision making. Fundamenta Informaticae, 166(1), 57–85. https://doi.org/10.3233/FI-2019-1794
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Zadeh, L. A. (1965). Fuzzy Sets. Information and Control, 8(3), 338–356. https://doi.org/10.1016/S0019-9958(65)90241-X
Zeb, A., Khan, M. S. A., & Ibrar, M. (2019). Approaches to multi-attribute decision making with risk preference under extended Pythagorean fuzzy environment. Journal of Intelligent & Fuzzy Systems, 36(1), 325–335. https://doi.org/10.3233/JIFS-181385
Zeng, S. Z., Chen, J. P., & Li, X. S. (2016). A hybrid method for Pythagorean fuzzy multiple-criteria decision making. International Journal of Information Technology & Decision Making, 15(2), 403–422. https://doi.org/10.1142/S0219622016500012
Zhang, C., Li, D. Y., & Ren, R. (2016). Pythagorean fuzzy multigranulation rough set over two universes and its applications in Merger and acquisition. International Journal of Intelligent Systems, 31(9), 921–943. https://doi.org/10.1002/int.21811
Zhang, Q. S., & Jiang, S. Y. (2010). Relationships between entropy and similarity measure of intervalvalued intuitionistic fuzzy sets. International Journal of Intelligent Systems, 25(11), 1121–1140. https://doi.org/10.1002/int.20442
Zhang, R. T., Wang, J., Zhu, X. M., Xia, M. M., & Yu, M. (2017). Some generalized Pythagorean fuzzy Bonferroni mean aggregation operators with their application to multiattribute group decisionmaking. Complexity, 2017, 5937376. https://doi.org/10.1155/2017/5937376
Zhang, X. L. (2016). Multicriteria Pythagorean fuzzy decision analysis: A hierarchical QUALIFLEX approach with the closeness index-based ranking methods. Information Sciences, 330, 104–124. https://doi.org/10.1016/j.ins.2015.10.012
Zhu, L., Liang, X. F., Wang, L., & Wu, X. R. (2018). Generalized pythagorean fuzzy point operators and their application in multi-attributes decision making. Journal of Intelligent & Fuzzy Systems, 35(2), 1407–1418. https://doi.org/10.3233/JIFS-169683
Badi, I., Ballem, M. A., & Shetwan, A. (2018). Site selection of desalination plant in Libya by using combinative distance-based assessment (CODAS) method. International Journal for Quality Research, 12, 609–624.
Deng, X. M., & Gao, H. (2019). TODIM method for multiple attribute decision making with 2-tuple linguistic Pythagorean fuzzy information. Journal of Intelligent & Fuzzy Systems, 37(2), 1769–1780. https://doi.org/10.3233/JIFS-179240
Deng, X. M., Wang, J., Wei, G. W., & Lu, M. (2018a). Models for multiple attribute decision making with some 2-tuple linguistic Pythagorean fuzzy hamy mean operators. Mathematics, 6(11), 236. https://doi.org/10.3390/math6110236
Deng, X. M., Wei, G. W., Gao, H., & Wang, J. (2018b). Models for safety assessment of construction project with some 2-tuple linguistic Pythagorean fuzzy Bonferroni mean operators. IEEE Access, 6, 52105–52137. https://doi.org/10.1109/ACCESS.2018.2869414
Erdogan, S. A., Saparauskas, J., & Turskis, Z. (2019). A multi-criteria decision-making model to choose the best option for sustainable construction management. Sustainability, 11(8), 2239. https://doi.org/10.3390/su11082239
Garg, H. (2016). A new generalized Pythagorean fuzzy information aggregation using Einstein Operations and its application to decision making. International Journal of Intelligent Systems, 31(9), 886–920. https://doi.org/10.1002/int.21809
Garg, H. (2017a). Confidence levels based Pythagorean fuzzy aggregation operators and its application to decision-making process. Computational and Mathematical Organization Theory, 23(4), 546–571. https://doi.org/10.1007/s10588-017-9242-8
Garg, H. (2017b). A new improved score function of an interval-valued Pythagorean fuzzy set based topsis method. International Journal for Uncertainty Quantification, 7(5), 463–474. https://doi.org/10.1615/Int.J.UncertaintyQuantification.2017020197
Ghorabaee, M. K., Amiri, M., Zavadskas, E. K., Hooshmand, R., & Antuchevičienė, J. (2018). Fuzzy extension of the CODAS method for multi-criteria market segment evaluation. Journal of Business Economics & Management, 18(1), 1–19. https://doi.org/10.3846/16111699.2016.1278559
Herrera, F., & Martinez, L. (2001a). The 2-tuple linguistic computational model. Advantages of its linguistic description, accuracy and consistency. International Journal of Uncertainty Fuzziness and Knowledge-Based Systems, 9(supp. 01), 33–48. https://doi.org/10.1142/S0218488501000971
Herrera, F., & Martinez, L. (2001b). A model based on linguistic 2-tuples for dealing with multigranular hierarchical linguistic contexts in multi-expert decision-making. Ieee Transactions on Systems Man and Cybernetics Part B-Cybernetics, 31(2), 227–234. https://doi.org/10.1109/3477.915345
Keshavarz Ghorabaee, M., Zavadskas, E. K., Turskis, Z., & Antucheviciene, J. (2016). A new combinative distance-based assessment (Codas) method for multi-criteria decision-making. Economic Computation & Economic Cybernetics Studies & Research, 50(3), 25–44.
Khan, M. S. A., Abdullah, S., Ali, A., Amin, F., & Hussain, F. (2019). Pythagorean hesitant fuzzy Choquet integral aggregation operators and their application to multi-attribute decision-making. Soft Computing, 23, 251–267. https://doi.org/10.1007/s00500-018-3592-0
Li, Z. X., & Lu, M. (2019). Some novel similarity and distance and measures of Pythagorean fuzzy sets and their applications. Journal of Intelligent & Fuzzy Systems, 37(2), 1781–1799. https://doi.org/10.3233/JIFS-179241
Li, Z. X., Wei, G. W., & Lu, M. (2018). Pythagorean fuzzy Hamy mean operators in multiple attribute group decision making and their application to supplier selection. Symmetry, 10(10), 505. https://doi.org/10.3390/sym10100505
Lu, J. P., Tang, X. Y., Wei, G. W., C. Wei, C., & Wei, Y. (2019). Bidirectional project method for dual hesitant Pythagorean fuzzy multiple attribute decision-making and their application to performance assessment of new rural construction. International Journal of Intelligent Systems, 34(8), 1920–1934. https://doi.org/10.1002/int.22126
Pamucar, D., Badi, I., Sanja, K., & Obradovic, R. (2018). A novel approach for the selection of powergeneration technology using a linguistic neutrosophic CODAS method: A case study in Libya. Energies, 11(9), 2489. https://doi.org/10.3390/en11092489
Panchal, D., Chatterjee, P., Shukla, R. K., Choudhury, T., & Tamosaitiene, J. (2017). Integrated fuzzy AHP-Codas framework for maintenance decision in urea fertilizer industry. Economic Computation and Economic Cybernetics Studies and Research, 51(3), 179–196.
Peng, X. D., & Yang, Y. (2015). Some results for Pythagorean Fuzzy sets. International Journal of Intelligent Systems, 30(11), 1133–1160. https://doi.org/10.1002/int.21738
Reformat, M. Z., & Yager, R. R. (2014). Suggesting recommendations using Pythagorean Fuzzy sets illustrated using netflix movie data. In A. Laurent, O. Strauss, B. BouchonMeunier, & R. R. Yager (Eds.), Information processing and management of uncertainty in knowledge-based systems, Pt I (Vol. 442, pp. 546–556) Springer. https://doi.org/10.1007/978-3-319-08795-5_56
Ren, P. J., Xu, Z. S., & Gou, X. J. (2016). Pythagorean fuzzy TODIM approach to multi-criteria decision making. Applied Soft Computing, 42, 246–259. https://doi.org/10.1016/j.asoc.2015.12.020
Roy, J., Sharma, H. K., Kar, S., Zavadskas, E. K., & Saparauskas, J. (2019). An extended COPRAS model for multi-criteria decision-making problems and its application in web-based hotel evaluation and selection. Economic Research-Ekonomska Istrazivanja, 32(1), 219–253. https://doi.org/10.1080/1331677X.2018.1543054
Tabatabaei, M. H., Amiri, M., Firouzabadi, S., Ghahremanloo, M., Keshavarz-Ghorabaee, M., & Saparauskas, J. (2019). A new group decision-making model based on bwm and its application to managerial problems. Transformations in Business & Economics, 18, 197–214.
Wang, J., Gao, H., & Lu, M. (2019a). Approaches to strategic supplier selection under interval neutrosophic environment. Journal of Intelligent & Fuzzy Systems, 37(2), 1707–1730. https://doi.org/10.3233/JIFS-179235
Wang, J., Gao, H., & Wei, G. W. (2019b). The generalized Dice similarity measures for Pythagorean fuzzy multiple attribute group decision making. International Journal of Intelligent Systems, 34(6), 1158–1183. https://doi.org/10.1002/int.22090
Wang, R. (2019). Research on the application of the financial investment risk appraisal models with some interval number muirhead mean operators. Journal of Intelligent & Fuzzy Systems, 37(2), 1741–1752. https://doi.org/10.3233/JIFS-179237
Wei, G. W. (2019a). 2-tuple intuitionistic fuzzy linguistic aggregation operators in multiple attribute decision making. Iranian Journal of Fuzzy Systems, 16(4), 159–174.
Wei, G. W. (2019b). The generalized dice similarity measures for multiple attribute decision making with hesitant fuzzy linguistic information. Economic Research-Ekonomska Istrazivanja, 32(1), 1498–1520. https://doi.org/10.1080/1331677X.2019.1637765
Wei, G. W. (2019c). Pythagorean fuzzy hamacher power aggregation operators in multiple attribute decision making. Fundamenta Informaticae, 166(1), 57–85. https://doi.org/10.3233/FI-2019-1794
Wei, G. W., Wang, J., Wei, C., Wei, Y., & Zhang, Y. (2019a). Dual hesitant Pythagorean fuzzy hamy mean operators in multiple attribute decision making. IEEE Access, 7, 86697–86716. https://doi.org/10.1109/ACCESS.2019.2924974
Wei, G. W., Wang, R., Wang, J., Wei, C., & Zhang, Y. (2019b). Methods for evaluating the technological innovation capability for the high-tech enterprises with generalized interval neutrosophic number Bonferroni mean operators. IEEE Access, 7, 86473–86492. https://doi.org/10.1109/ACCESS.2019.2925702
Wu, L. P., Gao, H., & Wei, C. (2019a). VIKOR method for financing risk assessment of rural tourism projects under interval-valued intuitionistic fuzzy environment. Journal of Intelligent & Fuzzy Systems, 37(2), 2001–2008. https://doi.org/10.3233/JIFS-179262
Wu, L. P., Wang, J., & Gao, H. (2019b). Models for competiveness evaluation of tourist destination with some interval-valued intuitionistic fuzzy Hamy mean operators. Journal of Intelligent and Fuzzy Systems, 36(6), 5693–5709. https://doi.org/10.3233/JIFS-181545
Wu, L. P., Wei, G. W., Gao, H., & Wei, Y. (2018). Some interval-valued intuitionistic fuzzy Dombi Hamy mean operators and their application for evaluating the elderly tourism service quality in tourism destination. Mathematics, 6(12), 294. https://doi.org/10.3390/math6120294
Zadeh, L. A. (1965). Fuzzy Sets. Information and Control, 8(3), 338–356. https://doi.org/10.1016/S0019-9958(65)90241-X
Zeb, A., Khan, M. S. A., & Ibrar, M. (2019). Approaches to multi-attribute decision making with risk preference under extended Pythagorean fuzzy environment. Journal of Intelligent & Fuzzy Systems, 36(1), 325–335. https://doi.org/10.3233/JIFS-181385
Zeng, S. Z., Chen, J. P., & Li, X. S. (2016). A hybrid method for Pythagorean fuzzy multiple-criteria decision making. International Journal of Information Technology & Decision Making, 15(2), 403–422. https://doi.org/10.1142/S0219622016500012
Zhang, C., Li, D. Y., & Ren, R. (2016). Pythagorean fuzzy multigranulation rough set over two universes and its applications in Merger and acquisition. International Journal of Intelligent Systems, 31(9), 921–943. https://doi.org/10.1002/int.21811
Zhang, Q. S., & Jiang, S. Y. (2010). Relationships between entropy and similarity measure of intervalvalued intuitionistic fuzzy sets. International Journal of Intelligent Systems, 25(11), 1121–1140. https://doi.org/10.1002/int.20442
Zhang, R. T., Wang, J., Zhu, X. M., Xia, M. M., & Yu, M. (2017). Some generalized Pythagorean fuzzy Bonferroni mean aggregation operators with their application to multiattribute group decisionmaking. Complexity, 2017, 5937376. https://doi.org/10.1155/2017/5937376
Zhang, X. L. (2016). Multicriteria Pythagorean fuzzy decision analysis: A hierarchical QUALIFLEX approach with the closeness index-based ranking methods. Information Sciences, 330, 104–124. https://doi.org/10.1016/j.ins.2015.10.012
Zhu, L., Liang, X. F., Wang, L., & Wu, X. R. (2018). Generalized pythagorean fuzzy point operators and their application in multi-attributes decision making. Journal of Intelligent & Fuzzy Systems, 35(2), 1407–1418. https://doi.org/10.3233/JIFS-169683