Finding a promising venture capital project with todim under probabilistic hesitant fuzzy circumstance

TL;DR

This paper extends the TODIM decision-making method to probabilistic hesitant fuzzy environments to better assist venture capitalists in uncertain, risk-averse investment decisions, validated through a case study.

Contribution

It introduces a novel TODIM approach incorporating probabilistic hesitant fuzzy information for venture capital project selection under uncertainty.

Findings

Proposed method effectively handles uncertain, hesitant decision data.

Case study confirms the method's feasibility and validity.

Outperforms existing fuzzy decision-making approaches.

Abstract

Considering the risk aversion for gains and the risk seeking for losses of venture capitalists, the TODIM has been chosen as the decision-making method. Moreover, group decision is an available way to avoid the limited ability and knowledge etc. of venture capitalists.Simultaneously, venture capitalists may be hesitant among several assessed values with different probabilities to express their real perceptionbecause of the uncertain decision-making environment. However, the probabilistic hesitant fuzzy information can solve such problems effectively. Therefore, the TODIM has been extended to probabilistic hesitant fuzzy circumstance for the sake of settling the decision-making problem of venture capitalists in this paper. Moreover, due to the uncertain investment environment, the criteria weights are considered as probabilistic hesitant fuzzyinformation as well. Then, a case study has been used to verify the feasibility and validity of the proposed TODIM.Also, the TODIM with hesitant fuzzy information has been carried out to analysis the same case.From the comparative analysis, the superiority of the proposed TODIM in this paper has already appeared.