Multicriteria Decision-Making Method Based On Cosine Similarity Measures Between Interval- Valued Fuzzy Sets With Risk Preference

This paper presents the cosine similarity measure between IVFSs with risk preference and gives its decision making method using the cosine similarity measure depending on decision makers’ optimistic, neutral, and pessimistic natures for the subjective judgments that accompany the decision making process. Through the weighted cosine similarity measure between an alternative and the ideal alternative corresponding to one of optimistic, neutral, and pessimistic choices desired by decision makers, we can determine the ranking order of alternatives and the best one. This choosing feature corresponding to decision makers’ preference makes the proposed method not only more flexible, but also more suitable for many practical applications. Finally, an illustrative example is presented to demonstrate the feasibility and applicability of the proposed method.