Reports from Southern Taiwan University of Science and Technology Provide New Insights into Risk Management (A Weighted Centroids Approach Based Trapezoidal Interval Type-2 Fuzzy Topsis Method for Evaluating Agricultural Risk Management Tools): Risk Management

2023 SEP 04 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A new study on Risk Management is now available. According to news reporting originating from Tainan, Taiwan, by NewsRx correspondents, research stated, “This study proposes a trapezoidal interval type-2 fuzzy TOPSIS method to evaluate agricultural risk management tools. The weighted centroids based on AHP is used in the proposed method to defuzzify the fuzzy weighted ratings of each alternative versus each criterion.”

Financial support for this research came from National Science and Technology Council, Taiwan.

Our news editors obtained a quote from the research from the Southern Taiwan University of Science and Technology, “By this way, this method considers all centroid values of the upper and lower membership functions and uses the weight as a parameter to consider the relative importance of controid values of the upper and lower membership functions. Additionally, the left and the right upper membership function and lower membership function of the multiplication of two positive trapezoidal IT2FNs can be developed based on the & alpha;-cuts. The proposed method is applied to help farmers compare agricultural risk management tools and select the most suitable one. This is the first study using fuzzy decision-making methods to help farmers evaluate agricultural risk management tools. To show the proposed method’s feasibility, a numerical example is displayed.”

According to the news editors, the research concluded: “Finally, some comparisons are made to show the advantages of the proposed method, and an experiment is conducted to show the robustness of the proposed method.”

This research has been peer-reviewed.

For more information on this research see: A Weighted Centroids Approach Based Trapezoidal Interval Type-2 Fuzzy Topsis Method for Evaluating Agricultural Risk Management Tools. Soft Computing, 2023. Soft Computing can be contacted at: Springer, One New York Plaza, Suite 4600, New York, Ny, United States.

The news editors report that additional information may be obtained by contacting Ta-Chung Chu, Southern Taiwan University of Science and Technology, Dept Ind Management & Informat, Tainan, Taiwan.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s00500-023-08953-9. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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