A Fuzzy Model of Risk Assessment for Environmental Start-Up Projects in the Air Transport Sector

Volodymyr Polishchuk, Miroslav Kelemen, Beáta Gavurová, Costas Varotsos, Rudolf Andoga, Martin Gera, John Christodoulakis, Radovan Soušek, Jaroslaw Kozuba, Peter Blišťan and Stanislav Szabo
Additional contact information
Volodymyr Polishchuk: Faculty of Information Technologies, Uzhhorod National University, 88000 Uzhhorod, Ukraine
Miroslav Kelemen: Faculty of Aeronautics, Technical University of Kosice, 04121 Kosice, Slovak Republic
Beáta Gavurová: Research and Innovation Centre Bioinformatics, USP TECHNICOM, Technical University of Košice, 040 01 Kosice, Slovak Republic
Costas Varotsos: Department of Physics, National & Kapodistrian University of Athens, GR-15784 Athens, Greece
Rudolf Andoga: Faculty of Aeronautics, Technical University of Kosice, 04121 Kosice, Slovak Republic
Martin Gera: Faculty of Mathematics, Physics and Informatics, Comenius University in Bratislava, Bratislava, 84248 Mlynska Dolina, Slovak Republic
John Christodoulakis: Department of Physics, National & Kapodistrian University of Athens, GR-15784 Athens, Greece
Radovan Soušek: Faculty of Transport Engineering, University of Pardubice, 53210 Pardubice, Czech Republic
Jaroslaw Kozuba: Faculty of Transport, Silesian University of Technology, 44100 Gliwice, Poland
Peter Blišťan: Faculty of Mining, Ecology, Process Control and Geotechnology of Aeronautics, Technical University of Kosice, 04121 Kosice, Slovak Republic
Stanislav Szabo: Faculty of Aeronautics, Technical University of Kosice, 04121 Kosice, Slovak Republic

IJERPH, 2019, vol. 16, issue 19, 1-19

Abstract: The purpose of this paper is to develop a fuzzy model of the risk assessment for environmental start-up projects in the air transport sector at the stage of business expansion. The model developed for the following software will be a useful tool for the risk decision support system of investment funds in financing environmental start-up projects at the stage of market conquest. Developing a quantitative risk assessment for environmental start-up projects for the air transport sector will increase the resilience of making risk decisions about their financing by the investors. In this paper, a set of 21 criteria for assessing the risk of launching environmental start-up projects in the air transport sector were formulated for the first time by presenting inputs in the form of a linguistic risk assessment and the number of credible expert considerations. The fuzzy risk assessment model, based on expert knowledge, uses linguistic variables, reveals the uncertainty of the input data, and displays a risk assessment with linguistic interpretation. The result of the paper is a fuzzy model that is embedded in a generalized algorithm and tested in an example risk assessment of environmental start-up projects in the air transport sector.

Keywords: air transport sector; decision support systems; environmental start-up project; expert systems; expert evaluation; fuzzy model; financial investments; decision-maker (DM); risk assessment (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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