Optimal βk-stable interval in VPRS-based group decision-making : A further application

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journal

8 Scopus Citations
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Author(s)

  • Gang Xie
  • Shouyang Wang
  • K. K. Lai

Related Research Unit(s)

Detail(s)

Original languageEnglish
Pages (from-to)13757-13763
Journal / PublicationExpert Systems with Applications
Volume38
Issue number11
Publication statusPublished - Oct 2011

Abstract

This study extends the extant research on use of variable precision rough set (VPRS) for group decision-making (GDM), where the optimal βk-stable interval is derived for the best group consensus. Firstly, we introduce the basic concepts a VPRS model encompasses, and the approach of VPRS-based GDM. Next, using a mathematical programming approach, we derive the optimal βk-stable interval for DMk. Then, an application in petroleum project investment risk management, including risk-based project selection and risk ranking, is investigated. The results suggest that βk-stable intervals have significant impacts on risk management. © 2011 Elsevier Ltd. All rights reserved.

Research Area(s)

  • βk-Stable interval, Group consensus, Petroleum investment, Risk management, Variable precision rough set

Citation Format(s)

Optimal βk-stable interval in VPRS-based group decision-making : A further application. / Xie, Gang; Wang, Shouyang; Lai, K. K.

In: Expert Systems with Applications, Vol. 38, No. 11, 10.2011, p. 13757-13763.

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journal