Modeling Imprecision And Subjectiveness For The Multiattribute Decisions
AbstractIn the paper it is shown how fuzzy set theory can be used for modeling imprecision and subjectiveness of the problems with a finite number of decision alternatives evaluated with respect to multiple criteria or attributes. The imprecision and subjectiveness appear especially when the decision maker has to assess the importance coefficients for the criteria and the performances for the alternatives. In the proposed procedure, the subjective appreciations of the decision maker are modeled using the linguistic values represented by fuzzy numbers. Finally, an application to the evaluation of some radioactive waste storage alternatives is presented. Although, in this paper, fuzzy models are used for representing the imprecision and subjectiveness of the decision problems, the fuzzy models can be seen as essential tools in generating new knowledge by experiments with these models. Through such knowledge, decision makers could better understand the impact of alternative decisions on economic performance, resource use and environmental quality.
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Bibliographic InfoArticle provided by International Association for Fuzzy-set Management and Economy (SIGEF) in its journal FUZZY ECONOMIC REVIEW.
Volume (Year): XI (2006)
Issue (Month): 1 (May)
multiattribute decisions; linguistic variables; fuzzy numbers;
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- G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
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