IMPROVED AHP-GROUP DECISION MAKING FOR INVESTMENT STRATEGY SELECTION-Reference-Cited by-同舟云学术

IMPROVED AHP-GROUP DECISION MAKING FOR INVESTMENT STRATEGY SELECTION

Published:2012-06-29 Issue:2 Volume:18 Page:299-316
ISSN:2029-4913
Container-title:Technological and Economic Development of Economy
language:
Short-container-title:

Author:

Wu Wenshuai¹,Kou Gang¹,Peng Yi¹,Ergu Daji²

Affiliation:

1. School of Management and Economics, University of Electronic Science and Technology of China, 610054 Chengdu, China

2. Southwest University for Nationalities, 610200 Chengdu, China

Abstract

Investment strategy selection relies heavily on personal experience and behavior. This paper proposes an improved Analytical Hierarchy Process-group decision making (IAHP-GDM) model to reduce investment risk. This model applies the method of least squares to adjust group decision matrix in order to satisfy the property of positive reciprocal matrix in AHP. In addition, five experts from related fields are invited to evaluate investment risk that takes group wisdom to eliminate personal bias. An empirical study is conducted to compare the proposed model to AHP for group decision making model. The results show that the IAHP-GDM model is not only accurate and effective, but also consistent with realistic investment environment.

Publisher

Vilnius Gediminas Technical University

Subject

Finance

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