Shanghai Jiao Tong University

About: Shanghai Jiao Tong University is a education organization based out in Shanghai, Shanghai, China. It is known for research contribution in the topics: Population & Cancer. The organization has 157524 authors who have published 184620 publications receiving 3451038 citations. The organization is also known as: Shanghai Communications University & Shanghai Jiaotong University.

Intuitionistic Fuzzy Analytic Hierarchy Process

Abstract: The intuitionistic fuzzy set has shown definite advantages in handling vagueness and uncertainty over a fuzzy set. Taking the powerfulness of the analytic hierarchy process (AHP) and the fuzzy AHP (FAHP) into account when tackling comprehensive multi-criteria decision-making problems, in this paper, we extend the classic AHP and the FAHP into the intuitionistic fuzzy AHP (IFAHP) in which the preferences are represented by intuitionistic fuzzy values. The IFAHP can be used to handle more complex problems, where the decision maker has some uncertainty in assigning preference values to the objects considered. The paper proposes a new way to check the consistency of an intuitionistic preference relation and then introduces an automatic procedure to repair the inconsistent one. It is worth pointing out that our proposed method can improve the inconsistent intuitionistic preference relation without the participation of the decision maker, and thus, it can save much time and show some advantages over the AHP and the FAHP. This paper also develops a novel normalizing rank summation method to derive the priority vector of an intuitionistic preference relation, on which the priorities of the hierarchy in the IFAHP are derived. The procedure of the IFAHP is given in detail, and an example concerning global supplier development is used to demonstrate our results.

Oil Price Shocks and Stock Market Returns: Evidence from Oil-Importing and Oil-Exporting Countries

Abstract: While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns. In this paper, we address this limitation using a structural VAR analysis. Our main findings can be summarized as follows: First, the magnitude, duration, and even direction of response by stock market in a country to oil price shocks highly depend on whether the country is a net importer or exporter in the world oil market, and whether changes in oil price are driven by supply or aggregate demand. Second, the relative contribution of each type of oil price shocks depends on the level of importance of oil to national economy, as well as the net position in oil market and the driving forces of oil price changes. Third, the effects of aggregate demand uncertainty on stock markets in oil-exporting countries are much stronger and more persistent than in oil-importing countries. Finally, positive aggregate and precautionary demand shocks are shown to result in a higher degree of co-movement among the stock markets in oil-exporting countries, but not among those in oil-importing countries.