Journal of Economics and Management  
  Volume 14, No. 2  
  August, 2018  
     
 

Applying Linguistic Cognitive Map Method to Deal with Multiple Criteria Decision-making Problems

 
   
  Chen-Tung Chen  
 

Department of Information Management, National United University, Taiwan

 
     
  Wei-Zhan Hung  
  Department of Industrial Engineering and Enterprise Information, Tunghai University, Taiwan  
     
  Hui-Ling Cheng  
  Department of Finance, Overseas Chinese University, Taiwan  
     
 

Abstract

 

In general, decision-makers must consider many influence factors when dealing with decision-making problems, and these factors will interact with each other. The fuzzy cognitive map (FCM) is an analysis tool that can illustrate the causal relationships among influence factors by a network structure. In addition, the opinions of experts are subjective and vague in the decision-making process. It is suitable for experts to use linguistic variables to express their opinions. Therefore, this paper presented a linguistic cognitive map decision method (LCMDM) by combining linguistic variables with a fuzzy cognitive map to deal with multiple criteria decision-making problems. Finally, a numerical example was implemented to illustrate the computational process of the proposed method. The conclusions and future research directions were discussed at the end of this paper.

   

 

 

Keywords: linguistic variables, fuzzy cognitive map, multiple criteria decision making (MCDM)    

 

 

JEL classification: C00, C02, C18

 

 
   

 

    Back