Fuzzy risk analysis based on ranking generalized fuzzy numbers with different left heights and right heights

In this paper, we present a new method for fuzzy risk analysis based on the proposed new fuzzy ranking method for ranking generalized fuzzy numbers with different left heights and right heights. First, we present a fuzzy ranking method for ranking generalized fuzzy numbers with different left heights and right heights. The proposed method considers the areas of the positive side, the areas of the negative side and the centroid values of generalized fuzzy numbers as the factors for calculating the ranking scores of generalized fuzzy numbers with different left heights and right heights. It can overcome the drawbacks of the existing fuzzy ranking methods. Then, we propose a new method for fuzzy risk analysis based on the proposed fuzzy ranking method, where the evaluating values are represented by generalized fuzzy numbers. The proposed fuzzy risk analysis method provides us with a useful way for fuzzy risk analysis based on generalized fuzzy numbers with different left heights and right heights.

► We present a new method for fuzzy risk analysis by ranking generalized fuzzy numbers.
► First, we present a method for ranking generalized fuzzy numbers.
► It can overcome the drawbacks of the existing fuzzy ranking methods.
► Then, we propose a method for fuzzy risk analysis based on the fuzzy ranking method.
► The proposed method provides us with a useful way for fuzzy risk analysis.