Multi Criteria Decision Making Method In Neutrosophic Environment Using A New Aggregation Operator Score And Certainty Function
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Multi Criteria Decision Making Method in Neutrosophic Environment Using a New Aggregation Operator, Score and Certainty Function
Neutrosophic sets, being generalization of classic sets, fuzzy sets and intuitionistic fuzzy sets, can simultaneously represent uncertain, imprecise, incomplete, and inconsistent information existing in the real world. Neutrosophic theory has been developed in twenty first century and not much of arithmetic has been developed for this set.
A Novel Neutrosophic Data Analytic Hierarchy Process for Multi-Criteria Decision Making Method: A Case Study in Kuala Lumpur Stock Exchange
This paper proposes a multi-criteria decision making method called the neutrosophic data analytical hierarchy process (NDAHP) for the single-valued neutrosophic set (SVNS). This method is an extension of the neutrosophic analytic hierarchy process (NAHP) but was designed to handle actual datasets which consists of crisp values. Our proposed NDAHP method uses an objective weighting mechanism whereas all other existing versions of the AHP, fuzzy AHP and other fuzzy based AHP method in literature such as the NAHP and picture fuzzy AHP uses a subjective weighting mechanism to arrive at the decision. This makes our proposed NDAHP method a very objective one as the weightage of the criteria which forms the input of the evaluation matrix are determined in an objective manner using actual data collected for the problem, and hence will not change according to the opinions of the different decision makers which are subjective. The proposed NDAHP method is applied to a multi-criteria decision making problem related to the ranking of the financial performance of five public listed petrochemical companies trading in the main board of the Kuala Lumpur Stock Exchange (KLSE). Actual dataset of 15 financial indices for the five petrochemical companies for 2017 obtained from Yahoo! Finance were used in this study. Following this, a brief comparative study is conducted to evaluate the performance of our NDAHP algorithm against the results of other existing SVNS based decision making methods in literature. The results are compared against actual results obtained from KLSE. To further verify the rankings obtained through each method, the Spearman and Pearson ranking tests are carried out on each of the decision making methods that are studied. It is proved that our proposed NDAHP method produces the most accurate results, and this was further verified from the results of the Spearman and Pearson ranking tests.
New Trends in Neutrosophic Theory and Applications
Author: Florentin Smarandache (editor)
language: en
Publisher: Infinite Study
Release Date: 2016-11-05
Neutrosophic theory and applications have been expanding in all directions at an astonishing rate especially after the introduction the journal entitled “Neutrosophic Sets and Systems”. New theories, techniques, algorithms have been rapidly developed. One of the most striking trends in the neutrosophic theory is the hybridization of neutrosophic set with other potential sets such as rough set, bipolar set, soft set, hesitant fuzzy set, etc. The different hybrid structure such as rough neutrosophic set, single valued neutrosophic rough set, bipolar neutrosophic set, single valued neutrosophic hesitant fuzzy set, etc. are proposed in the literature in a short period of time. Neutrosophic set has been a very important tool in all various areas of data mining, decision making, e-learning, engineering, medicine, social science, and some more. The book “New Trends in Neutrosophic Theories and Applications” focuses on theories, methods, algorithms for decision making and also applications involving neutrosophic information. Some topics deal with data mining, decision making, e-learning, graph theory, medical diagnosis, probability theory, topology, and some more. 30 papers by 39 authors and coauthors.