A Novel Approach to Fuzzy Multi-Attribute Group Decision Making Based On Interval Valued Intuitionistic Fuzzy Best-Worst Method

Today due to the globalization and competitive conditions of the market, decisions are generally made in group and in accordance with different attributes. In addition, all of the information is associated with uncertainty. In such situation, the emergence of inconsistency and facing with the contradictions will be obvious. Having regarded this fact, the development and application of tools that adequately address the uncertainty in decision making process and also be appropriate for group decision making is an important area of multi-criteria decision making (MCDM). Therefore, in this paper, firstly we developed the traditional best-worst method (BWM) and proposed an interval-valued intuitionistic fuzzy best-worst method (IVIFBWM), then introduced a novel approach for fuzzy multi-attribute group decision making based on the proposed method. Finally, in order to demonstrate how the introduced approach can be applied in practice, it is implemented in an Iranian investment company and the experimental results are examined. From the experimental results, we can extract that not only the introduced approach is simple in calculation but also it is convenient in implementation especially in interval-valued intuitionistic fuzzy environments.

Keywords:

Multi-Attribute Group Decision Making , Interval-Valued Intuitionistic Fuzzy Sets , Interval-Valued Intuitionistic Fuzzy Best-Worst Method , Financial Environments.