Decision support model with Pythagorean fuzzy preference relations and its application in financial early warnings

Pythagorean fuzzy sets (PFSs) retain the advantages of intuitionistic fuzzy sets (IFSs), while PFSs portray 1.57 times more information than IFSs. In addition, Pythagorean fuzzy preference relations (PFPRs), as a generalization of intuitionistic fuzzy preference relations (IFPRs), are more flexible...

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Bibliographic Details
Published in:Complex & intelligent systems 2022-02, Vol.8 (1), p.443-466
Main Authors: Wu, Wenying, Ni, Zhiwei, Jin, Feifei, Li, Ying, Song, Juan
Format: Article
Language:English
Subjects:
Complexity
Computational Intelligence
Consistency
Data Structures and Information Theory
Decision making
Decision support systems
Early warning systems
Engineering
Financial management
Fuzzy logic
Fuzzy sets
Original Article
Risk management
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Summary:Pythagorean fuzzy sets (PFSs) retain the advantages of intuitionistic fuzzy sets (IFSs), while PFSs portray 1.57 times more information than IFSs. In addition, Pythagorean fuzzy preference relations (PFPRs), as a generalization of intuitionistic fuzzy preference relations (IFPRs), are more flexible and applicable. The objective of this paper is to propose a novel decision support model for solving group decision-making problems in a Pythagorean fuzzy environment. First, we define the concepts of ordered consistency and multiplicative consistency for PFPRs. Then, aiming at the group decision-making problem of multiple PFPRs, a consistency improving model is constructed to improve the consistency of group preference relations. Later, a consensus reaching model is developed to reach the degree of group consensus. Furthermore, a decision support model with PFPRs is established to derive the normalized weights and output the final result. Holding these features, this paper builds a decision support model with PFPRs based on multiplicative consistency and consensus. Finally, the described method is validated by an example of financial risk management, and it is concluded that the solvency of a company is an important indicator that affects the financial early warning system.
ISSN:2199-4536
2198-6053
DOI:10.1007/s40747-021-00390-1