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The Uncertain Generalized Owa Operator And Its Application To Financial Decision Making

Author

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  • JOSÉ M. MERIGÓ

    (Department of Business Administration, University of Barcelona, Av. Diagonal 690, Barcelona 08034, Spain)

  • MONTSERRAT CASANOVAS

    (Department of Business Administration, University of Barcelona, Av. Diagonal 690, Barcelona 08034, Spain)

Abstract

We introduce the uncertain generalized OWA (UGOWA) operator. This operator is an extension of the OWA operator that uses generalized means and uncertain information represented as interval numbers. By using UGOWA, it is possible to obtain a wide range of uncertain aggregation operators such as the uncertain average (UA), the uncertain weighted average (UWA), the uncertain OWA (UOWA) operator, the uncertain ordered weighted geometric (UOWG) operator, the uncertain ordered weighted quadratic averaging (UOWQA) operator, the uncertain generalized mean (UGM), and many specialized operators. We study some of its main properties, and we further generalize the UGOWA operator using quasi-arithmetic means. The result is the Quasi-UOWA operator. We end the paper by presenting an application to a decision-making problem regarding the selection of financial strategies.

Suggested Citation

  • José M. Merigó & Montserrat Casanovas, 2011. "The Uncertain Generalized Owa Operator And Its Application To Financial Decision Making," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 211-230.
    • Handle: RePEc:wsi:ijitdm:v:10:y:2011:i:02:n:s0219622011004300
    DOI: 10.1142/S0219622011004300
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    Cited by:

    1. Carlos Llopis-Albert & José M. Merigó & Huchang Liao & Yejun Xu & Juan Grima-Olmedo & Carlos Grima-Olmedo, 2018. "Water Policies and Conflict Resolution of Public Participation Decision-Making Processes Using Prioritized Ordered Weighted Averaging (OWA) Operators," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 32(2), pages 497-510, January.
    2. Ghada A. Altarawneh, 2018. "A fuzzy logic-based approach for pricing of electricity in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 365-372, October.
    3. Luis F. Espinoza-Audelo & Ernesto León-Castro & Marycruz Olazabal-Lugo & José M. Merigó & Anna M. Gil-Lafuente, 2020. "Using Ordered Weighted Average for Weighted Averages Inflation," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 19(02), pages 601-628, April.
    4. Deng-Feng Li & Shu-Ping Wan, 2017. "Minimum Weighted Minkowski Distance Power Models for Intuitionistic Fuzzy Madm with Incomplete Weight Information," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 16(05), pages 1387-1408, September.
    5. Pingtao Yi & Qiankun Dong & Weiwei Li, 2021. "A family of IOWA operators with reliability measurement under interval-valued group decision-making environment," Group Decision and Negotiation, Springer, vol. 30(3), pages 483-505, June.
    6. Ghada Altarawneh, 2021. "A fuzzy logic-based approach for progressive pricing of freshwater in Jordan," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 480-489, August.

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