Investment project evaluation by a decision making methodology based on type-2 fuzzy sets

Applied Soft Computing

Volumn 27, Issue , 2015, Pages 399-410

  Kiliҫ, Mesut ^a   Kaya, Ihsan ^b  

^a Middle Black Sea Development Agency   (Turkey)

^b YILDIZ TECHNICAL UNIVERSITY   (Turkey)

Author keywords

Fuzzy sets; Investment; Project evaluation; TOPSIS; Type 2 fuzzy sets

Indexed keywords

FUZZY SETS; HIERARCHICAL SYSTEMS; INVESTMENTS; PROJECT MANAGEMENT;

COMPREHENSIVE EVALUATION MODEL; DECISION MAKING METHODOLOGY; DEVELOPMENT AGENCIES; EVALUATION MODELING; MULTI CRITERIA GROUP DECISION MAKING; PROJECT EVALUATION; TOPSIS; TYPE-2 FUZZY SET;

DECISION MAKING;

EID: 84919723784     PISSN: 15684946     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.asoc.2014.11.028     Document Type: Article

References (23)

1. OKA, Middle Black Sea Development Agency, 2013, 24 July. http://www.oka.org.tr/eng/middle-black-sea-development-agency.asp
2. S.M. Chen, L.W. Lee, Fuzzy multiple attributes group decision-making based on the interval type-2TOPSIS method, Expert Syst. Appl. 37 (2010) 2790-2798.
3. B.F. Hobbs, P. Meier, Energy Decisions and the Environment: A Guide to the Use of Multicriteria Methods, Kluwer Academic Publishers, Massachusetts, 2000.
4. C. Kahraman, I. Kaya, S. Cebi, A comparative analysis for multiattribute selection among renewable energy alternatives using fuzzy axiomatic design and fuzzy analytic hierarchy process, Energy 34 (2009) 1603-1616.
5. L.A. Zadeh, Fuzzy sets, Inf. Control 8 (1965) 338-353.
6. W. Wang, X. Liu, Y. Qin, Multi-attribute group decision making models under interval type-2 fuzzy environment, Knowl. Based Syst. 30 (2012) 121-128.
7. K.K. Damghani, S. Sadi-Nezhad, M.B. Aryanezhad, A modular decision support system for optimum investment selection in presence of uncertainty: combination of fuzzy mathematical programming and fuzzy rule based system, Expert Syst. Appl. 38 (2011) 824-834.
8. E.E. Karsak, E. Tolga, Fuzzy multi-criteria decision-making procedure for evaluating advanced manufacturing system investments, Int. J. Prod. Econ. 69 (2001) 49-64.
9. C. Kahraman, D. Ruan, E. Tolga, Capital budgeting techniques using discounted fuzzy versus probabilistic cash flows, Inf. Sci. 142 (2002) 57-76.
10. J.M. Mendel, R.I.B. John, Type-2 fuzzy sets made simple, IEEE Trans. Fuzzy Syst. 10 (2) (2002) 117-127.
11. J.M. Mendel, R.I. John, F.L. Liu, Interval type-2 fuzzy logical systems made simple, IEEE Trans. Fuzzy Syst. 14 (6) (2006) 808-821.
12. M. Erdogan, ̄. Kaya, An integrated multi-criteria decision-making methodology based on type-2 fuzzy sets for selection among energy alternatives in Turkey, Iran. J. Fuzzy Syst. (2014) (in press).
13. M. Erdogan, ̄. Kaya, A type-2 fuzzy MCDM method for ranking private universities in Istanbul, in: Proceedings of the World Congress on Engineering 2014, vol. I, WCE, 2-4 July, London, UK, 2014.
14. M. Erdogan, ̄. Kaya, Evaluating of alternative-fuel busses for public transportation in Istanbul using interval type-2 fuzzy AHP and TOPSIS, J. Mult. Valued Log. Soft Comput. (2014) (in press).
15. D.R. Wu, J.M. Mendel, Aggregation using the linguistic weighted average and interval type-2 fuzzy sets, IEEE Trans. Fuzzy Syst. 15 (6) (2007) 1145-1161.
16. S.M. Chen, L.W. Lee, Fuzzy multiple attributes group decision-making based on the ranking values and the arithmetic operations of interval type-2 fuzzy sets, Expert Syst. Appl. 37 (1) (2010) 824-833.
17. J.M. Mendel, D. Wu, Perceptual Computing: Aiding People in Making Subjective Judgments, IEEE Press, Piscataway, NJ, 2010.
18. J.M. Mendel, Type-2 fuzzy sets and systems: an overview, Comput. Intell. Mag. IEEE 2 (2007) 20-29.
19. L.W. Lee, S.M. Chen, A new method for fuzzy multiple attributes group decision-making based on the arithmetic operations of interval type-2 fuzzy sets, in: Proceedings of 2008 International Conference on Machine Learning and Cybernetics, vols. 1-7, IEEE, New York, 2008, pp. 3084-3089.
20. S.M. Chen, M.W. Yang, L.W. Lee, S.W. Yang, Fuzzy multiple attributes group decision-making based on ranking interval type-2 fuzzy sets, Expert Syst. Appl. 39 (2012) 5295-5308.
21. T.L. Saaty, Multicriteria decision making: the analytic hierarchy process, RWS Publications, Pittsburgh, PA, 1980.
22. I. Uc¸al Sari, B. Oztaysi, C. Kahraman, Fuzzy analytic hierarchy process using type-2 fuzzy sets: An application to warehouse location selection, in: Multicriteria Decision Aid and Artificial Intelligence: Links, Theory and Applications, first ed., John Wiley & Sons, Ltd., 2013.
23. J.J. Buckley, Fuzzy hierarchical analysis, Fuzzy Set. Syst. 17 (1985) 233-247.