Abstract
Hesitant Fuzzy Set (HFS) permits the membership function having a collection of probable values which are more effective for modelling the real-life problems. Multiple Attribute Decision Making (MADM) process apparently assesses multiple conflicting attribute in decision making. In traditional decision making problems, each player is moving independently whereas in reality it is seen that each player aims to maximize personal profit which causes a negative impact on other player. MADM problem treats with candidate to the best alternative corresponding to the several attributes. Here, we present an MADM problem under hesitant fuzzy information and then transforming it into two-person matrix game, referred to herein as MADM game. The Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is one of the prominent approach for solving the MADM problems. In this work, we develop the TOPSIS based on Ordered Weighted Aggregation (OWA) operator and hybrid hesitant fuzzy normalized Euclidean distance.Please check whether short title on odd pages have been set correctly. Then the two approaches, namely Hybrid Hesitant Fuzzy Ordered Weighted Aggregation-TOPSIS (HHFOWA-TOPSIS) and the Linear Programming Problem (LPP) are applied to solve the formulated MADM game. For solving MADM game, we apply LPP by considering the various values of α,ψ, and HHFOWA-TOPSIS for finding the optimal alternative according to their scores.Please provide missing AMS classification codes. An investment selection problem is included to explain the feasibility and superiority of our formulated approaches. A comparison analysis is drawn among the obtained results which are derived from the two approaches. LPP and HHFOWA-TOPSIS provide the best alternative for the proposed problem. Finally, conclusions about our findings and outlooks are described.
Highlights
Game theory is predominantly employed as a skilful task for decision making problems in the competitive scheme
Inspired by the idea of Ordered Weighted Aggregation (OWA) operator based on the existing hesitant fuzzy information aggregation and distance measure, we propose a new hesitant fuzzy distance measure, called Hybrid Hesitant Fuzzy Ordered Weighted Average (HHFOWA) operator
Thereafter, Linear Programming Problem (LPP) and HHFOWA-TOPSIS approach are applied to solve the hesitant fuzzy Multiple Attribute Decision Making (MADM) game for deriving the optimal strategy and the expected score of each alternative corresponding to the attributes are different than Chen and Larbani [11]
Summary
Game theory is predominantly employed as a skilful task for decision making problems in the competitive scheme. In this regard how to settle decisions in competitive situation is as common and important one. The competitive situations are arisen on business model, economics, political science, management science, computer science and engineering etc. Game theory constructs with how Decision Makers (DMs) make judgement when they defend with precise payoffs. For this reason, the knowledge of game theory is graceful in business environment and industry. Matrix game has numerous significant appliances, for example,
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