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Mathematics
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Fuzzy Sets in Business Management, Finance, and Economics
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Fuzzy Sets in Business Management, Finance, and Economics

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Fuzzy Sets, Systems and Decision Making".

Deadline for manuscript submissions: closed (30 December 2021) | Viewed by 39313

Printed Edition Available!
A printed edition of this Special Issue is available here.

Special Issue Editors

Dr. Jorge de Andres Sanchez

E-Mail Website
Guest Editor
Social and Business Research Laboratory, Rovira i Virgili University, Campus Bellissens, Av. de la Universitat 1, 43204 Reus, Spain
Interests: fuzzy sets; fuzzy data analysis; actuarial modeling; social inequality policies
Special Issues, Collections and Topics in MDPI journals
Dr. Laura González-Vila Puchades

E-Mail Website
Guest Editor
Department of Mathematics for Economics, Finance and Actuarial Science, University of Barcelona, Av. Diagonal 690, 08034 Barcelona, Spain
Interests: fuzzy set theory applications on finance and insurance; actuarial and uncertainty modeling
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Since the publication of Lotfi A. Zadeh’s seminal paper “Fuzzy Sets” in 1965 in the journal Information and Control, there has been a constant growth in theoretical developments and practical applications of fuzzy set theory and related mathematical tools. These tools have been widely applied, both in industry and academic research, to decision making and economics due to their versatility. On the one hand, they can efficiently represent and handle uncertain and vague information as subjective judgements, non-precise observations on variables or ill-defined relations between variables. On the other hand, they make implementing computations or identifying patterns in data much easier. To do so, fuzzy set theory provides a lot of mathematical techniques in fields such as expert systems, soft computing, data analysis, mathematical programming or multiple criteria decision making. Asset pricing, portfolio selection, actuarial modeling or capital budgeting problems are some examples of practical applications in these fields. This Special Issue provides a platform for researchers from academia and industry to present their novel and unpublished works in the domain of applied developments of fuzzy sets and related methodologies to business, financial, and economic analysis. This will help to foster future research in the emerging fields of economics and social sciences.

Dr. Jorge de Andres Sanchez
Dr. Laura González-Vila Puchades
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Mathematics is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • fuzzy reasoning
  • soft computing
  • fuzzy data analysis
  • mathematical programming
  • multiple criteria decision making
  • expert systems
  • fuzzy neural systems
  • fuzzy game theory
  • intuitionistic and neutrosophic sets
  • fuzzy modeling in economics
  • business management and finance

Published Papers (15 papers)

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Research

22 pages, 356 KiB  
Article
Constructing the Audit Risk Assessment by the Audit Team Leader When Planning: Using Fuzzy Theory
by Luis Porcuna-Enguix, Elisabeth Bustos-Contell, José Serrano-Madrid and Gregorio Labatut-Serer
Mathematics 2021, 9(23), 3065; https://0-doi-org.brum.beds.ac.uk/10.3390/math9233065 - 28 Nov 2021
Cited by 5 | Viewed by 4031
Abstract
The aim of this study is to construct the assessment of the expected audit risk by the audit team leader (ATL) during the planification phase of the audit. The ATL plays an important role within the audit, and even more so regarding small [...] Read more.
The aim of this study is to construct the assessment of the expected audit risk by the audit team leader (ATL) during the planification phase of the audit. The ATL plays an important role within the audit, and even more so regarding small and medium-sized (SME) audit firms. The audit risk assessment is critical as relying more (less) on internal controls implemented by the client leads to performing less (more) substantive audit procedures. This is determined by the ATL based on their professional judgement and previous experience. The use of fuzzy theory has powerful potential into the audit arena, as the audit risk assessment (outcome) is critically related to the auditors’ judgement and perception. We argue that ATL characteristics are core conditions in determining the audit risk assessment when planning. Using hand-collected and private data from Spanish SME audit firms, we find that a comprehensive set of conditions must be given for perceived high audit risk. The results indicate that female and inexperienced ATLs planning the audit of indebted firms with high proportions of capital assets, less profitability, and with a larger board sizes, as they are expected to have bad internal control. The same conditions are met when expecting errors, as well as shorter audit tenures. Finally, conditions such as the ATL’s experience gains importance in expecting irregularities. This paper extends our understanding of the role of ATL characteristics on the audit risk assessment when planning and raising awareness on studying SME audit firm behavior. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
24 pages, 1955 KiB  
Article
A Multidimensional Fuzzy Quality Function Deployment Design for Brand Experience Assessment of Convenience Stores
by Tsuen-Ho Hsu and Ling-Zhong Lin
Mathematics 2021, 9(20), 2565; https://0-doi-org.brum.beds.ac.uk/10.3390/math9202565 - 13 Oct 2021
Cited by 1 | Viewed by 1684
Abstract
In the past, few studies have explored brand attachment and how to deliver the content of a strategic management program through brand experience. The purpose of this study is to construct an integrated model of consumer brand attachment and brand experience. It also [...] Read more.
In the past, few studies have explored brand attachment and how to deliver the content of a strategic management program through brand experience. The purpose of this study is to construct an integrated model of consumer brand attachment and brand experience. It also applies the fuzzy quality function deployment (FQFD) method to develop a value competitive strategy model of convenience stores. The respondents were split across two stages. In the first stage, 265 consumers were surveyed on the importance of brand attachment; in the second stage, 38 experts and scholars were invited to evaluate the content of a strategic management program. The results showed that for three convenience store brands, the levels of brand attachment of the young and older customer groups each had their own advantages and must be strengthened. Taking 7-Eleven as a practical implications example, we can learn from the analysis that young customers believe “brand prominence” is the most important factor, followed by “brand passion”, “brand affection”, and “brand–self connection”. As for older customers, the order from most to least important was “brand–self connection”, “brand affection”, “brand prominence”, and “brand passion”. The originality value is that this study extends previous research findings in measuring and building brand attachment frameworks and importance assessments while providing a sound demonstration of enhancement strategy solutions. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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20 pages, 1175 KiB  
Article
Incorporating Fuzzy Logic in Harrod’s Economic Growth Model
by Joan Carles Ferrer-Comalat, Salvador Linares-Mustarós and Ricard Rigall-Torrent
Mathematics 2021, 9(18), 2194; https://0-doi-org.brum.beds.ac.uk/10.3390/math9182194 - 08 Sep 2021
Cited by 6 | Viewed by 1495
Abstract
This paper suggests the possibility of incorporating the methodology of fuzzy logic theory into Harrod’s economic growth model, a classic model of economic dynamics for studying the growth of a developing economy based on the assumption that an economy with only savings and [...] Read more.
This paper suggests the possibility of incorporating the methodology of fuzzy logic theory into Harrod’s economic growth model, a classic model of economic dynamics for studying the growth of a developing economy based on the assumption that an economy with only savings and investment income is in equilibrium when savings are equal to investment. This model was the first precursor to exogenous growth models, which in turn gave rise to endogenous growth models. This article therefore represents a first step towards introducing fuzzy logic into economic growth models. The study concerned considers consumption and savings to depend on income by means of uncertain factors, and investment to depend on the variation of income through the accelerator factor, which we consider uncertain. These conditions are used to determine the equilibrium growth rate of income and investment, as well as the uncertain values for these variables in terms of fuzzy numbers. As a result, the new model is shown to expand the classical model by incorporating uncertainty into its variables. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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15 pages, 1092 KiB  
Article
Pythagorean Membership Grade Aggregation Operators: Application in Financial knowledge
by Fabio Blanco-Mesa, Ernesto León-Castro and Jorge Romero-Muñoz
Mathematics 2021, 9(17), 2136; https://0-doi-org.brum.beds.ac.uk/10.3390/math9172136 - 02 Sep 2021
Cited by 2 | Viewed by 1709
Abstract
This paper presents the Pythagorean membership grade induced ordered weighted moving average (PMGIOWMA) operator with some particular cases and theorems. The main advantage of this new operator is that can include the knowledge, expectation, and aptitude of the decision maker into the Pythagorean [...] Read more.
This paper presents the Pythagorean membership grade induced ordered weighted moving average (PMGIOWMA) operator with some particular cases and theorems. The main advantage of this new operator is that can include the knowledge, expectation, and aptitude of the decision maker into the Pythagorean membership function by using a weighting vector and induced variables. An application in financial knowledge based on a survey conducted in 13 provinces in Boyacá, Colombia, is presented. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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31 pages, 1106 KiB  
Article
Corruption Shock in Mexico: fsQCA Analysis of Entrepreneurial Intention in University Students
by Fernando Castelló-Sirvent and Pablo Pinazo-Dallenbach
Mathematics 2021, 9(14), 1702; https://0-doi-org.brum.beds.ac.uk/10.3390/math9141702 - 20 Jul 2021
Cited by 10 | Viewed by 2529
Abstract
Entrepreneurship is the basis of the production network, and thus a key to territorial development. In this line, entrepreneurial intention has been pointed out as an indicator of latent entrepreneurship. In this article, the entrepreneurial intention of university students is studied from a [...] Read more.
Entrepreneurship is the basis of the production network, and thus a key to territorial development. In this line, entrepreneurial intention has been pointed out as an indicator of latent entrepreneurship. In this article, the entrepreneurial intention of university students is studied from a configurational approach, allowing the study of the combined effect of corruption perception, corruption normalization, gender, university career area, and family entrepreneurial background to explain high levels of entrepreneurial intention. The model was tested with the fsQCA methodology according to two samples of students grouped according to their household income (medium and high level: N = 180; low level: N = 200). Stress tests were run to confirm the robustness of the results. This study highlights the negative impact produced by corruption among university students’ entrepreneurial intention. Furthermore, the importance of family entrepreneurial background for specific archetypes like female, STEM, and low household income students is pointed out, as well as the importance of implementing education programs for entrepreneurship in higher education, and more specifically in STEM areas. Policies focused on facilitating the access to financial resources for female students and low household income students, and specific programs to foster female entrepreneurship, are also recommended. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
25 pages, 2531 KiB  
Article
A Comparative Ranking Model among Mexican Universities Using Pattern Recognition
by Daniel Edahi Urueta, Pedro Lara, Miguel Ángel Gutiérrez, Sergio Gerardo de-los-Cobos, Eric Alfredo Rincón and Román Anselmo Mora
Mathematics 2021, 9(14), 1615; https://0-doi-org.brum.beds.ac.uk/10.3390/math9141615 - 08 Jul 2021
Cited by 2 | Viewed by 1855
Abstract
The evaluation of quality in higher education is today a matter of great importance in most countries because the allocation of resources should be in accordance with the quality of universities. Due to this, there are numerous initiatives to create instruments and evaluation [...] Read more.
The evaluation of quality in higher education is today a matter of great importance in most countries because the allocation of resources should be in accordance with the quality of universities. Due to this, there are numerous initiatives to create instruments and evaluation tools that can offer a quality comparison among institutions and countries, the results of these efforts used to be called international rankings. These rankings include some that are “reputational” or subjective, based on opinion polls applied to groups that, which is estimated, can issue authorized views. There are also “objective” rankings, based on performance indicators, which are calculated from a certain set of empirical data; however, on many occasions these indicators are sponsored by universities with the desire to appear among the best universities and emphasize some characteristics more than others, which makes them untrustworthy and very variable between each other. In this sense, we considered the Comparative Study of Mexican Universities (CSMU), a database of statistical information on education and research of Mexican higher education institutions, this database allows users to be responsible for establishing comparisons and relationships that may exist among existing information items, or building indicators based on their own needs and analysis perspectives (Márquez, 2010). This work develops an unsupervised alternative model of ranking among universities using pattern recognition, specifically clustering techniques, which are based on public access data. The results of the CSMU database are obtained by analyzing 60 universities as a first iteration, but to present the final results UNAM is excluded. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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21 pages, 2999 KiB  
Article
Fuzzy Set Qualitative Comparative Analysis on the Adoption of Environmental Practices: Exploring Technological- and Human-Resource-Based Contributions
by Lucía Muñoz-Pascual, Carla Curado and Jesús Galende
Mathematics 2021, 9(13), 1553; https://0-doi-org.brum.beds.ac.uk/10.3390/math9131553 - 01 Jul 2021
Cited by 2 | Viewed by 2332
Abstract
Our main objective was to analyze which paths can lead to the adoption of environmental practices (PRAC) in firms, for which we developed three original alternative research models. Model 1 involves five sources for the adoption of environmental practices: human resource costs, organizational [...] Read more.
Our main objective was to analyze which paths can lead to the adoption of environmental practices (PRAC) in firms, for which we developed three original alternative research models. Model 1 involves five sources for the adoption of environmental practices: human resource costs, organizational learning capability, firm size, manager educational level and manager experience. Model 2 adopts five sources for PRAC: human resource costs, information technology support, firm size, manager educational level and manager experience. Finally, Model 3 adopts six sources for PRAC: human resource costs, organizational learning capability, information technology support, firm size, manager educational level and manager experience. Therefore, Model 1 uses the organizational learning capability for PRAC, Model 2 uses the information technology support for PRAC and Model 3 uses both organizational learning capability and information technology support for PRAC. We used a fuzzy set qualitative comparative analysis on 349 small- and medium-sized Portuguese firms in twelve industrial sectors. The results show that organizational learning capability (OLC) and information technology support (ITS) are important sources for the development of PRAC. In this line, the three research models show that there are different pathways that lead to PRAC. These research models also show pathways that lead to the absence of PRAC. Therefore, the qualitative findings show the relevancy of OLC and ITS to PRAC. In addition, our findings indicate that, by focusing on variables such as OLC, a firm can find more paths that lead to PRAC. Additionally, with the combination of OLC and ITS, it must be taken into account that only developing ITS without OLC is riskier when obtaining PRAC. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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17 pages, 684 KiB  
Article
Evaluation and Selection of the Quality Methods for Manufacturing Process Reliability Improvement—Intuitionistic Fuzzy Sets and Genetic Algorithm Approach
by Ranka Gojković, Goran Đurić, Danijela Tadić, Snežana Nestić and Aleksandar Aleksić
Mathematics 2021, 9(13), 1531; https://0-doi-org.brum.beds.ac.uk/10.3390/math9131531 - 29 Jun 2021
Cited by 6 | Viewed by 1577
Abstract
The aim of this research is to propose a hybrid decision-making model for evaluation and selection of quality methods whose application leads to improved reliability of manufacturing in the process industry. Evaluation of failures and determination of their priorities are based on failure [...] Read more.
The aim of this research is to propose a hybrid decision-making model for evaluation and selection of quality methods whose application leads to improved reliability of manufacturing in the process industry. Evaluation of failures and determination of their priorities are based on failure mode and effect analysis (FMEA), which is a widely used framework in practice combining with triangular intuitionistic fuzzy numbers (TIFNs). The all-existing uncertainties in the relative importance of the risk factors (RFs), their values, applicability of the quality methods, as well as implementation costs are described by pre-defined linguistic terms which are modeled by the TIFNs. The selection of quality methods is stated as the rubber knapsack problem which is decomposed into subproblems with a certain number of solution elements. The solution of this problem is found by using genetic algorithm (GA). The model is verified through the case study with the real-life data originating from a significant number of organizations from one region. It is shown that the proposed model is highly suitable as a decision-making tool for improving the manufacturing process reliability in small and medium enterprises (SMEs) of process industry. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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21 pages, 3282 KiB  
Article
Model of Evaluation and Selection of Expert Group Members for Smart Cities, Green Transportation and Mobility: From Safe Times to Pandemic Times
by Miroslav Kelemen, Volodymyr Polishchuk, Beáta Gavurová, Róbert Rozenberg, Juraj Bartok, Ladislav Gaál, Martin Gera and Martin Kelemen, Jr.
Mathematics 2021, 9(11), 1287; https://0-doi-org.brum.beds.ac.uk/10.3390/math9111287 - 03 Jun 2021
Cited by 21 | Viewed by 3062
Abstract
This paper presents the development of technologies to support the decision-making of local government executives and smart city concept managers in selecting and evaluating the competencies of new members for advisory groups for solving problems that are implemented in safe times in individual [...] Read more.
This paper presents the development of technologies to support the decision-making of local government executives and smart city concept managers in selecting and evaluating the competencies of new members for advisory groups for solving problems that are implemented in safe times in individual areas or in crises, such as pandemics. The reason for developing effective urban transformation strategies and for the transparent selection of independent experts (non-politicians) for policymaking, decision-making, and implementation teams is not only the heterogeneity of smart city dimensions together with the necessary complexity and systems approach, but also the nature of the capacities and tools needed for smart city concepts. The innovative hybrid competency assessment model is based on fuzzy logic and a network for neuro-fuzzy assessment. It is a technological model for evaluating the competencies of specialists, taking into account the influence of human factors on the processes of personnel selection and system management. An innovative web platform named “Smart City Concept Personnel Selection” has been designed, which can be adapted to various users of municipalities or regional institutions for the transparent selection of qualified personnel for effective decision-making and the use of public funds during safe times or emergencies, such as the COVID-19 pandemic. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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17 pages, 1939 KiB  
Article
Fuzzy Techniques Applied to the Analysis of the Causes and Effects of Tourism Competitiveness
by Martha B. Flores-Romero, Miriam E. Pérez-Romero, José Álvarez-García and María de la Cruz del Río-Rama
Mathematics 2021, 9(7), 777; https://0-doi-org.brum.beds.ac.uk/10.3390/math9070777 - 02 Apr 2021
Cited by 6 | Viewed by 2054
Abstract
The aim of this research is to identify and analyze the causes and effects of tourism competitiveness, as well as cause–effect relationships from the perspective of two groups of experts, which are decision makers versus academics/researchers, both from the tourism sector. The purpose [...] Read more.
The aim of this research is to identify and analyze the causes and effects of tourism competitiveness, as well as cause–effect relationships from the perspective of two groups of experts, which are decision makers versus academics/researchers, both from the tourism sector. The purpose is to respond to the question: do decision makers in the tourism sector share the same perspective as academics/researchers regarding the relationship between the causes and effects of tourism competitiveness? The methodology used is the theory of expertons, the theory of forgotten effects and the Hamming distance. It was found that in most cases, the groups of experts share perspective, since their differences are small or non-existent. However, in all the relationships analyzed (cause–effect, cause–cause, and effect–effect), academic experts reported the highest assessment. The greatest difference in opinion is identified in the evaluation of the “Environmental Commitment” and “Tourist Demand” relationship. Decision makers in the tourism sector are ignoring the growing inclination and sensitivity that tourists are adopting towards the environment. It is necessary for the tourism sector to develop and consolidate its commitment to caring for and preserving the environment, which is an element that contributes to a destination’s competitiveness and has two main effects: tourism demand and customer satisfaction. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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23 pages, 8376 KiB  
Article
The Quintuple Helix of Innovation Model and the SDGs: Latin-American Countries’ Case and Its Forgotten Effects
by Luciano Barcellos-Paula, Iván De la Vega and Anna María Gil-Lafuente
Mathematics 2021, 9(4), 416; https://0-doi-org.brum.beds.ac.uk/10.3390/math9040416 - 20 Feb 2021
Cited by 26 | Viewed by 4032
Abstract
The sustainable development of countries is associated with a set of actions that must be implemented in the long term. In this process, society must be a valid partner in the decisions that are made. Studies show the interrelationship between the Sustainable Development [...] Read more.
The sustainable development of countries is associated with a set of actions that must be implemented in the long term. In this process, society must be a valid partner in the decisions that are made. Studies show the interrelationship between the Sustainable Development Goals (SDGs), which increases uncertainty and makes decision-making more difficult. On the other hand, the Quintuple Helix of Innovation Model (QHIM) provides an analytical framework to explain the systems’ interactions. The motivation of the study lies in knowing the relationships between the variables that affect SDGs. The manuscript aims to broaden the discussion on sustainable development and propose two models to support decision making. The first one suggests 20 indicators linked to the QHIM with the SDGs in Latin American countries. The second identifies the forgotten effects through the application of a Fuzzy Logic algorithm. The main contribution is to know these effects and to support decision-making. The research carried out can be classified as applied, with the explanatory objective and the combined approach (quantitative-qualitative), modeling and simulation, and case study methods. The QHIM results indicate that Chile leads the ranking, followed by Brazil, Mexico, Peru, and Colombia. Also, it reveals the importance of correctly identifying cause-effects by seeking harmony between systems. A limitation would be the number of variables used. The study indicates promising lines of research. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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23 pages, 1254 KiB  
Article
Fuzzy Markovian Bonus-Malus Systems in Non-Life Insurance
by Pablo J. Villacorta, Laura González-Vila Puchades and Jorge de Andrés-Sánchez
Mathematics 2021, 9(4), 347; https://0-doi-org.brum.beds.ac.uk/10.3390/math9040347 - 09 Feb 2021
Cited by 5 | Viewed by 2025
Abstract
Markov chains (MCs) are widely used to model a great deal of financial and actuarial problems. Likewise, they are also used in many other fields ranging from economics, management, agricultural sciences, engineering or informatics to medicine. This paper focuses on the use of [...] Read more.
Markov chains (MCs) are widely used to model a great deal of financial and actuarial problems. Likewise, they are also used in many other fields ranging from economics, management, agricultural sciences, engineering or informatics to medicine. This paper focuses on the use of MCs for the design of non-life bonus-malus systems (BMSs). It proposes quantifying the uncertainty of transition probabilities in BMSs by using fuzzy numbers (FNs). To do so, Fuzzy MCs (FMCs) as defined by Buckley and Eslami in 2002 are used, thus giving rise to the concept of Fuzzy BMSs (FBMSs). More concretely, we describe in detail the common BMS where the number of claims follows a Poisson distribution under the hypothesis that its characteristic parameter is not a real but a triangular FN (TFN). Moreover, we reflect on how to fit that parameter by using several fuzzy data analysis tools and discuss the goodness of triangular approximates to fuzzy transition probabilities, the fuzzy stationary state, and the fuzzy mean asymptotic premium. The use of FMCs in a BMS allows obtaining not only point estimates of all these variables, but also a structured set of their possible values whose reliability is given by means of a possibility measure. Although our analysis is circumscribed to non-life insurance, all of its findings can easily be extended to any of the abovementioned fields with slight modifications. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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19 pages, 1080 KiB  
Article
Fuzzy Set Qualitative Comparative Analysis of Factors Influencing the Use of Cryptocurrencies in Spanish Households
by Mario Arias-Oliva, Jorge de Andrés-Sánchez and Jorge Pelegrín-Borondo
Mathematics 2021, 9(4), 324; https://0-doi-org.brum.beds.ac.uk/10.3390/math9040324 - 06 Feb 2021
Cited by 29 | Viewed by 4410
Abstract
This paper assesses the variables influencing the expansion of cryptocurrency (crypto for short) use in households. To carry on the study we apply a consumer-behavior focus and so-called fuzzy set Qualitative Comparative Analysis (fsQCA). In a previous research, that was grounded on Unified [...] Read more.
This paper assesses the variables influencing the expansion of cryptocurrency (crypto for short) use in households. To carry on the study we apply a consumer-behavior focus and so-called fuzzy set Qualitative Comparative Analysis (fsQCA). In a previous research, that was grounded on Unified Theory of Acceptance and Use of Technology (UTAUT) and Partial Least Squares (PLS), we found that main factors to explain the intention to use of cryptos by individuals were performance expectancy (in fact, it was the main factor), effort expectancy and facilitating conditions. We did not found evidences about the relevance of social influence, perceived risk and financial literacy. This study revisits these results by applying fsQCA instead PLS. Empirical research on factors influencing cryto use is relatively scarce due to the novelty of blockchain techs, so the present paper expands the literature on this topic by using an original analytical tool in this context. The main contribution of this paper consists in showing empirically that fsQCA provides a complementary and enriching perspective to interpret data about the use of cryptos. We obtain again that the most relevant factor to explain the intention of using cryptocurrencies is perceived expectancy and that also effort expectancy and facilitation conditions are relevant. But also fsQCA has allowed us discovering that despite social influence, perceived risk and financial literacy were not significant in the PLS model, they impact on the intention to use cryptocurrencies when are combined with other factors. Social influence acts as an “enable factor” for the rest of explanatory variables and it is linked positively with intention to use cryptos. Also financial literacy is relevant because its lack is a sufficient condition for the non-acceptance of that blockchain tech. Likewise we have checked that perceived risk influences the intention of using cryptos. However, this influence may be positive or negative depending of the circumstances. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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25 pages, 1235 KiB  
Article
Assessing Efficiency of Public Poverty Policies in UE-28 with Linguistic Variables and Fuzzy Correlation Measures
by Jorge de Andrés-Sánchez, Angel Belzunegui-Eraso and Francesc Valls-Fonayet
Mathematics 2021, 9(2), 128; https://0-doi-org.brum.beds.ac.uk/10.3390/math9020128 - 08 Jan 2021
Cited by 2 | Viewed by 2504
Abstract
The present study analyzes the efficiency of social expenditure by EU-28 countries within the period 2014–2018 to reduce poverty. The data are provided by programs European Union Statistics on Income and Living Conditions (EU-SILC) and European System of Integrated Social Protection Statistics (ESSPROS) [...] Read more.
The present study analyzes the efficiency of social expenditure by EU-28 countries within the period 2014–2018 to reduce poverty. The data are provided by programs European Union Statistics on Income and Living Conditions (EU-SILC) and European System of Integrated Social Protection Statistics (ESSPROS) of Eurostat. We first calculate the Debreu–Farrell (DF) productivity measure similarly to our previous work, published in 2020, for each EU-28 country and rank these poverty policies (PPPs) on the basis of that efficiency index. We also quantify the intensity of the relationship between efficiency and the proportion that each item of social expending suppose within the overall. When evaluating public policies within a given number of years, we have available a longitudinal set of crisp observations (usually annual) for each embedded variable and country. The observed value of variables for any country for the whole period 2014–2018 is quantified as fuzzy numbers (FNs) that are built up by aggregating crisp annual observations on those variables within that period. To rank the efficiency of PPPs, we use the concept of the expected value of an FN. To assess the relation between DF index and the relative effort done in each type of social expense, we interpret Pearson’s correlation as a linguistic variable and also use Pearson’s correlation index between FNs proposed by D.H. Hong in 2006. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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19 pages, 515 KiB  
Article
Bonferroni Prioritized Aggregation Operators Applied to Government Transparency
by Luis A. Perez-Arellano, Fabio Blanco-Mesa, Ernesto Leon-Castro and Victor Alfaro-Garcia
Mathematics 2021, 9(1), 24; https://0-doi-org.brum.beds.ac.uk/10.3390/math9010024 - 24 Dec 2020
Cited by 14 | Viewed by 2031
Abstract
This article applies the Bonferroni prioritized induced heavy ordered weighted average (OWA) to analyze a series of data and focuses on the Bonferroni average and heavy induced prioritized aggregation operators. The objective of the present work is to present a new aggregation operator [...] Read more.
This article applies the Bonferroni prioritized induced heavy ordered weighted average (OWA) to analyze a series of data and focuses on the Bonferroni average and heavy induced prioritized aggregation operators. The objective of the present work is to present a new aggregation operator that combines the heavy induced prioritized Bonferroni and its formulations and represents the Bonferroni mean with variables that induce an order with vectors that are greater than one. This work develops some extensions using prioritization. The main advantage is that different types of information provided by a group of decision makers to compare real situations are included in this formulation. Finally, an example using the operators to calculate the transparency of the websites of the 32 states of Mexico was performed. The main idea was to visualize how the ranking can change depending on the importance of the five components of the methodology. The main results show that it is possible to detect some important changes depending on the operator and the experts considered. Full article
(This article belongs to the Special Issue Fuzzy Sets in Business Management, Finance, and Economics)
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