Abstract Numerous research papers and several engineering applications have proved that the fuzzy set theory is an intelligent effective tool to represent complex uncertain information. In multi-criteria decision-making (fuzzy MCDM) methods, information system control-theoretic models, qualitative are extracted from expert’s knowledge as linguistic variables modeled by linear/non-linear numbers...

By morphing mean–variance optimization (MVO) portfolio model into semi-absolute deviation (SAD) model, we apply multi criteria decision making (MCDM) via fuzzy mathematical programming to develop comprehensive models of asset portfolio optimization (APO) for the investors’ pursuing either of the aggressive or conservative strategies. 2007 Elsevier Inc. All rights reserved.

Those who conduct integrated assessments (IAs) are aware of the need to explicitly consider multiple criteria and uncertainties when evaluating policies for preventing global warming. MCDM methods are potentially useful for understanding tradeoffs and evaluating risks associated with climate policy alternatives. A difficulty facing potential MCDM users is the wide range of different techniques ...

— Several Multi-Criteria Decision Making (MCDM) methods involve pairwise comparisons to obtain the preferences of decision makers (DMs). This paper proposes a fuzzy group prioritization method for deriving group priorities/weights from fuzzy pairwise comparison matrices. The proposed method extends the Fuzzy Preferences Programming Method (FPP) by considering the different importance weights of...

Fuzzy set theory (FST) is a useful approach for modeling the uncertainties of real-life problems. In some cases, uncertainty level events may not be determined surely because environmental factors. This named “incomplete information” case and hesitation about represented with indeterminacy concept. There are various FST extensions in literature that consider modeling. These similar scenarios, p...

The fuzzy structured element (FSE) theory is a very useful toolfor dealing with fuzzy multi-criteria decision making (MCDM)problems by transforming the criterion value vectors of eachalternative into the corresponding criterion function vectors. Inthis paper, some concepts related to function vectors are firstdefined, such as the inner product of two function vectors, thecosine of the included ...

The accurate selection of a processing plant site can result in decreasing total mining cost. This problem can be solved by multi-criteria decision-making (MCDM) methods. This research introduces a new approach by integrating fuzzy AHP and gray MCDM methods to solve all decision-making problems. The approach is applied in the case of a copper mine area. The critical criteria are considered adja...