Ranking Functions Induced by Weighted Average of Fuzzy Numbers

Author: Facchinetti G.

Source: Fuzzy Optimization and Decision Making, Volume 1, Number 3, August 2002 , pp. 313-327(15)

Publisher: Springer

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Abstract:

In this paper we present two definitions of possibilistic weighted average of fuzzy numbers, and by them we introduce two different rankings on the set of real fuzzy numbers. The two methods are dependent on several parameters. In the first case, the parameter is constant and the results generalize what Carlsson and Fuller have obtained in (2001). In the second case, the parameter is a function, not fixed a priori by the decision maker, but it depends on the position of the interval on the real axe. In all the two cases we call the parameter degree of risk, which takes into account of a risk-tendency or aversion of the decision maker.

Keywords: fuzzy numbers; average value; possibilistic weighted average; ranking methods

Language: English

Document Type: Research article

Affiliations: 1: Faculty of Economics, University of Modena and Reggio Emilia, Berengario Avenue 51, 41100 Modena, Italyfacchinetti@unimo.it

Publication date: 2002-08-01