Pythagorean fuzzy combinative distance-based assessment with pure linguistic information and its application to financial strategies of multi-national companies

Abstract

This article addresses the issue of selecting Financial Strategies in MultiNational companies (F.S.M.). The F.S.M. typically has to consider multiple factors involving multiple stakeholders and, hence, can be handled by applying an appropriate Multi-Criteria Group Decision-Making (M.C.G.D.M.) approach. To address this issue, we develop an M.C.G.D.M. framework to tackle the F.S.M. problem. To handle inherent uncertainty in business decisions as reflected by linguistic reasoning, we embark on constructing a Linguistic Pythagorean Fuzzy (L.P.F.) M.C.G.D.M. framework that is capable of tackling both uncertain decision information and linguistic variables. The proposed approach extends the combinative distancebased assessment (C.O.D.A.S.) method into the L.P.F. environment, and processes decision input expressed as Pythagorean fuzzy sets (P.F.S.) and pure linguistic variables (rather than converting linguistic information into fuzzy numbers). The developed L.P.F.-C.O.D.A.S. technique aggregates the L.P.F. information and is applied to the F.S.M. problem with uncertain linguistic information. A comparative analysis is carried out to compare the results obtained from the proposed L.P.F.-C.O.D.A.S. approach with those from other extensions of C.O.D.A.S. Furthermore, a sensitivity analysis is conducted to check the impact of changes in a distance threshold parameter on the ranking results.

Fermatean fuzzy CRITIC-EDAS approach for the selection of sustainable third-party reverse logistics providers using improved generalized score function

“…The objective of MCDM procedure is to select the best option from a set of options under a set of various attributes. Currently, numerous MCDM approaches namely COPRAS (Kumari and Mishra 2020 ; Mishra et al 2020a ), CODAS (He et al 2019 ; Zhou et al 2020 ), ELECTRE (Fei et al 2019 ; Mishra et al 2020b ), MULTIMOORA (Tian et al 2017 ; Wu et al 2020 ), TOPSIS (Aydemir and Gunduz 2020 ; Dammak et al 2020 ), TODIM (Zindani et al 2020 ; Mishra et al 2020c ), VIKOR (Rani et al 2019 ; Krishankumar et al 2020 ), WASPAS (Ghorabaee et al 2017 ; Mishra and Rani 2018 ) and others have been discussed to solve the MCDM problems on different uncertain environments. Each MCDM procedure has been developed with different advantages and disadvantages, though, the scholars usually select an approach which is based on the nature and intricacy of the problem.…”

Assessment Urban Transport Service and Pythagorean Fuzzy Sets CODAS Method: A Case of Study of Ciudad Juárez

“…Flores Ruvalcaba found that the weight of the criteria in CODAS method just considers necessary one expert to apply the method through linguistic terms does not have a step for calculate the contribution of the stakeholders, these stakeholders are named decision makers (DM) in MCDM. Zhou et al [43] developed an interesting model of aggregation with Pythagorean Fuzzy sets with CODAS and pure linguistic information, with application to financial strategies of multi-national companies.…”

“…Definition 2. Consider two PFNs [43] as P 1 = { x, P 1 (µ P1 (x), ν P1 (x) )x ∈ X} and P 2 = { x, P 1 (µ P2 (x), ν P2 (x) )x X} the following basic operations are valid:…”

A Multi-Criteria Decision-Making Method Based on Single-Valued Neutrosophic Partitioned Heronian Mean Operator

“…Zadeh first put forward the notion of fuzzy sets (FSs) [1]. Since then, multi-criteria decision-making (MCDM) methods based on FSs have been well developed and applied to hotel selection [2], investment project selection [3], supplier selection [4], solar power station site selection [5], recycling waste resource evaluation [6], and others [7][8][9][10][11][12][13]. However, due to the inherent subjectivity in the preferences of the decision makers (DMs), a single membership degree of FSs cannot adequately capture the subjectivity and uncertainty in the decision-making process.…”