{"title":"The Induced Generalized Hybrid Averaging Operator and its Application in Financial Decision Making","authors":"Jos\u00e9 M. Merig\u00f3, Montserrat Casanovas","volume":31,"journal":"International Journal of Economics and Management Engineering","pagesStart":1556,"pagesEnd":1563,"ISSN":"1307-6892","URL":"https:\/\/publications.waset.org\/pdf\/15546","abstract":"We present the induced generalized hybrid\r\naveraging (IGHA) operator. It is a new aggregation operator\r\nthat generalizes the hybrid averaging (HA) by using\r\ngeneralized means and order inducing variables. With this\r\nformulation, we get a wide range of mean operators such as\r\nthe induced HA (IHA), the induced hybrid quadratic\r\naveraging (IHQA), the HA, etc. The ordered weighted\r\naveraging (OWA) operator and the weighted average (WA)\r\nare included as special cases of the HA operator. Therefore,\r\nwith this generalization we can obtain a wide range of\r\naggregation operators such as the induced generalized OWA\r\n(IGOWA), the generalized OWA (GOWA), etc. We further\r\ngeneralize the IGHA operator by using quasi-arithmetic\r\nmeans. Then, we get the Quasi-IHA operator. Finally, we also\r\ndevelop an illustrative example of the new approach in a\r\nfinancial decision making problem. The main advantage of the\r\nIGHA is that it gives a more complete view of the decision\r\nproblem to the decision maker because it considers a wide\r\nrange of situations depending on the operator used.","references":"[1] R.R. Yager, \"On Ordered Weighted Averaging Aggregation Operators\r\nin Multi-Criteria Decision Making\", IEEE Trans. Systems, Man and\r\nCybernetics, vol. 18, pp. 183-190, 1988.\r\n[2] G. Beliakov, A. Pradera, and T. Calvo, Aggregation Functions: A guide\r\nfor practitioners, Springer-Verlag, Berlin, 2007.\r\n[3] T. Calvo, G. Mayor, and R. 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