Fuzzy risk analysis by similarity-based multi-criteria approach to classify alternatives

Abstract

In this paper, a new method for fuzzy risk analysis based on similarity of fuzzy numbers is presented. First of all, the similarity-based multi-criteria approach is used to find the similarity between generalized trapezoidal fuzzy numbers and the desired fuzzy number to rank them. The geometry distance, spread difference, perimeter ratio, area ratio, and height ratio have been considered as criteria. Secondly, the proposed ranking approach is used for fuzzy risk analysis. Severity of loss, probability of failure, and failure ignorance possibility are the parameters to assess the risk of various alternatives. In the proposed fuzzy risk analysis, the alternatives can be classified into differe..