Intuitionistic Fuzzy TOPSIS as a Method for Assessing Socioeconomic Phenomena on the Basis of Survey Data

The Impact of the Intuitionistic Fuzzy Entropy-Based Weights on the Results of Subjective Quality of Life Measurement Using Intuitionistic Fuzzy Synthetic Measure

In this paper, an extended Intuitionistic Fuzzy Synthetic Measure (IFSM) with intuitionistic fuzzy (IF) entropy-based weights is presented. This method can be implemented in a ranking problem where the assessments of the criteria are expressed in the form of intuitionistic fuzzy values and the information about the importance criteria is unknown. One example of such a problem is measuring the subjective quality of life in cities. We join the debate on the determination of weights for the analysis of the quality of life problem using multi-criteria methods. To handle this problem, four different IF entropy-based weight methods were applied. Their performances were compared and analyzed based on the questionnaires from the survey concerning the quality of life in European cities. The studies show very similar weighting systems obtained by different IF entropy-based approaches, resulting in almost the same city rankings acquired through IFSM by using those weights. The differences in rankings obtained through the IFSM measure (and only by one position) concern the six cities included in the analysis. Our results support the assumption of the equal importance of the criteria in measuring this complex phenomenon.

Financial Network Analysis on the Performance of Companies Using Integrated Entropy–DEMATEL–TOPSIS Model

In this paper, we propose a multi-criteria decision making (MCDM) model by integrating the entropy–DEMATEL with TOPSIS model to analyze the causal relationship of financial ratios towards the financial performance of the companies. The proposed model is illustrated using the financial data of the companies of Dow Jones Industrial Average (DJIA). The financial network analysis using entropy–DEMATEL shows that the financial ratios such as debt to equity ratio (DER) and return on equity (ROE) are classified into the cause criteria group, whereas current ratio (CR), earnings per share (EPS), return on asset (ROA) and debt to assets ratio (DAR) are categorized into the effect criteria group. The top three most influential financial ratios are ROE, CR and DER. The significance of this paper is to determine the causal relationship of financial network towards the financial performance of the companies with the proposed entropy–DEMATEL–TOPSIS model. The ranking identification of the companies in this study is beneficial to the investors to select the companies with good performance in portfolio investment. The proposed model has been applied and validated in the portfolio investment using a mean-variance model based on the selection of companies with good performance. The results show that the proposed model is able to generate higher mean return than the benchmark DJIA index at minimum risk. However, short sale is not allowed for the applicability of the proposed model in portfolio investment.

Integrated AHP-TOPSIS under a Fuzzy Environment for the Selection of Waste-To-Energy Technologies in Ghana: A Performance Analysis and Socio-Enviro-Economic Feasibility Study

Energy recovery from waste presents a promising alternative for several countries, including Ghana, which has struggled with unsustainable waste treatment methods and an inadequate power supply for several decades. The current study adopts a comprehensive multi-criteria decision-making approach for the selection of an optimal waste-to-energy (WtE) technology for implementation in Ghana. Four WtE technologies are evaluated against twelve selection criteria. An integrated AHP-fuzzy TOPSIS method is applied to estimate the criteria’s weights and rank the WtE alternatives. From the AHP results, technical criteria obtained the highest priority weight, while social criteria emerged as the least important in the selection process. The overall ranking order of WtE technologies obtained by fuzzy TOPSIS is as follows: anaerobic digestion > gasification > pyrolysis > plasma gasification. The sensitivity analysis indicates highly consistent and sturdy results regarding the optimal selection. This study recommends adopting a hybrid system of anaerobic digestion and gasification technologies, as this offers a well-balanced system under all of the evaluation criteria compared to the standalone systems. The results of the current study may help the government of Ghana and other prospective investors select a suitable WtE technology, and could serve as an index system for future WtE research in Ghana.

An Intuitionistic Extension of the Simple WISP Method

In this article, we present a new extension of the Integrated Simple Weighted Sum-Product (WISP) method, adapted for intuitionistic numbers. The extension takes advantage of intuitionistic fuzzy sets for solving complex decision-making problems. The example of contractor selection demonstrates the use of the proposed extension.

Selection of Agricultural Machinery Based on Improved CRITIC-Entropy Weight and GRA-TOPSIS Method

In view of the problems existing in the process of agricultural machinery selection, such as inadequate decision-making information, strong subjectivity and quantification difficulty of the index weight assignment, and accuracy deficiency of the selection results, a model on the selection of agricultural machinery based on the improved CRITIC-entropy weight and GRA-TOPSIS method was established in this study. Through analysis, based on the construction of a comprehensive evaluation index system for the selection of agricultural machinery, the combined weight value was determined by combining the weights obtained using the improved CRITIC method and the weights obtained using the entropy weight method. The grey relational analysis method was also combined with the TOPSIS method. The power machinery combination with 88.2 and 73.5 kW of the 68th Regiment of the Fourth Division of Xinjiang Production and Construction Corps was used as an example for verification to determine the optimal power machinery combination. Results indicated that the ranking results were consistent, and the GRA-TOPSIS method was of the greatest degree of discrimination, which was conducive to the selection and evaluation of agricultural machinery equipment. Moreover, the equipment selection results were determined after the comprehensive ranking of machinery types under the different subjective preferences of decision makers was performed.

Intuitionistic Fuzzy Synthetic Measure on the Basis of Survey Responses and Aggregated Ordinal Data

The paper addresses the problem of complex socio-economic phenomena assessment using questionnaire surveys. The data are represented on an ordinal scale; the object assessments may contain positive, negative, no answers, a “difficult to say” or “no opinion” answers. The general framework for Intuitionistic Fuzzy Synthetic Measure (IFSM) based on distances to the pattern object (ideal solution) is used to analyze the survey data. First, Euclidean and Hamming distances are applied in the procedure. Second, two pattern object constructions are proposed in the procedure: one based on maximum values from the survey data, and the second on maximum intuitionistic values. Third, the method for criteria comparison with the Intuitionistic Fuzzy Synthetic Measure is presented. Finally, a case study solving the problem of rank-ordering of the cities in terms of satisfaction from local public administration obtained using different variants of the proposed method is discussed. Additionally, the comparative analysis results using the Intuitionistic Fuzzy Synthetic Measure and the Intuitionistic Fuzzy TOPSIS (IFT) framework are presented.

Multiple-Criteria Decision Analysis Using TOPSIS and WSA Method for Quality of Life: The Case of Slovakia Regions

Quality of life can be expressed as a highly subjective measure of happiness, which is an important part of many financial and non-financial decisions. The issue of quality of life, namely its quantification, is a current topic, evidenced by a number of literary sources in both foreign and domestic literature. The paper deals with this issue in the conditions of the Slovak Republic and studies the quality of life for each region of Slovakia with respect to the given indicators. In this paper, we deal with the use of the methods of multi-criteria analysis in evaluating the quality of life in Slovakia. The aim of this paper is to highlight that it is important to monitor the level of quality of life at the regional level and that one of the indicators influencing the quality of life in the region may be its location in relation to neighboring countries.

Soft Computing for Decision-Making in Fuzzy Environments: A Tribute to Professor Ioan Dzitac

This paper is dedicated to Professor Ioan Dzitac (1953–2021). Therefore, his life has been briefly presented as well as a comprehensive overview of his major contributions in the domain of soft computing methods in a fuzzy environment. This paper is part of a special reverential volume, dedicated to the Centenary of the Birth of Lotfi A. Zadeh, whom Ioan Dzitac considered to be is his mentor, and to whom he showed his gratitude many times and in innumerable ways, including by being the Guest Editor of this Special Issue. Professor Ioan Dzitac had many important achievements throughout his career: he was co-founder and Editor-in-Chief of an ISI Expanded quoted journal, International Journal of Computers Communications & Control; together with L.A. Zadeh, D. Tufis and F.G. Filip he edited the volume “From Natural Language to Soft Computing: New Paradigms in Artificial Intelligence”; his scientific interest focused on different sub-fields: fuzzy logic applications, soft computing in a fuzzy environment, artificial intelligence, learning platform, distributed systems in internet. He had the most important contributions in soft computing in a fuzzy environment. Some of them will be presented in this paper. Finally, some future trends are discussed.