Methods for MADM with Picture Fuzzy Muirhead Mean Operators and Their Application for Evaluating the Financial Investment Risk

Abstract

In this article, we study multiple attribute decision-making (MADM) problems with picture fuzzy numbers (PFNs) information. Afterwards, we adopt a Muirhead mean (MM) operator, a weighted MM (WMM) operator, a dual MM (DMM) operator, and a weighted DMM (WDMM) operator to define some picture fuzzy aggregation operators, including the picture fuzzy MM (PFMM) operator, the picture fuzzy WMM (PFWMM) operator, the picture fuzzy DMM (PFDMM) operator, and the picture fuzzy WDMM (PFWDMM) operator. Of course, the precious merits of these defined operators are investigated. Moreover, we have adopted the PFWMM and PFWDMM operators to build a decision-making model to handle picture fuzzy MADM problems. In the end, we take a concrete instance of appraising a financial investment risk to demonstrate our defined model and to verify its accuracy and scientific merit.