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Application and Development of a Fuzzy Analytic Hierarchy Process within a Capital Investment Study

Tang, Yu-Cheng and Beynon, Malcolm James 2005. Application and Development of a Fuzzy Analytic Hierarchy Process within a Capital Investment Study. Journal of Economics and Management 1 (2) , pp. 207-230.

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Abstract

Capital budgeting as a decision process is among the most important of all management decisions. The importance (consequents) of the subsequent outcome may bring a level of uncertainty to the judgement-making process by the decision maker(s) in the form of doubt, hesitancy, and procrastination. This study considers one such problem, namely the selection of the type of fleet car to be adopted by a small car rental company, a selection that accounts for a large proportion of the company¡¦s working capital. With a number of criteria to consider, a fuzzy analytic hierarchy process (FAHP) analysis is undertaken to accommodate the inherent uncertainty. Developments are made to the FAHP method utilised to consider the preference results with differing levels of precision in the pairwise judgements made.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Biosciences
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Uncontrolled Keywords: Capital budgeting; degree of fuzziness; fuzzy analytic hierarchy process; sensitivity analysis; uncertainty
Publisher: College of Business, Feng Chia University, Taiwan
ISSN: 1819-0917
Related URLs:
Last Modified: 04 Jun 2017 04:25
URI: http://orca.cf.ac.uk/id/eprint/38646

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