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An intelligent sv-neutrosophic parameterized MCDM approach to risk evaluation based on complex fuzzy hypersoft set for real estate investments

Huilong Zhang (Business School, Jiangxi Normal University, Nanchang, China)
Yudong Zhang (Business School, Jiangxi Normal University, Nanchang, China)
Atiqe Ur Rahman (Department of Mathematics, University of Management and Technology, Lahore, Pakistan)
Muhammad Saeed (Department of Mathematics, University of Management and Technology, Lahore, Pakistan)

Management Decision

ISSN: 0025-1747

Article publication date: 29 June 2022

Issue publication date: 16 March 2023

173

Abstract

Purpose

In this article, the elementary notions and aggregation operations of single-valued neutrosophic parameterized complex fuzzy hypersoft set (sv-NPCFHSS) are characterized initially. Then by using matrix version of sv-NPCFHSS, a decision-support system is constructed for the evaluation of real estate residential projects by observing various risk factors.

Design/methodology/approach

Two approaches are utilized in this research: set-theoretic approach and algorithmic approach. The first approach is used to investigate the notions of sv-NPCFHSS and its some aggregations whereas the second approach is used to propose an algorithm for designing its decision-support system by using the aggregation operations like reduced fuzzy matrix, decision matrix, etc. of sv-NPCFHSS. The adopted algorithm is validated in real estate scenario for the selection of residential project by observing various risk factors to avoid any expected investment loss.

Findings

The proposed approach is more flexible and reliable as it copes with the shortcomings of literature on sv-neutrosophic set, sv-neutrosophic soft set and other fuzzy soft set-like structures by considering hypersoft setting, complex setting and neutrosophic setting collectively.

Research limitations/implications

It has limitations for complex intuitionistic fuzzy hypersoft set, complex neutrosophic hypersoft set and other complex neutrosophic hypersoft set-like models.

Practical implications

The scope of this research may cover a wide range of applications in several fields of mathematical sciences like artificial intelligence, optimization, MCDM, theoretical computer science, soft computing, mathematical statistics etc.

Originality/value

The proposed model bears the characteristics of most of the relevant existing fuzzy soft set-like models collectively and fulfills their limitations.

Keywords

Acknowledgements

This work was sponsored in part by National Natural Science Foundation of China (7210209272002089), Jiangxi Social Science Planning Project (Grant No: 20GL38), Humanities and Social Sciences Project of Jiangxi University (Grant No: GL20234GL20208) and Jiangxi Teaching Reform Planning Project (Grant No: JXJG-20-2-36).

Conflicts of interest: The authors declare no conflict of interest.

Citation

Zhang, H., Zhang, Y., Rahman, A.U. and Saeed, M. (2023), "An intelligent sv-neutrosophic parameterized MCDM approach to risk evaluation based on complex fuzzy hypersoft set for real estate investments", Management Decision, Vol. 61 No. 2, pp. 486-505. https://doi.org/10.1108/MD-05-2022-0605

Publisher

:

Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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