A Group Consensus Measure for Financial Investments

In this study, we present a novel, fuzzy entropy-based approach to the measurement of consensus in group decision making. We assume that the decision inputs are ‘yes’ or ‘no’ votes of the group members concerning a financial investment. Using a class of fuzzy entropies, we introduce a novel consensus measure and prove that it satisfies six reasonable properties in the case where the decision inputs are dichotomous variables. Next, we present the idea of the so-called group consensus map for financial investments. We show that this construction can be used to characterize the level of consensus among the members of a group concerning financial investments as function of the expected return rate.