Retreat: Fuzzy multi-criteria decision making based on pros and cons

Abstract

We introduce a new fuzzy multi-criteria decision making method using interval type-2 pentagonal fuzzy numbers. We propose to incorporate pros and cons of an issue to arrive at better decision. The necessary concepts and terminologies are defined. The proposed decision method consists of three stages. We use a prioritized interval type-2 pentagonal fuzzy aggregation operator to arrive at a tentative decision in the second stage. We use the existing concept of synthesis value and define a new suitable formula in order to accommodate fuzzy decision environment with pros and cons of an issue. A formula to combine the de-fuzzified pro-value and con-value of an alternative is proposed and the same is used to rank the alternatives. We further introduce concept of consolation score to align the final decision with the gut level of a decision maker. The fuzzy concepts such as fuzzy relations and fuzzy trace theory are employed to arrive at consolation score. This newly proposed fuzzy multi-criteria decision making method is a comprehensive and complete approach to a decision problem particularly concerning life-issues.