Fuzzy TOPSIS technique for multi-criteria group decision-making: A study of crude oil price

IF 3.2 Q3 Mathematics Results in Control and Optimization Pub Date : 2025-06-01 Epub Date: 2025-04-09 DOI:10.1016/j.rico.2025.100565

Sandhya Priya Baral, Prashanta Kumar Parida, Diptirekha Sahoo

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Abstract

Understanding the state of the world economy is improved by forecasting the price from oil industry. The field of crude oil price forecasting have recently heard about the technique for order preference by similarity to ideal solution (TOPSIS) and fuzzy TOPSIS (FTOPSIS) techniques; while choosing the crude oil that counteract in global oil spill reactions. A multi-criteria decision-making (MCDM) challenge has to weight several options according to various criteria. The present study, initially describes type-1 FTOPSIS technique. Secondly, it describes its extension to handle the uncertain data, known as type-1 FTOPSIS technique in multi-criteria group decision making (MCGDM). Thirdly, it also describes type-1 FTOPSIS for group decision-making (DM) to rating the response choices to a simulated crude oil price, which is one of the biggest crude oil reservoirs in the world. The outcome demonstrates the type-1 fuzzy TOPSIS framework for determining the optimal solution by considering the crude oil globally.

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多准则群体决策的模糊TOPSIS技术：原油价格研究

通过预测石油行业的价格，可以更好地了解世界经济状况。在原油价格预测领域，最近出现了基于理想解相似性的排序偏好技术（TOPSIS）和模糊TOPSIS （FTOPSIS）技术；同时选择原油来抵消全球石油泄漏反应。多标准决策（MCDM）挑战必须根据不同的标准对多个选项进行权衡。本研究首先描述了1型FTOPSIS技术。其次，介绍了该方法在多准则群决策（MCGDM）中对不确定数据处理的扩展，即type-1 FTOPSIS技术。第三，描述了1型FTOPSIS用于群体决策（DM），对模拟原油价格的响应选择进行评级，这是世界上最大的原油储层之一。结果表明，在全局考虑原油的情况下，一类模糊TOPSIS框架可用于确定最优解。

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