Abstract
Due to the huge applications of fuzzy set theory, many generalizations were available in literature. Atanassov (1983) and Atanassov and Gargov (1989) introduced the notions of intuitionistic fuzzy sets (IFSs) and interval-valued intuitionistic fuzzy sets (IVIFSs) respectively. It is observed that IFSs and IVIFSs are more suitable tools for dealing with imprecise information and very powerful in modeling real life problems. However, many researchers made efforts to rank IVIFSs due to its importance in fusion of information. In this paper, a new ranking method is introduced and studied for IVIFSs. The proposed method is compared and illustrated with other existing methods by numerical examples. Then, it is utilized to identify the best alternative in multiple criteria decision-making problems in which criterion values for alternatives are IVIFSs. On the basis of the developed approach, it would provide a powerful way to the decision-makers to make his or her decision under IVIFSs. The validity and applicability of the proposed method are illustrated with practical examples.
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