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Crowdfunding project evaluation based on Fermatean fuzzy SAHARA three-way decision method

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Abstract

Crowdfunding is a web-based financing scheme which aims to generate initial capital for startups. Nowadays, there are numerous programs which face the shortage in capital has already launching by crowdfunding. Meanwhile, there are always lots of potential investors who are puzzled by their choices and are thus cannot join them. In this paper, an assessment framework of crowdfunding projects founded on the three-way decision (TWD) is offered to solve the issue. The fuzziness and uncertainty in the evaluation information are the major factors affecting the accuracy of the output and the Fermatean fuzzy sets (FFS) of the proposed model conquers the problem. A Preference Selection Index - Standard Deviation Bayesian method is arranged to determine objective attribute weights with the precise and reliable data. Traditional fuzzy aggregation operators do not perform well in extreme and contradictory information processing situations, and FFS - evidence reasoning methodology (ERM) is proposed to gather messages, while the conditional probability is exported from the similarity metric. Improved FFS objective relative utility function supports TWD classifications and rankings, and the TWD-SAHARA utility function offers non-linear benefits tailored to human psychology. The proposed FF-PSI-SD-ERM-TWD has been utilized on eight crowdsourcing projects, and its effectiveness has been proven by sensitivity analysis and the results comparison.

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Author notes

  1. Jiawen Song and Jianping Fan contributed equally to this work.

Authors and Affiliations

  1. School of Economics and Management, Shanxi University, Taiyuan, 030006, China

    Meiqin Wu, Jiawen Song & Jianping Fan

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  1. Meiqin Wu
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  2. Jiawen Song
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Contributions

MW: visualization, investigation. JS: conceptualization, methodology, software, investigation, formal analysis, writing - original draft. JF: review & editing.

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Correspondence to Jianping Fan.

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Wu, M., Song, J. & Fan, J. Crowdfunding project evaluation based on Fermatean fuzzy SAHARA three-way decision method. Appl Intell 54, 3566–3590 (2024). https://doi.org/10.1007/s10489-024-05334-z

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