Affiliations: School of Business, Central South University, Changsha, China
Correspondence:
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Corresponding author. Junhua Hu, School of Business, Central South University, Changsha 410083, China. E-mail: hujunhua@csu.edu.cn.
Abstract: The long payback period for medical care products prevents investors from immediately recognizing risks arising throughout the entire period. To avoid risk loss, delay decision should be introduced to investment decision. In this study, we illustrate investment decision from the view of three-way group decisions. Linguistic scale is widely used during assessment, but the randomness and fuzziness of linguistic information are ignored. To cover these defects, this study introduces cloud to three-way group decisions and further extends cloud to medical care product investment decision in which the weights of experts are unknown. In our proposed model, the loss functions and conditional probability described by linguistic values in decision theoretic rough sets are converted to clouds, which can handle the fuzziness and randomness of linguistic information. The corresponding three-way decision rules are also derived from a cloud perspective. In addition, we define a new derivation degree based on the score function of cloud to determine the weights of experts in three-way group decisions. To validate the feasibility of our model, comparisons with the existing model are presented.
Keywords: Three-way group decisions, linguistic assessment, cloud, decision theoretic rough sets
