Interactive TOPSIS Based Group Decision Making Methodology Using Z-Numbers

DOI

10.1080/18756891.2016.1150003How to use a DOI?

Keywords

Type-1 fuzzy number; interval type-2 fuzzy number; z-number; multi-criteria decision making; TOPSIS; stock selection; reliability of information

Abstract

The ability in providing result that is consistent with actual ranking remains the major concern in group decision making environment. The main aim of this paper is to introduce a novel modification of TOPSIS method to facilitate multi criteria decision making problems based on the concept of Z-numbers called Z-TOPSIS. The proposed method is adequate and intuitive in giving meaningful structure for formalizing information of a decision making problem, as it takes into account the decision makers’ reliability. This study also provides bridge with some established knowledge in fuzzy sets to certain extend as to strengthen the concept of ranking alternatives using Z – numbers. To ensure practicality and effectiveness of proposed method, stock selection problem is studied. The ranking based on proposed method is validated comparatively using spearman rho rank correlation. Based on the analysis, the proposed method outperforms the established TOPSIS methods in term of ranking performance.

Copyright

© 2016. the authors. Co-published by Atlantis Press and Taylor & Francis

Open Access

This is an open access article under the CC BY-NC license (http://creativecommons.org/licences/by-nc/4.0/).

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TY  - JOUR
AU  - Abdul Malek Yaakob
AU  - Alexander Gegov
PY  - 2016
DA  - 2016/04/01
TI  - Interactive TOPSIS Based Group Decision Making Methodology Using Z-Numbers
JO  - International Journal of Computational Intelligence Systems
SP  - 311
EP  - 324
VL  - 9
IS  - 2
SN  - 1875-6883
UR  - https://doi.org/10.1080/18756891.2016.1150003
DO  - 10.1080/18756891.2016.1150003
ID  - Yaakob2016
ER  -