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Geometric Operators in Decision Making with Minimization of Regret

Authors: José M. Merigó, Montserrat Casanovas

Abstract:

We study different types of aggregation operators and the decision making process with minimization of regret. We analyze the original work developed by Savage and the recent work developed by Yager that generalizes the MMR method creating a parameterized family of minimal regret methods by using the ordered weighted averaging (OWA) operator. We suggest a new method that uses different types of geometric operators such as the weighted geometric mean or the ordered weighted geometric operator (OWG) to generalize the MMR method obtaining a new parameterized family of minimal regret methods. The main result obtained in this method is that it allows to aggregate negative numbers in the OWG operator. Finally, we give an illustrative example.

Keywords: Decision making, Regret, Aggregation operators, OWA operator, OWG operator.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1077985

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