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Multi-person and multi-criteria decision making with the induced probabilistic ordered weighted average distance

  • Montserrat Casanovas
  • Agustín Torres-MartínezEmail author
  • José M. Merigó
Methodologies and Application
  • 60 Downloads

Abstract

This paper presents a new approach for selecting suppliers of products or services, specifically with respect to complex decisions that require evaluating different business characteristics to ensure their suitability and to meet the conditions defined in the recruitment process. To address this type of problem, this study presents the multi-person multi-criteria induced ordered weighted average distance (MP-MC-IOWAD) operator, which is an extension of the OWA operators that includes the notion of distances to multiple criteria and expert valuations. Thus, this work introduces new distance measures that can aggregate the information with probabilistic information and consider the attitudinal character of the decision maker. Further extensions are developed using probabilities to form the induced probabilistic ordered weighted average distance (IPOWAD) operator. An example in the management of insurance policies is presented, where the selection of insurance companies is very complex and requires the consideration of subjective criteria by experts in decision making.

Keywords

Fuzzy logic Multi-criteria decision making OWA operator Fuzzy distances 

Notes

Acknowledgements

We would like to thank the associate editor and the anonymous reviewers for valuable comments that have significantly improved the quality of the paper. Support from the MAPFRE Foundation, the Fondecyt Regular Programme of the Chilean Government and the European Commission through the project PIEF-GA-2011-300062, is gratefully acknowledged.

Compliance with ethical standards

Conflict of interest

The authors declare that they do not have any conflicts of interest.

Ethical approval

This article does not contain any studies with human participants performed by any of the authors.

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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2019

Authors and Affiliations

  1. 1.Department of Business AdministrationUniversity of BarcelonaBarcelonaSpain
  2. 2.Faculty of Economics and Administrative SciencesUniversidad Católica de la Santísima ConcepciónConcepciónChile
  3. 3.Department of Management Control and Information Systems, School of Economics and BusinessUniversity of ChileSantiagoChile
  4. 4.School of Information, Systems and Modelling, Faculty of Engineering and Information TechnologyUniversity of Technology SydneySydneyAustralia

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