An extended MABAC method based on prospect theory with unknown weight information under Fermatean fuzzy environment for risk investment assessment in B&R

Multi-attribute decision making based on VIKOR with probabilistic linguistic term sets: An application to the risk evaluation of foreign direct investment

The multiple global environments have triggered changes in the international environment, leading to a sharp decline of foreign direct investment (FDI) compared to pre-pandemic level. To evaluate the investment risk of FDI and make optimal investment decision becomes the most important issue for investors. This paper focuses on the evaluation of investment risk for FDI. First, an index system for risk evaluation of FDI is constructed. Then, we introduce the probabilistic linguistic entropy and cross entropy measures, based on which, a programming model is developed to identify the objective attribute weights. A composite weight derivation method, which takes both the objective attribute weights and the subjective attribute weights into account, is further introduced. In view of attributes' uncertainty and fuzziness and the conflicting characteristics of some attributes, the VIKOR (the Serbian name: VlseKriterijumska Optimizacija I Kompromisno Resenje, means multi-criteria optimization and compromise solution) method is used to evaluate the risk of FDI under the probabilistic linguistic environment. Furthermore, a case study is presented to illustrate the proposed method. The comparative analysis and some further discussions verify the validity of the proposed method for the FDI risk evaluation.

Optimal Design of Wood/Rice Husk-Waste-Filled PLA Biocomposites Using Integrated CRITIC–MABAC-Based Decision-Making Algorithm

Based on the criteria importance through inter-criteria correlation (CRITIC) and the multi-attributive border approximation area comparison (MABAC), a decision-making algorithm was developed to select the optimal biocomposite material according to several conflicting attributes. Poly(lactic acid) (PLA)-based binary biocomposites containing wood waste and ternary biocomposites containing wood waste/rice husk with an overall additive content of 0, 2.5, 5, 7.5 and 10 wt.% were manufactured and evaluated for physicomechanical and wear properties. For the algorithm, the following performance attributes were considered through testing: the evaluated physical (density, water absorption), mechanical (tensile, flexural, compressive and impact) and sliding wear properties. The water absorption and strength properties were found to be the highest for unfilled PLA, while modulus performance remained the highest for 10 wt.% rice husk/wood-waste-added PLA biocomposites. The density of PLA biocomposites increased as rice husk increased, while it decreased as wood waste increased. The lowest and highest density values were recorded for 10 wt.% wood waste and rice husk/wood-waste-containing PLA biocomposites, respectively. The lowest wear was exhibited by the 5 wt.% rice husk/wood-waste-loaded PLA biocomposite. The experimental results were composition dependent and devoid of any discernible trend. Consequently, prioritizing the performance of PLA biocomposites to choose the best one among a collection of alternatives became challenging. Therefore, a decision-making algorithm, called CRITIC–MABAC, was used to select the optimal composition. The importance of attributes was determined by assigning weight using the CRITIC method, while the MABAC method was employed to assess the complete ranking of the biocomposites. The results achieved from the hybrid CRITIC–MABAC approach demonstrated that the 7.5 wt.% wood-waste-added PLA biocomposite exhibited the optimal physicomechanical and wear properties.

Analysis of Interval-Valued Intuitionistic Fuzzy Aczel–Alsina Geometric Aggregation Operators and Their Application to Multiple Attribute Decision-Making

When dealing with the haziness that is intrinsic in decision analysis-driven decision making procedures, interval-valued intuitionistic fuzzy sets (IVIFSs) can be quite effective. Our approach to solving the multiple attribute decision making (MADM) difficulties, where all of the evidence provided by the decision-makers is demonstrated as interval-valued intuitionistic fuzzy (IVIF) decision matrices, in which all of the components are distinguished by an IVIF number (IVIFN), is based on Aczel–Alsina operational processes. We begin by introducing novel IVIFN operations including the Aczel–Alsina sum, product, scalar multiplication, and exponential. We may then create IVIF aggregation operators, such as the IVIF Aczel–Alsina weighted geometric operator, the IVIF Aczel–Alsina ordered weighted geometric operator, and the IVIF Aczel–Alsina hybrid geometric operator, among others. We present a MADM approach that relies on the IVIF aggregation operators that have been developed. A case study is used to demonstrate the practical applicability of the strategies proposed in this paper. By contrasting the newly developed technique with existing techniques, the method is capable of demonstrating the advantages of the newly developed approach. A key result of this work is the discovery that some of the current IVIF aggregation operators are subsets of the operators reported in this article.