Methods for probabilistic decision making with linguistic information

Abstract

With respect to decision making problems by using probabilities, immediate probabilities and information that can be represented with linguistic labels, some new decision analysis are proposed. Firstly, we shall develop three new aggregation operators: generalized probabilistic 2-tuple weighted average (GP-2TWA) operator, generalized probabilistic 2-tuple ordered weighted average (GP-2TOWA) operator and generalized immediate probabilistic 2-tuple ordered weighted average (GIP-2TOWA) operator. These operators use the weighted average (WA) operator, the ordered weighted average (OWA) operator, linguistic information, probabilistic information and immediate probabilistic information. They are quite useful because they can assess the uncertain information within the problem by using both linguistic labels and the probabilistic information that considers the attitudinal character of the decision maker. In these approaches, alternative appraisal values are calculated by the aggregation of 2-tuple linguistic information. Thus, the ranking of alternative or selection of the most desirable alternative(s) is obtained by the comparison of 2-tuple linguistic information. Finally, we give an illustrative example about selection of strategies to verify the developed approach and to demonstrate its feasibility and practicality.

First published online: 28 Jan 2014