Dry Bulk Carrier Investment Selection through a Dual Group Decision Fusing Mechanism in the Green Supply Chain

Shuang Yao, Donghua Yu, Yan Song, Hao Yao, Yuzhen Hu and Benhai Guo
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Shuang Yao: College of Economics and Management, China Jiliang University, Hangzhou 310018, China
Donghua Yu: School of Computer Science and Technology, Harbin Institute of Technology, Harbin 150001, China
Yan Song: College of Economics and Management, Harbin Engineering University, Harbin 150001, China
Hao Yao: College of Economics and Management, Harbin Engineering University, Harbin 150001, China
Yuzhen Hu: College of Economics and Management, Harbin Engineering University, Harbin 150001, China
Benhai Guo: College of Economics and Management, China Jiliang University, Hangzhou 310018, China

Sustainability, 2018, vol. 10, issue 12, 1-19

Abstract: Uncertain linguistic variables and scoring evaluations are two important evaluation mechanisms in the decision making field. Sustainability requirements for ship investment lead to the complexity of influence factors and the decision making process. The uncertain linguistic assessment features a large amount of ambiguity and subjectivity, while the scoring evaluation features high precision and distinct gradations. This paper constructs a criteria system in the green supply chain and proposes a dual group decision fusing mechanism for integrating the linguistic variable and scoring evaluation into a unified evaluation term. A hierarchical cloud of linguistic variable terms is constructed based on scoring via a reverse cloud generator, and then, the ship investment linguistic terms are transformed into prospect values. In addition, the consistency and investment selection performance are measured after aggregating the individual decision matrices for group decision making. The empirical research results on the selection of dry bulk carriers for investment show that dual group decision fusing mechanisms could effectively improve the consistency, decision making efficiency, and accuracy of dry bulk ship investment choices and reduce the cost of feedback adjustment for group decisions. In comparison with the trapezoidal fuzzy and fuzzy TOPSIS methods of group decision making, the proposed method performs better when there are a large number of alternatives.

Keywords: group decision; green supply chain; cloud model; prospect theory; fusion mechanism (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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