Performance measurement using linguistic terms in group decision-making

Kaung-Hwa Chen, Chia-Chung Chan and Yung-Ming Shiu

International Journal of Management and Decision Making, 2006, vol. 7, issue 4, 438-453

Abstract: Due to their convenience, there is an increasing tendency towards the use of verbal terms by decision makers. In fact, verbal models have been extensively employed in decision systems. This paper presents a multi-person verbal model that focuses mainly on the behaviour of decision makers. We propose a systematic procedure to quantify the effects of their behaviour on the weights of verbal terms which cannot be analysed using statistical methods. An example concerning the aggregation of share analyst opinions on share recommendations is presented in this paper to show how the proposed model works. Also, the performance of the shares recommended by analysts is evaluated.

Keywords: aggregation function; group decision making; linguistic terms; performance measurement; verbal model; share analyst opinions; share recommendations; fuzzy sets; fuzzy logic. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmdma:v:7:y:2006:i:4:p:438-453

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