A Fuzzy Matching Model with Hurwicz Criteria for One-Shot Multi-Attribute Exchanges in E-Brokerage

Fuzzy Optimization and Decision Making, 2014

22 Pages Posted: 25 Jul 2014

See all articles by Zhong-Zhong Jiang

Zhong-Zhong Jiang

Northeastern University - School of Business Administration, Department of Information Management and Decision Sciences

Ruiyou Zhang

Northeastern University

Z. P. Fan

Northeastern University - School of Business Administration, Department of Information Management and Decision Sciences

Xiaohong Chen

Central South University

Date Written: April 23, 2014

Abstract

The trade determination problem is an important decision problem for multi-attribute exchanges in E-brokerages. As of now, some studies have focused on this issue. However, theories and guidelines for the trade determination problem under fuzzy environments are still sparse. In this paper, taking into account the fuzzy information involved in one-shot multi-attribute exchanges, a new fuzzy matching model is proposed for the trade determination problem. In the model, we present a novel calculation method of the matching degree based on the improved fuzzy information axiom as a baseline study. Also, the credibility measure and Hurwicz criterion are introduced to convert the model into a crisp one. Since the crisp model is a 0-1 integer programming problem, the commonly used branch and bound algorithm and related optimization techniques become applicable. Finally, an example is employed to illustrate the application and sensitivity analysis of the proposed model.

Keywords: E-brokerage · Multi-attribute exchange; Fuzzy information; Trade determination problem; Hurwicz criterion; Credibility measure

Suggested Citation

Jiang, Zhong-Zhong and Zhang, Ruiyou and Fan, Z. P. and Chen, Xiaohong, A Fuzzy Matching Model with Hurwicz Criteria for One-Shot Multi-Attribute Exchanges in E-Brokerage (April 23, 2014). Fuzzy Optimization and Decision Making, 2014, Available at SSRN: https://ssrn.com/abstract=2470868

Zhong-Zhong Jiang (Contact Author)

Northeastern University - School of Business Administration, Department of Information Management and Decision Sciences ( email )

Shenyang, Liaoning
China

Ruiyou Zhang

Northeastern University ( email )

No. 11, Lane 3, WenHua Road
HePing District
Shenyang, Liaoning 110819
China

Z. P. Fan

Northeastern University - School of Business Administration, Department of Information Management and Decision Sciences ( email )

Shenyang, Liaoning
China

Xiaohong Chen

Central South University ( email )

Changsha, Hunan 410083
China

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