Investment Decision Making Based on the Hesitant Fuzzy Preference Envelopment Analysis

Abstract

When the optimal alternatives are given or the number of optimal schemes is limited, how to further improve other non-optimal investment schemes is of great necessity. As a result, this chapter will focus on the hesitant fuzzy envelopment analysis and develop a new hesitant fuzzy investment decision-making method. To achieve this goal, this chapter proposes the hesitant fuzzy envelopment analysis (HFEA) model based on the defined score per unit. Based on the calculated results of the proposed models, the “bad” alternative can be further improved accordingly. Moreover, with respect to the attributes’ difference, this chapter constructs the hesitant fuzzy preference envelopment analysis (HFPEA) model by integrating the investor’s preference relationship. Finally, an illustrative example is provided to demonstrate these approaches and prove their effectiveness and feasibility. It should be noted that the proposed hesitant fuzzy envelopment analysis models also can be applied to rank and select the optimal alternatives.