Chinese Family Farm Business Risk Assessment Using a Hierarchical Hesitant Fuzzy Linguistic Model

Yu Mou and Xiaofeng Li ()
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Yu Mou: Business School, Sichuan University, Chengdu 610065, China
Xiaofeng Li: Business School, Sichuan University, Chengdu 610065, China

Mathematics, 2024, vol. 12, issue 14, 1-14

Abstract: Chinese family farms are continuously expanding; they are also facing various business risks that lead to a shorter lifespan. This paper constructed a family farm business risk assessment model that combined a hesitant fuzzy linguistic term sets (HFLTS) model with a hesitant fuzzy weighted average (HFWA) operator. On the basis of the factor analysis, this study built a family farm indicator system that included the natural, technical, market, policy, society, and management risk. The HFLTS was used for the assessment of weights in pairwise comparison matrices, and the HFWA operator was used as an aggregation operator to calculate the business risk score of family farms. For our case study, a method comparison analysis was also performed to check the validity of the results obtained by our risk assessment model.

Keywords: family farms; business risk; risk assessment; HFLTS; HFWA (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2024
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