Solution of interval-valued matrix games using intuitionistic fuzzy optimisation technique: an effective approach (Q2073518)

Summary: In most of the cases in the real world scenario, there are many situations where the payoffs of a matrix game may vary within specific ranges and may be considered as interval numbers. In this paper, we developed an effective solution concept of the interval-valued matrix game using intuitionistic fuzzy optimisation technique (IFOT) with nonlinear membership and non-membership functions. In this proposed approach, we first convert the formulated game problem into a deterministic model by splitting the single interval type objective function into multi-objective functions. Then, IFOT with nonlinear membership and non-membership functions is used to solve the reduced model. Finally, we consider one numerical example to illustrate the methodology. A comparative study implies the fact that the proposed approach gives a better result and is more effective than the results obtained previously by the existing methods.