Title: Group decision-making within capital investment: a Fuzzy Analytic Hierarchy Process approach with developments

Authors: Yu-Cheng Tang, Malcolm J. Beynon

Addresses: National Changhua University of Education, 1 Jin Der Road, Changhua, Taiwan. ' Cardiff Business School, Cardiff University, Aberconay Building, Colum Drive, Cardiff, CF10 3EU, UK

Abstract: In this study, a Fuzzy Analytic Hierarchy Process (FAHP) of a car hire purchasing problem is undertaken, with a group of decision makers involved in the judgements made. Developments on an existing FAHP method are exposited, including the sensitivity of the results when there is variation in the degree of fuzziness associated with the decisions made. The results presented further the understanding of the degree of fuzziness employed in the analysis, which directly attempts to model the inherent uncertainty, and incompleteness, in the specific preference judgements made.

Keywords: capital budgeting investment; degree of fuzziness; FAHP; fuzzy AHP; analytical hierarchy process; group decision making; sensitivity analysis; car hire purchasing; uncertainty modelling.

DOI: 10.1504/IJOR.2009.021619

International Journal of Operational Research, 2009 Vol.4 No.1, pp.75 - 96

Published online: 30 Nov 2008 *

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