Fuzzy Risk Analysis for a Production System Based on the Nagel Point of a Triangle

Abstract

Ordering and ranking fuzzy numbers and their comparisons play a significant role in decision-making problems such as social and economic systems, forecasting, optimization, and risk analysis problems. In this paper, a new method for ordering triangular fuzzy numbers using the Nagel point of a triangle is presented. With the aid of the proposed method, reasonable properties of ordering fuzzy numbers are verified. Certain comparative examples are given to illustrate the advantages of the new method. Many papers have been devoted to studies on fuzzy ranking methods, but some of these studies have certain shortcomings. The proposed method overcomes the drawbacks of the existing methods in the literature. The suggested method can order triangular fuzzy numbers as well as crisp numbers and fuzzy numbers with the same centroid point. An application to the fuzzy risk analysis problem is given, based on the suggested ordering approach.