Advertisement

Application of the Combined State Concept to Behavioral Investment Decisions Under Interval-Valued Information

  • Khatira J. DovlatovaEmail author
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 896)

Abstract

Investment decisions are characterized by behavioral issues and imperfect relevant information. It is needed to take into account behavior of decision maker that depends on states of economy in such probability. Application of the combined states approach for investment and sensitivity analysis can easily illustrate the opportunities of the proposed work. We used interval-valued probability in this paper.

Keywords

Behavioral decision making Combined states Investment problem Interval-valued information Choquet integral Joint probability 

References

  1. 1.
    Tversky, A., Kahneman, D.: Advances in prospect theory: cumulative representation of uncertainty. J. Risk Uncertain. 5(4), 297–323 (1992)CrossRefGoogle Scholar
  2. 2.
    Wise, B.P., Henrion, M.: A framework for comparing uncertain inference systems to probability. In: Kanal, L.N., Lemmer, J.F. (eds.) Uncertainty in Artificial Intelligence, pp. 69–83. Elsevier Science Publishers, Amsterdam (1986)CrossRefGoogle Scholar
  3. 3.
    Ergu, D., Kou, G.: Questionnaire design improvement and missing item scores estimation for rapid and efficient decision making. Ann. Oper. Res. 197(1), 5–23 (2002)MathSciNetCrossRefGoogle Scholar
  4. 4.
    Schmeidler, D.: Subjective probability and expected utility without additivity. Econometrica 57(3), 571–587 (1989)MathSciNetCrossRefGoogle Scholar
  5. 5.
    Kou, G., Lu, Y., Peng, Y., Shi, Y.: Evaluation of classification algorithms using MCDM and rank correlation. Int. J. Inf. Technol. Decis. Making 11(1), 197–225 (2012)CrossRefGoogle Scholar
  6. 6.
    Guo, P., Tanaka, H.: Decision making with interval probabilities. Eur. J. Oper. Res. 203, 444–454 (2010)MathSciNetCrossRefGoogle Scholar
  7. 7.
    von Neumann, J., Morgenstern, O.: Theory of Games and Economic Behaviour. Princeton University Press, Princeton (1944)zbMATHGoogle Scholar
  8. 8.
    Compte, O., Postlewaite, A.: Mental processes and decision making, Working paper, Yale University, New Haven, USA (2009)Google Scholar
  9. 9.
    Ghirardato, P., Maccheroni, F., Marinacci, M.: Differentiating ambiguity and ambiguity attitude. J. Econ. Theory 118, 133–173 (2004)MathSciNetCrossRefGoogle Scholar
  10. 10.
    Aliev, R.A.: Uncertain Computation-Based on Decision Theory. World Scientific, Singapore (2018)CrossRefGoogle Scholar
  11. 11.
    Aliev, R.A., Pedrycz, W., Fazlollahi, B., Huseynov, O.H., Alizadeh, A.V., Guirimov, B.G.: Fuzzy logic-based generalized decision theory with imperfect information. Inf. Sci. 189, 18–42 (2011)MathSciNetCrossRefGoogle Scholar
  12. 12.
    Williamson, R.C.: Probabilistic arithmetic. Ph.D. dissertation, University of Queensland, Australia (1989). http://theorem.anu.edu.au/williams/papers/thesis300dpi.ps
  13. 13.
    Brafman, R.I., Tennenholz, M.: Modeling agents as qualitative decision makers. Artif. Intell. 94(1–2), 217–268 (1997)MathSciNetCrossRefGoogle Scholar
  14. 14.
    El-Ghamrawy, S.M., Eldesouky, A.I.: An agent decision support model based on granular rough model. Int. J. Inf. Technol. Decis. Making 11(4), 793–820 (2012)CrossRefGoogle Scholar
  15. 15.
    Schmeidler, D.: Subjective probability and expected utility without additivity. Econometrita 57(3), 571–587 (1989)MathSciNetCrossRefGoogle Scholar
  16. 16.
    Wang, Z., Wang, W.: Extension of lower probabilities and coherence of belief measures. Lecture Notes in Computer Science, vol. 945, pp. 62–69 (1995)Google Scholar
  17. 17.
    Peng, Y., Kou, G., Wang, G., Wu, W.: Ensemble of software defect predictors: an AHP based evaluation method. Int. J. Inf. Technol. Decis. Making 10(1), 187–206 (2011)CrossRefGoogle Scholar
  18. 18.
    Shoham, Y., Cousins, S.B.: Logics of mental attitudes in AI: a very preliminary survey. In: Lakemeyer, G., Nebel, B. (eds.) Foundations of Knowledge Representation and Reasoning. Springer, Heidelberg, pp. 296–309 (1994)CrossRefGoogle Scholar

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Azerbaijan State Oil and Industry UniversityBakuAzerbaijan
  2. 2.Georgia State UniversityAtlantaUSA

Personalised recommendations