Consensus based on multiplicative consistent double hierarchy linguistic preferences: venture capital in real estate market
Metadata
Show full item recordEditorial
Vilnius Gediminas Technical University Press
Materia
Group decision making Multiplicative consistency Venture capital Real estate market Consensus
Date
2020Referencia bibliográfica
Gou, X., Liao, H., Wang, X., Xu, Z., & Herrera, F. (2020). Consensus based on multiplicative consistent double hierarchy linguistic preferences: venture capital in real estate market. International Journal of Strategic Property Management, 24(1), 1-23.
Sponsorship
This study was funded by the National Natural Science Foundation of China (Nos. 71571123, 71771155, 71771156 and 71801174), the Major Program of the National Social Science Fund of China (No. 17ZDA092), and the Scholarship from China Scholarship Council (No. 201706240012).Abstract
Based on the Computing with Words (CW), double hierarchy hesitant fuzzy linguistic term set (DHHFLTS) can
be used to express complex linguistic information accurately with two simple linguistic hierarchies. This paper proposes a
group decision making (GDM) model based on multiplicative consistency and consensus with double hierarchy hesitant
fuzzy linguistic preference relations (DHHFLPRs). Firstly, a correlation coefficient of DHHFLTSs is defined based on the
distance measures of double hierarchy hesitant fuzzy linguistic elements (DHHFLEs). Then, a multiplicative consistency
property of DHHFLPRs is investigated, and a consistency checking method and a feedback mechanism-based repairing
algorithm are developed to ensure all DHHFLPRs with acceptable multiplicative consistency. Furthermore, a correlation
measure for DHHFLPRs based on the correlation coefficient of DHHFLTSs is proposed, and a new consensus reaching
method on the basis of the correlation measure is developed, which can be used to fully obtain the consensus degree from
both positive and negative angles. Finally, we make some comparative analyses with other existing consistency checking
and repairing method as well as the consensus reaching approach to illustrate the effectiveness of the proposed method
by a case study concerning the assessment of the venture capital project about real estate market in some cities of China.