Composite Fuzzy Measure and its Application to Decision-Making

2004 ◽  
Vol 8 (3) ◽  
pp. 252-259
Author(s):  
Toshihiro Kaino ◽  
◽  
Kaoru Hirota ◽  
Keyword(s):  
Decision Making ◽  
Capital Investment ◽  
Choquet Integral ◽  
Investment Decision ◽  
Measurable Space ◽  
Fuzzy Measure ◽  
Fuzzy Measures ◽  
Investment Decision Making ◽  
Decision Making Problem ◽  
Fuzzy Weights

In applications using fuzzy measures (on real numbers), it becomes a problem how to evaluate in-between intervals each characterized by a fuzzy measure, especially when the Choquet integral is differentiated in real world problems. A composite fuzzy measure built from fuzzy measures defined on fuzzy measurable spaces has been proposed by Kaino and Hirota using composite fuzzy weights, where the measurable space of this composite fuzzy measure is the direct sum of measurable spaces. An associative, composite fuzzy measure built from a finite number of fuzzy measures is proposed and, in a constructive application, it is applied to the automobile plant capital investment decision-making problem. It is assumed that an automobile company plans to sell a new car. The current plant line has a capacity of 3,200 new cars in addition to current car lines. Using this composite fuzzy measure, differentiation of the Choquet integral becomes a quantitative index for decision-making, which is confirmed by this decision-making experiment.

scholarly journals Multi-criteria decision making based on induced generalized interval neutrosophic Choquet integral

PLoS ONE ◽  
2020 ◽  
Vol 15 (12) ◽  
pp. e0242449
Author(s):  
Yangyang Jiao ◽  
Lu Wang ◽  
Jianxia Liu ◽  
Gang Ma
Keyword(s):  
Decision Making ◽  
Choquet Integral ◽  
Investment Decision ◽  
Aggregation Operators ◽  
Optimal Decision ◽  
Multi Criteria Decision Making ◽  
Investment Decision Making ◽  
Decision Making Problem ◽  
Geometric Operator ◽  
Integral Average

In this paper, two new aggregation operators based on Choquet integral, namely the induced generalized interval neutrosophic Choquet integral average operator(IGINCIA) and the induced generalized interval neutrosophic Choquet integral geometric operator(IG-INCIG), are proposed for multi-criteria decision making problems (MCDM). Firstly, the criteria are dependent to each other and the evaluation information of the criteria are expressed by interval neutrosophic numbers. Moreover, two indices which are inspired by the geometrical structure are established to compare the interval neutrosophic numbers. Then, a MCDM method is proposed based on the proposed aggregation operators and ranking indices to cope with MCDM with interactive criteria. Lastly, an investment decision making problem is provided to illustrate the practicality and effectiveness of the proposed approach. The validity and advantages of the proposed method are analyzed by comparing with some existing approaches. By a numerical example in company investment to expand business though five alternatives with considering four criteria, the optimal decision is made.

Financial Appraisal and the IS/IT Investment Decision Making Process

1998 ◽  
Vol 13 (1) ◽  
pp. 3-14 ◽  
Author(s):  
Joan Ballantine ◽  
Stephanie Stray
Keyword(s):  
Decision Making ◽  
Information Technology ◽  
Capital Investment ◽  
Investment Decision ◽  
Decision Making Process ◽  
It Investment ◽  
It Investments ◽  
Investment Appraisal ◽  
Investment Decision Making ◽  
Financial Appraisal

This paper explores the techniques used by organizations to appraise Information Systems (IS)/Information Technology (IT) investments, and concentrates, in particular, on techniques of capital investment appraisal. We draw on relevant studies reported in both the accounting and finance, and the IS literature, which have addressed their usage. Where possible comparisons are drawn between both sets of literatures. The results of a survey that specifically examined IS/IT investment appraisal practices of a sample of UK companies is also presented. Among the issues discussed include the extent to which capital investment appraisal techniques are used to appraisal investments, the importance of the techniques used and the problems attendant on the decision making process.

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