Abstract
Taking into account the limitations of the single weighting method presently used for the environmental risk evaluation of overseas mining investment, an improved extension evaluation method based on game theory was developed. The method was then applied to real data from the Philippines and used to establish the congener element object and classical domain of the environmental risk of mining investment in the Philippines, based on extension matter element theory. The optimal index weights, based on a balance of subjective and objective results, were obtained from game theory, the analytic hierarchy process, and entropy weight theory. This enabled calculation of the association function values of evaluation indexes in the Philippines and the environmental risk level of overseas mining investment. Finally, given the weighting and association function values, the environmental risk level of mining investment in the Philippines was determined to be level II (higher risk). These results show that the proposed model is effective for evaluating the environmental risk of overseas mining investment.
Highlights
Taking into account the limitations of the single weighting method presently used for the environmental risk evaluation of overseas mining investment, an improved extension evaluation method based on game theory was developed
To solve these contradictory and incompatible problems, extension matter element theory studies the laws and methods to solve the problem of contradiction from both qualitative and quantitative aspects by the transformation and calculation of the matter element; it is very relevant to evaluate the nonlinear, time-varying and uncertainty factors influencing the risk of overseas mining investments[27,28,29,30]
The index weight is a difficult problem in the application of the extension matter element theory for the risk analysis of overseas mining investment, and it directly affects the accuracy of the final judgement
Summary
Taking into account the limitations of the single weighting method presently used for the environmental risk evaluation of overseas mining investment, an improved extension evaluation method based on game theory was developed. Objective risk evaluation of the investment environment of the host country is important to mining companies[6,7,8,9,10,11,12]. It is difficult to obtain the specific value of the risk of overseas mining investment under the changing conditions of each factor.
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