An intuitive fuzzy multi-attribute decision making method based on a herding psychology improved score function for trading decisions

Article type: Research Article

Authors: Zhang, Hong^{; *} | Liu, Shaojie

Affiliations: School of Economics and Management, Guangxi University of Science and Technology, Liu Zhou, China

Correspondence: [*] Corresponding author. Hong Zhang. E-mail: [email protected].

Abstract: The amount of used new energy vehicle transactions is increasing quickly as the social economy matures, yet prices are typically low, making it increasingly difficult to select a fair trading system. Enhancing the score function is crucial in order to account for how different people’s attitudes affect the outcome of decisions and to choose an acceptable trading strategy that is applicable to other scenarios and has a favorable impact on transaction flow. The choice of a trading scheme for new energy-using vehicles is usually regarded as a multi-attribute decision problem. In this paper, the Intuitionistic Fuzzy Hybrid Averaging (IFHA) operator integration operator with an improved score function is proposed based on the influence of herd mentality on decision-makers. In order to examine the correlation between the score function and the decision outcome using the Spearman rank correlation coefficient, an application to a real situation and some comparative analyses are provided. The outcomes demonstrate that the decision-making process for used car trading schemes can make use of the proposed improved score function.

Keywords: Intuitionistic fuzzy set, multi-characteristic decision making, used new energy car, improved score function, spearman rank correlation coefficient

DOI: 10.3233/JIFS-231358

Journal: Journal of Intelligent & Fuzzy Systems, vol. 46, no. 3, pp. 7353-7365, 2024