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A New Method For Financial Decision Making Under Intuitionistic Linguistic Environment

Author

Listed:
  • Yao Xiao

    (School of Statistics, Beijing Normal University)

  • Chonghui Zhang

    (Zhejiang University of Finance & Economics)

Abstract

Intuitionistic linguistic set is an effective tool to deal with uncertainty. In this paper we develop a new method for financial decision making problems under intuitionistic linguistic environment and introduce the induced intuitionistic linguistic ordered weighted averaging distance (IILOWAD) operator. The main advantage of this operator is that it is able to consider complex attitudinal characters of the decision-maker by using order-inducing variables in the aggregation of the Hamming distance. Moreover, it is able to deal with uncertain environments where the information is very imprecise and can be assessed with intuitionistic linguistic numbers. We studied some of IILOWAD’s main properties and different particular cases. We also develop an application of the new approach in a financial decisionmaking problem concerning the selection of civil engineering public project.

Suggested Citation

  • Yao Xiao & Chonghui Zhang, 2016. "A New Method For Financial Decision Making Under Intuitionistic Linguistic Environment," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 50(3), pages 303-318.
    • Handle: RePEc:cys:ecocyb:v:50:y:2016:i:3:p:303-318
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    Citations

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    Cited by:

    1. Jun Liu & Xianbin Wu & Shouzhen Zeng & Tiejun Pan, 2017. "Intuitionistic Linguistic Multiple Attribute Decision-Making with Induced Aggregation Operator and Its Application to Low Carbon Supplier Selection," IJERPH, MDPI, vol. 14(12), pages 1-12, November.

    More about this item

    Keywords

    Distance measures; Induced aggregation operators; intuitionistic linguistic numbers; decision making;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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