Open AccessA summary of grey forecasting and relational models and its applications in marine economics and management
Author(s) -
Xuemei Li,
Yun Cao,
Junjie Wang,
Yaoguo Dang,
Kedong Yin
Publication year - 2019
Publication title -
marine economics and management
Language(s) - English
Resource type - Journals
ISSN - 2516-158X
DOI - 10.1108/maem-04-2019-0002
Subject(s) - grey relational analysis , grey literature , scope (computer science) , originality , computer science , operations research , management science , data science , engineering , economics , sociology , political science , social science , qualitative research , mathematical economics , medline , law , programming language
Purpose Research on grey systems is becoming more sophisticated, and grey relational and prediction analyses are receiving close review worldwide. Particularly, the application of grey systems in marine economics is gaining importance. The purpose of this paper is to summarize and review literature on grey models, providing new directions in their application in the marine economy. Design/methodology/approach This paper organized seminal studies on grey systems published by Chinese core journal database – CNKI, Web of Science and Elsevier from 1982 to 2018. After searching the aforementioned database for the said duration, the authors used the CiteSpace visualization tools to analyze them. Findings The authors sorted the studies according to their countries/regions, institutions, keywords and categories using the CiteSpace tool; analyzed current research characteristics on grey models; and discussed their possible applications in marine businesses, economy, scientific research and education, marine environment and disasters. Finally, the authors pointed out the development trend of grey models. Originality/value Although researches are combining grey theory with fractals, neural networks, fuzzy theory and other methods, the applications, in terms of scope, have still not met the demand. With the increasingly in-depth research in marine economics and management, international marine economic research has entered a new period of development. Grey theory will certainly attract scholars’ attention, and its role in marine economy and management will gain considerable significance.