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Variances and Logarithmic Aggregation Operators: Extended Tools for Decision-Making Processes. MATHEMATICS 2021. [DOI: 10.3390/math9161892] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.7] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/17/2022]
Abstract
Variance, as a measurement of dispersion, is a basic component of decision-making processes. Recent advances in intelligent systems have included the concept of variance in information fusion techniques for decision-making under uncertainty. These dispersion measures broaden the spectrum of decision makers by extending the toolset for the analysis and modeling of problems. This paper introduces some variance logarithmic averaging operators, including the variance generalized ordered weighted averaging (Var-GOWLA) operator and the induced variance generalized ordered weighted averaging (Var-IGOWLA) operator. Moreover, this paper analyzes some properties, families and particular cases of the proposed operators. Finally, an illustrative example of the characteristic design of the operators is proposed using real-world information retrieved from financial markets. The objective of this paper is to analyze the performance of some equities based on the expected payoff and the dispersion of its elements. Results show that the equity payoff results present diverse rankings combined with the proposed operators, and the introduced variance measures aid decision-making by offering new tools for information analysis. These results are particularly interesting when selecting logarithmic averaging operators for decision-making processes. The approach presented in this paper extends the available tools for decision-making under ignorance, uncertainty, and subjective environments.
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Li W, Yi P, Li L. Competitive behavior induced OWA operator and the weighting method. INT J INTELL SYST 2021. [DOI: 10.1002/int.22447] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.7] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/11/2022]
Affiliation(s)
- Weiwei Li
- School of Business Administration Northeastern University Shenyang China
| | - Pingtao Yi
- School of Business Administration Northeastern University Shenyang China
| | - Lingyu Li
- School of Economics & Management Nanchang University Nanchang China
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Abstract
The main aim is to propose a new method for estimating the Human Development Index using ordered weighted average. To develop this method, ordered weighted geometric average (OWGA), induced OWGA prioritized OWA (POWA) operator are studied. Using Human Development Index formulation in combination to aggregations operators presented above is proposed the prioritized induced ordered weighted geometric average (PIOWGA) operator. A mathematical application is carried out to estimate the Human Development Index and compare it with the traditional method and other existing methods. Finally, it is noted that decision makers have an influence on the order given in the ranking by its attitude and criterion, and method can capture the subjective information prioritized by them.
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Fonseca-Cifuentes G, León-Castro E, Blanco-Mesa F. Predicting the future price of a commodity using the OWMA operator: An approximation of the interest rate and inflation in the brown pastusa potato price. JOURNAL OF INTELLIGENT & FUZZY SYSTEMS 2021. [DOI: 10.3233/jifs-189200] [Citation(s) in RCA: 3] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/15/2022]
Abstract
This main aim of this paper is to propose a methodology for the prediction of the future price of the brown pastusa potato in Colombia, taking into consideration the variables of interest rate, as measured by fixed term deposits (FTDs), and inflation rate, as measured by the consumer price index (CPI). The methodology conducts linear regression analysis and assesses the results using the significance test, the Durbin-Watson statistic, analysis of the variance inflation factor (VIF) and the coefficient of determination. After that, the forecast of the independent variables has been conducted with the ordered weighted moving average (OWMA) operator and new proposed OWA operators using probabilities that are presented in the paper. Using these new methods and the proposed econometric model, it is possible to establish future prices. The results show a greater impact of the interest rate than inflation, as well as the need to include supply and demand variables that have not been included due to the absence of systematic information.
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Affiliation(s)
- Gina Fonseca-Cifuentes
- Facultad de Ciencias Económicas y Administrativas, Escuela de Administración de Empresas, Universidad Pedagógica y Tecnológica de Colombia, Av. Central del Norte, 39-115, Tunja, Colombia
| | - Ernesto León-Castro
- Facultad de Ciencias Económicas y Administrativas, Universidad Católica de la Santísima Concepción, Alonso de Ribera, Concepción, Chile
| | - Fabio Blanco-Mesa
- Facultad de Ciencias Económicas y Administrativas, Escuela de Administración de Empresas, Universidad Pedagógica y Tecnológica de Colombia, Av. Central del Norte, 39-115, Tunja, Colombia
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Alfaro-García VG, Merigó JM, Gil-Lafuente AM, Monge RG. Group-decision making with induced ordered weighted logarithmic aggregation operators. JOURNAL OF INTELLIGENT & FUZZY SYSTEMS 2021. [DOI: 10.3233/jifs-189183] [Citation(s) in RCA: 3] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/15/2022]
Abstract
This paper presents the induced generalized ordered weighted logarithmic aggregation (IGOWLA) operator, this operator is an extension of the generalized ordered weighted logarithmic aggregation (GOWLA) operator. It uses order-induced variables that modify the reordering process of the arguments included in the aggregation. The principal advantage of the introduced induced mechanism is the consideration of highly complex attitude from the decision makers. We study some families of the IGOWLA operator as measures for the characterization of the weighting vector. This paper presents the general formulation of the operator and some special cases, including the induced ordered weighted logarithmic geometric averaging (IOWLGA) operator and the induced ordered weighted logarithmic aggregation (IOWLA). Further generalizations using quasi-arithmetic mean are also proposed. Finally, an illustrative example of a group decision-making procedure using a multi-person analysis and the IGOWLA operator in the area of innovation management is analyzed.
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Affiliation(s)
- Víctor G. Alfaro-García
- Facultad de Contaduría y Ciencias Administrativas, Universidad Michoacana de San Nicolás de Hidalgo, Gral. Francisco J. Múgica S/N, 58030, Morelia, México
| | - José M. Merigó
- School of Information, Systems and Modelling, University of Technology Sydney, Ultimo, NSW 2007, Australia
- Departamento de Control de Gestión y Sistemas de Información, Universidad de Chile, Av. Diagonal Paraguay 257, 8330015, Santiago, Chile
| | - Anna M. Gil-Lafuente
- Facultat d’Economia i Empresa, Universitat de Barcelona Avinguda Diagonal, 08034, Barcelona, España
| | - Rodrigo Gómez Monge
- Facultad de Economía Vasco de Quiroga, Universidad Michoacana de San Nicolás de Hidalgo, Gral. Francisco J. Múgica S/N, 58030, Morelia, México
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Bonferroni Prioritized Aggregation Operators Applied to Government Transparency. MATHEMATICS 2020. [DOI: 10.3390/math9010024] [Citation(s) in RCA: 9] [Impact Index Per Article: 2.3] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/17/2022]
Abstract
This article applies the Bonferroni prioritized induced heavy ordered weighted average (OWA) to analyze a series of data and focuses on the Bonferroni average and heavy induced prioritized aggregation operators. The objective of the present work is to present a new aggregation operator that combines the heavy induced prioritized Bonferroni and its formulations and represents the Bonferroni mean with variables that induce an order with vectors that are greater than one. This work develops some extensions using prioritization. The main advantage is that different types of information provided by a group of decision makers to compare real situations are included in this formulation. Finally, an example using the operators to calculate the transparency of the websites of the 32 states of Mexico was performed. The main idea was to visualize how the ranking can change depending on the importance of the five components of the methodology. The main results show that it is possible to detect some important changes depending on the operator and the experts considered.
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Bonferroni Probabilistic Ordered Weighted Averaging Operators Applied to Agricultural Commodities’ Price Analysis. MATHEMATICS 2020. [DOI: 10.3390/math8081350] [Citation(s) in RCA: 8] [Impact Index Per Article: 2.0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 11/16/2022]
Abstract
Financial markets have been characterized in recent years by their uncertainty and volatility. The price of assets is always changing so that the decisions made by consumers, producers, and governments about different products is not still accurate. In this situation, it is necessary to generate models that allow the incorporation of the knowledge and expectations of the markets and thus include in the results obtained not only the historical information, but also the present and future information. The present article introduces a new extension of the ordered weighted averaging (OWA) operator called the Bonferroni probabilistic ordered weighted average (B-POWA) operator. This operator is designed to unify in a single formulation the interrelation of the values given in a data set by the Bonferroni means and a weighted and probabilistic vector that models the attitudinal character, expectations, and knowledge of the decision-maker of a problem. The paper also studies the main characteristics and some families of the B-POWA operator. An illustrative example is also proposed to analyze the mathematical process of the operator. Finally, an application to corn price estimation designed to calculate the error between the price of an agricultural commodity using the B-POWA operator and a leading global market company is presented. The results show that the proposed operator exhibits a better general performance than the traditional methods.
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Flores-Sosa M, Avilés-Ochoa E, Merigó JM. Induced OWA operators in linear regression. JOURNAL OF INTELLIGENT & FUZZY SYSTEMS 2020. [DOI: 10.3233/jifs-179642] [Citation(s) in RCA: 4] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/15/2022]
Affiliation(s)
| | | | - José M. Merigó
- School of Information, Systems and Modelling, Faculty of Engineering and Information Technology, University of Technology Sydney, Ultimo, NSW, Australia
- Department of Management Control and Information Systems, School of Economics and Business, University of Chile, Santiago, Chile
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León-Castro E, Espinoza-Audelo LF, Merigó JM, Gil-Lafuente AM, Yager RR. The ordered weighted average inflation. JOURNAL OF INTELLIGENT & FUZZY SYSTEMS 2020. [DOI: 10.3233/jifs-190442] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/15/2022]
Affiliation(s)
- Ernesto León-Castro
- Faculty of Economics and Administrative Sciences, Universidad Católica de la Santísima Concepción, Av. Alonso de Ribera 2850, Concepción, Chile
| | | | - José M. Merigó
- School of Systems, Management and Leadership, Faculty of Engineering and Information Technology, University of Technology Sydney, Ultimo, NSW, Australia
- Department of Management Control and Information Systems, School of Economics and Business, University of Chile, Av. Diagonal Paraguay, Santiago, Chile
| | - Anna M. Gil-Lafuente
- Department of Business Administration, University of Barcelona, Av. Diagonal, Barcelona, Spain
| | - Ronald R. Yager
- Machine Intelligence Institute, Iona College, New Rochelle, New York, USA
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Multi-person and multi-criteria decision making with the induced probabilistic ordered weighted average distance. Soft comput 2020. [DOI: 10.1007/s00500-019-03977-6] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/25/2022]
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Liu P, Gao H. Some intuitionistic fuzzy power Bonferroni mean operators in the framework of Dempster–Shafer theory and their application to multicriteria decision making. Appl Soft Comput 2019. [DOI: 10.1016/j.asoc.2019.105790] [Citation(s) in RCA: 18] [Impact Index Per Article: 3.6] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 10/25/2022]
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Li W, Yi P, Zhang D. Quantile‐induced vector‐based heavy OWA operator and the application in dynamic decision making. INT J INTELL SYST 2019. [DOI: 10.1002/int.22207] [Citation(s) in RCA: 3] [Impact Index Per Article: 0.6] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/10/2022]
Affiliation(s)
- Weiwei Li
- School of Business AdministrationNortheastern University China
| | - Pingtao Yi
- School of Business AdministrationNortheastern University China
| | - Danning Zhang
- School of EconomicsLiaoning UniversityShenyang China
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Blanco‐Mesa F, León‐Castro E, Merigó JM, Herrera‐Viedma E. Variances with Bonferroni means and ordered weighted averages. INT J INTELL SYST 2019. [DOI: 10.1002/int.22184] [Citation(s) in RCA: 9] [Impact Index Per Article: 1.8] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/11/2022]
Affiliation(s)
- Fabio Blanco‐Mesa
- Facultad de Ciencias Económicas y Administrativas, Escuela de Administración de EmpresasUniversidad Pedagógica y Tecnológica de Colombia Tunja Colombia
| | - Ernesto León‐Castro
- CENTRUM Graduate Business SchoolPontificia Universidad Catolica del Peru Lima Peru
| | - José M. Merigó
- Department of Management Control and Information SystemsSchool of Economics and Business, University of Chile Santiago Chile
- Faculty of Engineering and Information TechnologySchool of Information, Systems and Modelling, University of Technology Sydney Ultimo New South Wales Australia
| | - Enrique Herrera‐Viedma
- Andalusian Research Institute in Data Science and Computational Intelligence, University of Granada Granada Spain
- Peoples’ Friendship University of Russia (RUDN University) Moscow Russia
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Verma R, Merigó JM. Variance measures with ordered weighted aggregation operators. INT J INTELL SYST 2019. [DOI: 10.1002/int.22091] [Citation(s) in RCA: 4] [Impact Index Per Article: 0.8] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/11/2022]
Affiliation(s)
- Rajkumar Verma
- Department of Management Control and Information SystemsUniversity of ChileSantiago Chile
- Department of Applied Sciences, Delhi Technical CampusGuru Govind Singh Indraprastha University, DelhiGreater Noida Uttar Pradesh India
| | - José M. Merigó
- Department of Management Control and Information SystemsUniversity of ChileSantiago Chile
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