Academia de Studii Economice Bucuresti

Amfiteatru Economic
AN ECONOMIC AND BUSINESS RESEARCH PERIODICAL
Facultatea de Business si Turism

Picture Fuzzy Weighted Distance Measures and their Application to Investment Selection

Author:Meiling Liu, Shouzhen Zeng, Tomas Baležentis and Dalia Streimikiene

JEL:A12, C44, C60, D81, D89

DOI:10.24818/EA/2019/52/682

Keywords:Picture fuzzy set; distance measures; ordered weighted distance; multiple attribute group decision making; investment selection

Abstract:
The picture fuzzy set (PFS) is a powerful tool to collect and handle large amounts of uncertain assess information in a new light. In this study, we explore some distance measures for the PFSs and propose Picture fuzzy ordered weighted distance measure and Picture fuzzy hybrid weighted distance measure. Some of their properties are also mathematically explored. Moreover, we introduce a model for the aforesaid distance measures to solve multiple attribute group decision making (MAGDM) method in an updated way. And at the end of our paper a practical application of investment alternatives selection is provided to illustrate the validity and applicability of the presented work.
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