Journal
FINANCIAL INNOVATION
Volume 2, Issue 1, Pages -Publisher
SPRINGER
DOI: 10.1186/s40854-016-0027-8
Keywords
Group decision-making; Analytic hierarchy process; Real estate investment; Decision analysis
Funding
- Soft Science Research Project of Jiangxi Province [20161BBA10081]
- Scientific research start-up project [2003414092]
- Science and technology project of Department of Education of Jiangxi Province [GJJ150512]
- Major project of Education Science Thirteen Five Planning Project of Jiangxi Province [16ZD019]
- National Natural Science Foundation of China [71433001]
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Background: Individual decision-making largely influences the effectiveness of decisions and benefits of investments. Methods: In this article, a consensus model for group decision-making (GDM), based on the analytic hierarchy process (AHP), is developed to gather group ideas and analyze the real estate investment environment under multi-criteria problems. Twelve evaluation procedures of the developed model, which increase the convergence of the opinions of multiple experts, are proposed. Results: An empirical case about the real estate investment environment is applied to certify the feasibility of this developed model. Conclusions: the evaluation procedures have been fully observed with several rounds of discussions, and have manifested the experiences of experts. Besides, the evaluation results are in accordance with real-world situations, which demonstrates that our developed model is a feasible analysis tool for real estate investors to obtain better profits and lower risk.
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