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Multi-Attribute Decision Making Using Interval Type-2 Fuzzy AHP and Its Application on Borsa Istanbul (BIST)

Multi-Attribute Decision Making Using Interval Type-2 Fuzzy AHP and Its Application on Borsa Istanbul (BIST)

Beyza Ahlatcioglu Ozkok, Hale Gonce Kocken
Copyright: © 2021 |Pages: 27
ISBN13: 9781799854425|ISBN10: 1799854426|ISBN13 Softcover: 9781799854432|EISBN13: 9781799854449
DOI: 10.4018/978-1-7998-5442-5.ch002
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MLA

Ozkok, Beyza Ahlatcioglu, and Hale Gonce Kocken. "Multi-Attribute Decision Making Using Interval Type-2 Fuzzy AHP and Its Application on Borsa Istanbul (BIST)." Interdisciplinary Perspectives on Operations Management and Service Evaluation, edited by Panagiotis Manolitzas, et al., IGI Global, 2021, pp. 30-56. https://doi.org/10.4018/978-1-7998-5442-5.ch002

APA

Ozkok, B. A. & Gonce Kocken, H. (2021). Multi-Attribute Decision Making Using Interval Type-2 Fuzzy AHP and Its Application on Borsa Istanbul (BIST). In P. Manolitzas, C. Zopounidis, M. Talias, E. Grigoroudis, & N. Matsatsinis (Eds.), Interdisciplinary Perspectives on Operations Management and Service Evaluation (pp. 30-56). IGI Global. https://doi.org/10.4018/978-1-7998-5442-5.ch002

Chicago

Ozkok, Beyza Ahlatcioglu, and Hale Gonce Kocken. "Multi-Attribute Decision Making Using Interval Type-2 Fuzzy AHP and Its Application on Borsa Istanbul (BIST)." In Interdisciplinary Perspectives on Operations Management and Service Evaluation, edited by Panagiotis Manolitzas, et al., 30-56. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-5442-5.ch002

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Abstract

Analytic hierarchy process (AHP) is a widely used multi-attribute decision-making (MADM) approach. Due to the complexity and uncertainty involved in real world problems, decision makers might be prefer to make fuzzy judgments instead of crisp ones. Furthermore, even when people use the same words, individual judgments of events are invariably subjective, and the interpretations that they attach to the same words may differ. This is why fuzzy numbers has been introduced to characterize linguistic variables. Fuzzy AHP methods have recently been extended by using type-2 fuzzy sets. Type-2 fuzzy set theory incorporates the uncertainty of membership functions into the fuzzy set theory. In this chapter, the authors firstly provide a short review on applications of interval type-2 fuzzy AHP on MADM problems. Then, they present a very efficient MADM technique, interval type-2 fuzzy AHP, to solve the portfolio selection problem that is to decide which stocks are to be chosen for investment and in what proportions they will be bought. And finally, they provided a case study on BIST.

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