Evaluation study on venture investment projects based on intuition trapezoidal fuzzy number and Choquet integral

Abstract

Abstract: A fuzzy multi-criteria decision making method based on intuition trapezoidal fuzzy number and Choquet integral is proposed and the method is further used to the evaluation of venture investment projects. Intuition trapezoidal fuzzy number is introduced to present the expert preference information, Choquet integral is used to integrate the decision matrixes from different experts, and the fuzzy TOPSIS method is applied to construct the decision model; as a result, fuzzy criteria value and ideal solution value are obtained. And then, the distance formula of fuzzy number is used to evaluate the different values between these criteria solutions and ideal solutions, resulted in the pro and con rank of different programs. In the empirical study, taking five venture investment enterprises in the high-level technology development zone as the research subject, the expert evaluation results involving their technical level, market size, product innovation, industry environmental, and government support degree are integrated with intuition trapezoidal fuzzy number. Accordingly, the comprehensive rank based on these five aspects is obtained. With such empirical study, the practicality and feasibility of the built model is further confirmed.

Key words: intuition trapezoidal fuzzy number, Choquet integral, fuzzy TOPSIS, venture investment

CLC Number:

TP393.01

Chen Xiaohong, Hu Wenhua. Evaluation study on venture investment projects based on intuition trapezoidal fuzzy number and Choquet integral[J]. Science Research Management, 2013, (7): 127-135.

References

[1] Brophy D J. Venture capitical investment [A]. Proceedings: Babson Research Conference [C]. Babson College, 1981: 246-280. [2] 刘健钧. 创业投资原理与策略[M]. 中国经济出版社, 2003.Liu J J. Theory and Strategy For VC [M]. China economic press, 2003. [3] 谭颖, 陈晓红. 我国中小企业创业环境的实证研究[J]. 中南财经政法大学学报, 2009(4): 114-119.Tan Y, Chen X H. Empirical study of entrepreneur environment for small and medium sized enterprises in China [J]. Journal of Zhongnan University of Economics and Law, 2009, (4): 114-119. [4] Xu Z S. Group decision making based on multiple types of linguistic preference relations [J]. Information Sciences, 2008, 178(2): 452-467. [5] Tseng M L. Using linguistic preferences and grey relational analysis to evaluate the environment knowledge management capacities [J]. Expert Systems with Applications, 2010b, 37(1): 70-81. [6] Chen S M, Chen J H. Fuzzy risk analysis based on similarity measures between interval -valued fuzzy numbers and interval -valued fuzzy number arithmetic operators [J]. Expert Systems with Applications, 2009, 36(3): 6309-6317. [7] Zhang Q, Gao Q S, Geng J H. New approach to multiple attribute decision making with interval numbers [J]. Journal of Systems Engineering and Electronics, 2008, 19(2): 304-310. [8] 刘秀梅,赵克勤,王传斌. 基于联系数的三角模糊数多属性决策新模型[J]. 系统工程与电子技术,2009,31(10):2399-2403.Liu X M, Zhao K Q, Wang C B. New multiple attribute decision making model with triangular fuzzy numbers based on connection numbers [J]. Systems Engineering and Electronics, 2009,31(10):2399-2403. [9] 陈晓红,阳熹. 一种基于三角模糊数的多属性群决策方法[J]. 系统工程与电子技术, 2008, 30(2): 278-282. [10] Chen X H, Yang X. Multiple attributive group decision making method based on triangular fuzzy numbers [J]. Systems Engineering and Electronics, 2008, 30(2): 278-282. [11] 李荣钧, 赵杰. 模糊环境下的多属性决策分析[J]. 模糊系统与数学, 2002, 16(2): 64-68. [12] Li R J, Zhao J. Multiple attribute decision making in a fuzzy environment [J]. Fuzzy Systems and Mathematics, 2002, 16(2): 64-68. [13] 王坚强. 模糊多准则决策方法研究综述[J]. 控制与决策, 2008, 23(6): 601-606. Wang J Q. Overview on fuzzy multi-criteria decision making approach [J]. Control and Decision, 2008, 23(6): 601-606. [14] 王坚强, 张忠. 基于直觉梯形模糊数的信息不完全确定的多准则决策方法[J]. 控制与决策, 2009, 24(2): 226-230.Wang J Q, Zhang Z. Multi-criteria decision making method with incomplete certain information based on intuitionistic fuzzy number [J]. Control and Decision, 2009, 24(2): 226-230. [15] Xu Z S. Intuitionistic preference relations and their application in group decision making [J]. Information Science, 2007, 177(11): 2363-2379. [16] Sugeno, M. (1974). Theory of fuzzy integral and its application. Doctorial Dissertation, Tokyo Institute of Technology. [17] Tan C Q. A multi-criteria interval-valued intuitionistic fuzzy group decision making with Choquet integral-based TOPSIS [J]. Expert Systems with Applications, 2010. [18] 高岩,周德群,刘晨琛.一种基于Choquet积分的多属性直觉模糊决策方法[J].数学的实践与认识,2009, 39(17): 72-77.Gao Y, Zhou D Q, Liu C C. Approaches to multiple attribute decision making with intuitionistic fuzzy sets based on fuzzy integral [J]. Mathematics in Practice and Theory, 2009, 39(17): 72-77. [19] 谭春桥,马本江.基于语言Choquet积分算子的多属性群决策方法[J].系统工程与电子技术,2010, 32(11): 2352-2355. Tan C Q, Ma B J. Multi-attribute group decision making based on linguistic Choquet integral operator [J]. Systems Engineering and Electronics, 2010, 32(11): 2352-2355. [20] Delgado M, Verdegay J L, Vila M A. Linguistic decision making models [J]. International Journal of Intelligent Systems, 1992, 7(4): 479-492. [21] Fan Z P, Feng B. A multiple attributes decision making method using individual and collaborative attribute data in a fuzzy environment [J]. Information Sciences, 2009, 179: 3603-361.