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Novel Fermatean Fuzzy Aczel–Alsina Model for Investment Strategy Selection

Author

Listed:
  • Iftikhar Ul Haq

    (Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan)

  • Tanzeela Shaheen

    (Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan)

  • Wajid Ali

    (Department of Mathematics, Air University, PAF Complex E-9, Islamabad 44230, Pakistan)

  • Hamza Toor

    (Department of Biomedical Engineering, Riphah International University, Islamabad 45320, Pakistan)

  • Tapan Senapati

    (Department of Mathematics, Padima Janakalyan Banipith, Kukrakhupi, Jhargram 721517, India)

  • Francesco Pilla

    (School of Architecture Planning and Environmental Policy, University College Dublin, Belfield, D04 V1W8 Dublin, Ireland)

  • Sarbast Moslem

    (School of Architecture Planning and Environmental Policy, University College Dublin, Belfield, D04 V1W8 Dublin, Ireland)

Abstract

For choosing the optimal option for multiple issues, the multiattribute decision-making (MADM) technique within a Fermatean fuzzy environment is a well-known and significant method. This paper presents a novel superiority inferiority ranking (SIR) approach for Fermatean fuzzy sets in group decision-making using multicriteria to reduce investment risk. This approach aims to evaluate the strategies for selecting the optimal investment company. The SIR method is depicted, and its effectiveness in decision-making is explored. In this manuscript, we develop new types of A c z e l –A l s i n a operations on the Fermatean fuzzy environment and Fermatean Fuzzy A c z e l –A l s i n a (FF-AA) average aggregation operators, including their properties such as idempotency, monotonicity, and boundedness. Further, we introduce a Fermatean fuzzy A c z e l –A l s i n a weighted average closeness coefficient (FF-AA-WA- C C ) aggregation operator (AO) based on the closeness coefficient for MAGDM issues. By utilizing the proposed technique, we solve a numerical example of an MAGDM problem. The results show that this approach is accurate and practical, and consistent with a realistic investment circumstance. A demonstration was created to emphasize the significance and credibility of this approach and assess its validity by comparing its outcomes with the established methods.

Suggested Citation

  • Iftikhar Ul Haq & Tanzeela Shaheen & Wajid Ali & Hamza Toor & Tapan Senapati & Francesco Pilla & Sarbast Moslem, 2023. "Novel Fermatean Fuzzy Aczel–Alsina Model for Investment Strategy Selection," Mathematics, MDPI, vol. 11(14), pages 1-23, July.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:14:p:3211-:d:1199729
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    References listed on IDEAS

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