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

2017 ◽  
Vol 52 ◽  
pp. 1084-1097 ◽  
Author(s):  
Adel Hatami-Marbini ◽  
Fatemeh Kangi
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Stock Exchange ◽  
Fuzzy Topsis

Schemes Selection of Yarn Tension Detection and Control Based on Fuzzy Multiple Attribute Group Decision Making

2013 ◽  
Vol 694-697 ◽  
pp. 2829-2834
Author(s):  
Yan Li ◽  
Hui Min Li ◽  
Yi Li
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Fuzzy Topsis ◽  
Yarn Tension ◽  
Attribute Weights ◽  
Multiple Attribute ◽  
The Individual ◽  
Topsis Technique ◽  
And Control

To evaluate the yarn tension detection and control schemes in rapier looms, a fuzzy multiple-attribute group decision making problem is proposed for the schemes selection. Firstly, important degrees of every attributes from each expert are considered. The individual opinions of each expert are integrated with the similarity of the decision group. And the synthesized weights of each expert are calculated. Secondly, with the aggregation of experts opinions, the group attribute-weights matrixes are obtained. Then the fuzzy TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) is used to sequence the alternatives, and the optimal scheme is decided for yarn tension detection and control system, the decision results illustrate the feasibility and effectiveness of the developed method.

scholarly journals Group decision-making approach for flood vulnerability identification using the fuzzy VIKOR method

2015 ◽  
Vol 15 (4) ◽  
pp. 863-874 ◽  
Author(s):  
G. Lee ◽  
K. S. Jun ◽  
E.-S. Chung
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Fuzzy Topsis ◽  
Decision Makers ◽  
Consensus Building ◽  
Vikor Method ◽  
Flood Vulnerability ◽  
Fuzzy Vikor ◽  
Risk Vulnerability

Abstract. This study proposes an improved group decision making (GDM) framework that combines the VIKOR method with data fuzzification to quantify the spatial flood vulnerability including multiple criteria. In general, GDM method is an effective tool for formulating a compromise solution that involves various decision makers since various stakeholders may have different perspectives on their flood risk/vulnerability management responses. The GDM approach is designed to achieve consensus building that reflects the viewpoints of each participant. The fuzzy VIKOR method was developed to solve multi-criteria decision making (MCDM) problems with conflicting and noncommensurable criteria. This comprising method can be used to obtain a nearly ideal solution according to all established criteria. This approach effectively can propose some compromising decisions by combining the GDM method and fuzzy VIKOR method. The spatial flood vulnerability of the southern Han River using the GDM approach combined with the fuzzy VIKOR method was compared with the spatial flood vulnerability using general MCDM methods, such as the fuzzy TOPSIS and classical GDM methods (i.e., Borda, Condorcet, and Copeland). As a result, the proposed fuzzy GDM approach can reduce the uncertainty in the data confidence and weight derivation techniques. Thus, the combination of the GDM approach with the fuzzy VIKOR method can provide robust prioritization because it actively reflects the opinions of various groups and considers uncertainty in the input data.

scholarly journals Refractured Well Selection for Multicriteria Group Decision Making by Integrating Fuzzy AHP with Fuzzy TOPSIS Based on Interval-Typed Fuzzy Numbers

2012 ◽  
Vol 2012 ◽  
pp. 1-21 ◽  
Author(s):  
Tiejun Li ◽  
Jianhua Jin ◽  
Chunquan Li
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Fuzzy Numbers ◽  
Group Decision ◽  
Fuzzy Ahp ◽  
Fuzzy Topsis ◽  
Selection Problem ◽  
Triangular Fuzzy Numbers ◽  
Analytic Hierarchy ◽  
Multicriteria Group Decision Making

Multicriteria group decision making (MCGDM) research has rapidly been developed and become a hot topic for solving complex decision problems. Because of incomplete or non-obtainable information, the refractured well-selection problem often exists in complex and vague conditions that the relative importance of the criteria and the impacts of the alternatives on these criteria are difficult to determine precisely. This paper presents a new model for MCGDM by integrating fuzzy analytic hierarchy process (AHP) with fuzzy TOPSIS based on interval-typed fuzzy numbers, to help group decision makers for well-selection during refracturing treatment. The fuzzy AHP is used to analyze the structure of the selection problem and to determine weights of the criteria with triangular fuzzy numbers, and fuzzy TOPSIS with interval-typed triangular fuzzy numbers is proposed to determine final ranking for all the alternatives. Furthermore, the algorithm allows finding the best alternatives. The feasibility of the proposed methodology is also demonstrated by the application of refractured well-selection problem and the method will provide a more effective decision-making tool for MCGDM problems.

A Fuzzy TOPSIS+Worst-Case Model for Personnel Evaluation Using Information Culture Criteria

2016 ◽  
Vol 7 (4) ◽  
pp. 38-66 ◽  
Author(s):  
Rasim M. Alguliyev ◽  
Ramiz M. Aliguliyev ◽  
Rasmiyya S. Mahmudova
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Fuzzy Topsis ◽  
Decision Makers ◽  
Personnel Evaluation ◽  
Information Culture ◽  
Worst Case ◽  
Entropy Methods ◽  
Fuzzy Mcdm

Personnel evaluation process is aimed at choosing the best alternative to fill the defined vacancy in an organization. It determines the input quality of personnel and thus plays an important role in human resource management. The multi criteria nature and the presence of qualitative factors make it considerably more complex. This paper proposes a hybrid fuzzy MCDM model for personnel evaluation. It combines the fuzzy TOPSIS method with fuzzy worst-case (or entropy) method for linguistic reasoning under group decision making. Fuzzy worst-case and entropy methods are used to get weights of criteria, while fuzzy TOPSIS is utilized to rank the alternatives. The weights obtained from fuzzy worst-case and entropy methods are included in fuzzy TOPSIS computations and the alternatives are evaluated. The fuzzy MCDM for group decision making enables to aggregate subjective assessments of the decision-makers and thus offer an opportunity to perform more robust personnel evaluation procedures. To evaluate the alternatives the authors have formed an executive group consisting of five decision-makers. For evaluation the group has decided to consider five information culture criteria expressed in linguistic variables. A numerical example demonstrated the possibilities of application of the proposed method.

scholarly journals AN INTEGRATED FUZZY MULTI CRITERIA GROUP DECISION MAKING MODEL FOR HANDLING EQUIPMENT SELECTION

2014 ◽  
Vol 20 (5) ◽  
pp. 660-673 ◽  
Author(s):  
Abdolreza Yazdani-Chamzini
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Fuzzy Ahp ◽  
Evaluation Model ◽  
Evaluation Criteria ◽  
Fuzzy Topsis ◽  
Equipment Selection ◽  
Order Preference ◽  
Criteria Weights

The problem of handling equipment selection plays a significant role in the total cost of a mining project; so that it can affect the activity and continuity of the project and is a strategic problem. In this study, an integrated model based on two fuzzy multi-criteria decision making techniques for handling equipment selection is proposed. The proposed evaluation model is derived from group decision making, fuzzy set theory, analytical hierarchy process (AHP), and Technique to Order Preference by Similarity to Ideal Solution (TOPSIS) methods. The fuzzy AHP (FAHP) method is utilized to calculate the relative importance of the evaluation criteria, then, fuzzy TOPSIS (FTOPSIS) is applied for evaluating the feasible handling equipment in order to select the best handling system among a pool of the possible alternatives. The model is applied for a real world case study to demonstrate the capability and effectiveness of the proposed model. To investigate the result sensitiveness to the changes of the criteria weights, a sensitivity analysis is finally conducted.

scholarly journals An Assessment of Objectivity Convergence of Fuzzy TOPSIS Method Extended With Rank Order Weights in Group Decision Making

2018 ◽  
Vol 7 (3) ◽  
pp. 26-33
Author(s):  
Ayan Chattopadhyay ◽  
Upasana Bose
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Rank Order ◽  
Fuzzy Topsis ◽  
Decision Makers ◽  
Topsis Method ◽  
Chain Management ◽  
Criteria Weights ◽  
Topsis Approach

Group decision making in a multi criteria environment is a familiar business situation where the decision makers identify an ideal choice, among many. The situation gets complex when decision makers do not have crisp data to deal with. The fuzzy TOPSIS method, and its likes, provides solution to such problems and the criteria weight plays a determinant role in the overall priority estimation. This paper presents an extended fuzzy TOPSIS approach by incorporating criteria weights derived from rank order. It considers three criteria weights; the rank order centroid, rank sum and rank reciprocal weights. The criteria weights are calculated separately and integrated with fuzzy TOPSIS method to rank choices. Finally, objectivity convergence of the alternative rankings is tested. The proposed method yields a fairly uniform and consistent result in the case of supply chain management and anticipates wide application in multi criteria environment, concomitant with uncertainty and vagueness.

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