A Fuzzy Entropy-Based Group Consensus Measure for Financial Investments
This study presents a novel, fuzzy entropy-based approach to the measurement of consensus in group decision making. Here, the basic assumption is that the decision inputs are the ‘yes’ or ‘no’ votes of group members on a financial investment that has a particular expected rate of return. In this pap...
Elmentve itt :
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| Dokumentumtípus: | Cikk |
| Megjelent: |
2024
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| Sorozat: | MATHEMATICS
12 No. 1 |
| Tárgyszavak: | |
| doi: | 10.3390/math12010004 |
| mtmt: | 34444032 |
| Online Access: | http://publicatio.bibl.u-szeged.hu/35641 |
| Tartalmi kivonat: | This study presents a novel, fuzzy entropy-based approach to the measurement of consensus in group decision making. Here, the basic assumption is that the decision inputs are the ‘yes’ or ‘no’ votes of group members on a financial investment that has a particular expected rate of return. In this paper, using a class of fuzzy entropies, a novel consensus measure satisfying reasonable requirements is introduced for a case where the decision inputs are dichotomous variables. It is also shown here that some existing consensus measures are just special cases of the proposed fuzzy entropy-based consensus measure when the input variables are dichotomous. Next, the so-called group consensus map for financial investments is presented. It is demonstrated that this construction can be used to characterize the level of consensus among the members of a group concerning financial investments as a function of the expected rate of return. Moreover, it is described how a consensus map can be constructed from empirical data and how this map is connected with behavioral economics. |
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| Terjedelem/Fizikai jellemzők: | 1-18 |
| ISSN: | 2227-7390 |