We analyse the use of the ordered weighted average (OWA) in decision-making giving special attention to business and economic decision-making problems. We present several aggregation techniques that are very useful for decision-making such as the Hamming distance, the adequacy coefficient and the index of maximum and minimum level. We suggest a new approach by using immediate weights, that is, ...

We study different types of aggregation operators and the decision making process with minimization of regret. We analyze the original work developed by Savage and the recent work developed by Yager that generalizes the MMR method creating a parameterized family of minimal regret methods by using the ordered weighted averaging (OWA) operator. We suggest a new method that uses different types of...

the present study is an attempt toward evaluating the performance of portfolios and asset selectionusing cross-efficiency evaluation. cross-efficiency evaluation is an effective way of ranking decisionmaking units (dmus) in data envelopment analysis (dea). conventional dea models assume nonnegativevalues for inputs and outputs. however, we know that unlike return and skewness, varianceis the on...

In this paper a class of single machine scheduling problems is discussed. It is assumed that job parameters, such as processing times, due dates, or weights are uncertain and their values are specified in the form of a discrete scenario set. The Ordered Weighted Averaging (OWA) aggregation operator is used to choose an optimal schedule. The OWA operator generalizes traditional criteria in decis...

In this paper a class of bottleneck combinatorial optimization problems with uncertain costs is discussed. The uncertainty is modeled by specifying a discrete scenario set containing a finite number of cost vectors, called scenarios. In order to choose a solution the Ordered Weighted Averaging aggregation operator (shortly OWA) is applied. The OWA operator generalizes traditional criteria in de...

Abstract An IFS is suitable way to deal with uncertainty, but operators on it are complex in computation even though they work well. This study presents a C-OWA operator-based method to make aggregation over intuitionistic fuzzy information more easy and convenient, and then applies it to complicated decision making under uncertainty. IFNs or IIFNs are transformed into intervals which are easy ...

The Minkowski distance is a distance measure that generalizes a wide range of other distances such as the Hamming and the Euclidean distance. In this paper, we develop a generalization of the Minkowski distance by using the induced ordered weighted averaging (IOWA) operator. We will call it the induced Minkowski OWA distance (IMOWAD). Then, we are able to obtain a wider range of distance measur...

We propose a least absolute deviation model for obtaining OWA operator weights: Minimize ∑i=n−1 i=1 |wi − wi−1| subject to orness(W ) = ∑n i=1 n−i n−1wi = α, 0 ≤ α ≤ 1, w1 + · · ·+ wn = 1, 0 ≤ wi, i = 1, · · · , n. Recently, the extended minimax disparity problem was proved by Hong [Fuzzy Sets and Systems, 168 (2011) 35-46]. In this paper, we investigated the equivalence of the solutions for th...