Extension of weighted aggregated sum product assessment with interval-valued intuitionistic fuzzy numbers (WASPAS-IVIF)

Abstract

Different methods are proposed in the framework of multi attribute utility theory for multi criteria decision making. Among the proposed methods, weighted sum and weighted product models (WSM and WPM) are well known and widely accepted. To improve the accuracy of WSM and WPM, the weighted aggregated sum product assessment (WASPAS) method was proposed which used an aggregation operator on WSM and WPM. In this paper, an extended version of WASPAS method is proposed which can be applied in uncertain decision making environment. In the proposed WASPAS-IVIF method, the uncertainty of decision maker(s) in stating their judgments and evaluations regard to criteria importance and/or alternatives performance on criteria are expressed by interval valued intuitionistic fuzzy numbers. Two numerical examples of ranking derelict buildings' redevelopment decisions and investment alternatives are presented. The results are then compared with the rankings provided by other methods such as TOPSIS-IVIF, COPRAS-IVIF and IFOWA. Combining the strengths of IVIFS in handling uncertainty with the enhanced accuracy of WASPAS makes the proposed method as a desirable method for multicriteria decision making in real world applications.