Designing a model of intuitionistic fuzzy VIKOR in multi-attribute group decision-making problems

Multiple attributes group decision making (MAGDM) is regarded as the process of determining the best feasible solution by a group of experts or decision makers according to the attributes that represent different effects. In assessing the performance of each alternative with respect to each attribute and the relative importance of the selected attributes, quantitative/qualitative evaluations are often required to handle uncertainty, imprecise and inadequate information, which are well suited to represent with fuzzy values. This paper develops a VIKOR method based on intuitionistic fuzzy sets with multi-judges and multi-attributes in real-life situations. Intuitionistic fuzzy weighted averaging (IFWA) operator is used to aggregate individual judgments of experts to rate the importance of attributes and alternatives. Then, an intuitionistic ranking index is introduced to obtain a compromise solution to solve MAGDM problems.  For application and validation, this paper presents two application examples and solves the practical portfolio selection and material handling selection problems to verify the proposed method. Finally, the intuitionistic fuzzy VIKOR method is compared with the existing intuitionistic fuzzy MAGDM method for two application examples, and their computational results are discussed.

Keywords:

Intuitionistic fuzzy sets , VIKOR method , Group decision making , Portfolio selection , Material handling selection