the present study is an attempt toward evaluating the performance of portfolios and asset selectionusing cross-efficiency evaluation. cross-efficiency evaluation is an effective way of ranking decisionmaking units (dmus) in data envelopment analysis (dea). conventional dea models assume nonnegativevalues for inputs and outputs. however, we know that unlike return and skewness, varianceis the on...

The extension principle defines the arithmetic operations on fuzzy numbers. In the extension principle one can use any t-norm for modeling the conjunction operator. It is therefore important to know, which t-norms are consistent with a particular type of fuzzy number. We call a t-norm consistent, if the arithmetic operation is closed. In this paper we investigate the addition of sigmoid and two...

This paper focuses on the integration of GIS and an extension of the analytical hierarchy process (AHP) using quantifier-guided ordered weighted averaging (OWA) procedure. AHP_OWA is a multicriteria combination operator. The nature of the AHP_OWA depends on some parameters, which are expressed by means of fuzzy linguistic quantifiers. By changing the linguistic terms, AHP_OWA can generate a wid...

Complex fuzzy sets (CFSs) are a suitable tool to manage spatial directional information which includes distance and direction. However, is given by linguistic values. It very awkward for the CFS describe this type of information. To overcome limitation, we first propose novel concept called complex set (LCFS) serve as an extension CFS. Then put forward some basic operational laws LCFSs. After t...

In this paper we propose a special type of aggregation function which generalizes the notion of Ordered Weighted Averaging Function OWA. The resulting functions are called Dynamic Ordered Weighted Averaging Functions — DYOWAs. This generalization will be developed in such way that the weight vectors are variables depending on the input vector. Particularly, this operators generalize the aggrega...

This paper explores the method for evaluating the risks of venture capital projects. Based on analyzing the factors affecting the risks of venture capital projects, I establish an index system for evaluating the risks. I present a model for evaluating the risk level of single venture capital project by applying the uncertain type analysis of hierarchy process and the extended weighted arithmeti...

We develop a new approach for decision making in educational management based on the use of distance measures. We focus on the selection of a studies plan from the perspective of an academic institution. We try to develop this approach showing the benefits of establishing an ideal plan that we compare with the available alternatives. We use the Minkowski distance, the ordered weighted averaging...

Distortion risk measures summarize the risk of a loss distribution by means of a single value. In fuzzy systems, the Ordered Weighted Averaging (OWA) and Weighted Ordered Weighted Averaging (WOWA) operators are used to aggregate a large number of fuzzy rules into a single value. We show that these concepts can be derived from the Choquet integral, and then the mathematical relationship between ...

Fuzzy number approximation by trapezoidal fuzzy numbers which preserves the expected interval is discussed. New algorithms for calculating the proper trapezoidal approximation of fuzzy numbers with respect to the distance based on bi-symmetrical weighted functions are proposed. It is shown that the adequate approximation operator is chosen with respect both to the global spread of a fuzzy numbe...