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Probabilistic Hesitant Bifuzzy Set and Its Application in Risk Assessment
Shshank Chaube, Manoj K. Singh, Sangeeta Pant, Anuj Kumar, Mrinal Jana, Ketan Kotecha and Ajith Abraham
In real-world issues, randomness and imprecision are frequent characteristics. This paper introduces the idea of the Probabilistic Hesitant Bifuzzy Set (PHBFS), which is a novel paradigm for dealing with aleatory and epistemic uncertainty. The PHBFS offers the depiction of both forms of uncertainty in a single framework and allows for the consideration of more conflicting information. The article outlines the basic operations of PHBFSs and develops a basic aggregation operator for PHBFSs to enable its implementation. The research also provides a basic overview of information fusion processes and suggests a visualization method based on PHBFS entropy to analyze the aggregated information and improve assessment results. The proposed method is applied in the risk assessments, more notably the Arctic geopolitical risk assessment, to show how effectively it works. The merits and drawbacks of the PHBFS framework are thoroughly covered in the article’s conclusion.
Keywords: Probabilistic Hesitant Bifuzzy Set (PHBFS), inform