Paper Info
Title
A consensus facilitation model based on experts' weights for investment strategy selection.
Abstract
In this paper, we investigate group decision-making in a multi-criteria complex environment using an analytical hierarchy process (AHP) seeking to solve the problem of how to effectively aggregate individual preferences to reach a group consensus. Currently, the two methods considered most useful for aggregating individual preferences are the aggregation of individual judgments (AIJ) and the aggregation of individual priorities (AIP). These two aggregation methods involve two independent stages, which disconnect the processes from each other, and the relationship between the two has not yet been researched. Besides, the authorities of different experts can vary, as they are restricted by the individuals' expertise and experiences as well as the complexity of real-world applications. In this article, a new consensus facilitation model for AHP group decision-making that takes into account experts' weights, called EWAHP-GDM, is established to address these aspects. In this model, two aggregation methods are unified and integrated in group decision-making with AHP. We present the quantification steps for the experts' weights and conduct an empirical analysis to verify our model by comparing it with four classic models/methods. The numerical results demonstrate that our model can provide effective investment strategy selection in investment decision-making.
Year
DOI
Venue
2018
10.1080/01605682.2017.1398203
JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY
Keywords
Field
DocType
Multi-criteria group decision-making,analytical hierarchy process,experts' weights,investment decision-making
Facilitation,Computer science,Investment strategy,Analytic hierarchy process,Management science
Journal
Volume
Issue
ISSN
69
9
0160-5682
Citations 
PageRank 
References 
1
0.35
22
Authors
3
Name
Order
Citations
PageRank
Wenshuai Wu1864.01
Gang Kou22527191.95
Yi Peng3130378.20