Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment
The Belt and Road (B&R) Initiative receives enthusiastic response, the aim of which is to develop cooperative partnerships with countries along the routes and build a community of common destiny. So far, Chinese companies have invested in many different countries along the B&R. Generally, t...
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Vilnius Gediminas Technical University
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doaj-5b70473041584e459b3d42aa7901d69e2021-07-02T12:52:33ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332020-10-0121610.3846/jbem.2020.13182Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environmentXiaodi Liu0Zengwen Wang1Shitao Zhang2Yaofeng Chen3School of Mathematics and Physics, Anhui University of Technology, Ma’anshan, China; Key Laboratory of Multidisciplinary Management and Control of Complex Systems of Anhui Higher Education Institutes, Anhui University of Technology, Ma’anshan, ChinaResearching Center of Social Security, Wuhan University, Wuhan, ChinaSchool of Mathematics and Physics, Anhui University of Technology, Ma’anshan, ChinaResearching Center of Social Security, Wuhan University, Wuhan, China The Belt and Road (B&R) Initiative receives enthusiastic response, the aim of which is to develop cooperative partnerships with countries along the routes and build a community of common destiny. So far, Chinese companies have invested in many different countries along the B&R. Generally, the investment decision making problems are characterized by high risk and uncertainty. Then how to make an appropriate investment decision will be a thorny issue. In this paper, probabilistic hesitant fuzzy set (PHFS) is used for handling uncertainty in multiple attribute decision making (MADM), and the criteria importance through intercriteria correlation (CRITIC) approach is extended to obtain attribute weights, no matter whether the weight information is incompletely known or not. Considering that the existing probabilistic hesitant fuzzy distance measures fail to meet the condition of distance measure, a new distance between PHFSs is proposed and applied to investment decision making for countries along the B&R. In the last, comparative analyses are performed to illustrate the advantages of the presented approach. https://journals.vgtu.lt/index.php/JBEM/article/view/13182investment decision makingCRITICattribute weightsdistance measurethe Belt and Roadprobabilistic hesitant fuzzy sets |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Xiaodi Liu Zengwen Wang Shitao Zhang Yaofeng Chen |
spellingShingle |
Xiaodi Liu Zengwen Wang Shitao Zhang Yaofeng Chen Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment Journal of Business Economics and Management investment decision making CRITIC attribute weights distance measure the Belt and Road probabilistic hesitant fuzzy sets |
author_facet |
Xiaodi Liu Zengwen Wang Shitao Zhang Yaofeng Chen |
author_sort |
Xiaodi Liu |
title |
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment |
title_short |
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment |
title_full |
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment |
title_fullStr |
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment |
title_full_unstemmed |
Investment decision making along the B&R using critic approach in probabilistic hesitant fuzzy environment |
title_sort |
investment decision making along the b&r using critic approach in probabilistic hesitant fuzzy environment |
publisher |
Vilnius Gediminas Technical University |
series |
Journal of Business Economics and Management |
issn |
1611-1699 2029-4433 |
publishDate |
2020-10-01 |
description |
The Belt and Road (B&R) Initiative receives enthusiastic response, the aim of which is to develop cooperative partnerships with countries along the routes and build a community of common destiny. So far, Chinese companies have invested in many different countries along the B&R. Generally, the investment decision making problems are characterized by high risk and uncertainty. Then how to make an appropriate investment decision will be a thorny issue. In this paper, probabilistic hesitant fuzzy set (PHFS) is used for handling uncertainty in multiple attribute decision making (MADM), and the criteria importance through intercriteria correlation (CRITIC) approach is extended to obtain attribute weights, no matter whether the weight information is incompletely known or not. Considering that the existing probabilistic hesitant fuzzy distance measures fail to meet the condition of distance measure, a new distance between PHFSs is proposed and applied to investment decision making for countries along the B&R. In the last, comparative analyses are performed to illustrate the advantages of the presented approach.
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topic |
investment decision making CRITIC attribute weights distance measure the Belt and Road probabilistic hesitant fuzzy sets |
url |
https://journals.vgtu.lt/index.php/JBEM/article/view/13182 |
work_keys_str_mv |
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1721329656035016704 |