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Using Ordered Weighted Average for Weighted Averages Inflation

Author

Listed:
  • Luis F. Espinoza-Audelo

    (#x2020;Universidad of Occidente, Blvd. Lola Beltrán s/n esq. Circuito Vial, Culiacán 80200, México)

  • Ernesto León-Castro

    (Universidad de la Salle Bajio, Av Universidad 602 Lomas del Campestre, C.P. #37150 León, Guanajuato, Mexico)

  • Marycruz Olazabal-Lugo

    (#x2020;Universidad of Occidente, Blvd. Lola Beltrán s/n esq. Circuito Vial, Culiacán 80200, México)

  • José M. Merigó

    (#x2021;School of Systems, Management and Leadership, Faculty of Engineering and Information Technology, University of Technology Sydney, Ultimo, 2007 NSW, Australia§Department of Management Control and Information Systems, School of Economics and Business, University of Chile, Av. Diagonal Paraguay 257, 8330015 Santiago, Chile)

  • Anna M. Gil-Lafuente

    (#xB6;Department of Business Administration, University of Barcelona Av. Diagonal 690, 08034 Barcelona, Spain)

Abstract

This paper presents the ordered weighted average weighted average inflation (OWAWAI) and some extensions using induced and heavy aggregation operators and presents the generalized operators and some of their families. The main advantage of these new formulations is that they can use two different sets of weighting vectors and generate new scenarios based on the reordering of the arguments with the weights. With this idea, it is possible to generate new approaches that under- or overestimate the results according to the knowledge and expertise of the decision-maker. The work presents an application of these new approaches in the analysis of the inflation in Chile, Colombia, and Argentina during 2017.

Suggested Citation

  • Luis F. Espinoza-Audelo & Ernesto León-Castro & Marycruz Olazabal-Lugo & José M. Merigó & Anna M. Gil-Lafuente, 2020. "Using Ordered Weighted Average for Weighted Averages Inflation," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 19(02), pages 601-628, April.
    • Handle: RePEc:wsi:ijitdm:v:19:y:2020:i:02:n:s0219622020500066
    DOI: 10.1142/S0219622020500066
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    References listed on IDEAS

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