RANK REVERSAL IN ECONOMIC DECISION MAKING

Economic decision making is often based on a sequence of ranking alternatives to ensure reasonable decisions. Cases of rank reversals, in which the order of preference of choices is altered by the introduction or removal of options, present important issues. This study examines the occurrence of degree of change characterized by uncertainty in economic parameters in environment Z. The study examines the causes of rate fluctuations and their implications for economic theory and practice using advanced decision-making models and simulations The findings show that rank change in environment Z is not only a theoretical irregularity, but also a real concern that can lead to bad economic outcomes. This study presents a relatively low-complexity, theoretically driven, and comprehensive method to decision-making under bimodal uncertainty, as represented by Z-numbers. The suggested technique for making decisions is based on the consistency-driven preferences creation method, and the eigenvector determination method of Z-number valued matrixes. The study concludes with recommendations to avoid rate-shifting in economic decision-making, emphasizing the need for vigorous modeling approaches and sensitivity analysis. The recommended method's correctness and viability are demonstrated with an numerical example using Z-lab tool created for calculation of Z-numbers and sets. Keywords: Z-number, economic decision making, consistent preferences.