Interval-Valued Complex Fuzzy Sets and Its Application to the Malaysian Economy

In this article, the authors introduce two new operations for the interval-valued complex fuzzy set model, and study the fundamental algebraic properties of these new operations. The utility and applicability of the relations of this model is then demonstrated by applying it to an economics problem. The interpretation of this example is provided and supported by real-life incidences that took place in the Malaysian economy in recent years. Lastly, a brief comparative analysis of the IV-CFS model and other similar models are presented.