Risk and confidence analysis for fuzzy multicriteria decision making

Recent research has recognised that multicriteria decision making (MCDM) should take account of uncertainty, risk and confidence. This paper takes this research forward by using linguistic variables and triangular fuzzy numbers to model the decision maker's (DM) risk and confidence attitudes in order to define a more complete MCDM solution. To illustrate the computation process and demonstrate the feasibility of the results we use a travel problem that has been used previously to assess MCDM techniques. The results show that the method is useful for tackling imprecision and subjectivity in complex, ill-defined and human-oriented decision problems.

• Type: Journal
• Year: 2006
• Where: KBS
• Authors: Norman E. Fenton, Wei Wang
• Keywords: Complete Mcdm Solution, KBS 2006, MCDM, Triangular Fuzzy Numbers