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Computational Intelligence Techniques for Risk Management in Decision Making

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Handbook on Decision Making

Part of the book series: Intelligent Systems Reference Library ((ISRL,volume 33))

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Abstract

Risk management involves assessing risks, evaluating alternatives and implementing solutions and it is a problem of multicriteria decision making (MCDM), where retrofit alternatives are predefined and the decisionmaker(s) (DMs) evaluate them based on multiple criteria. Risk managers choose from a variety of methods to minimize the effects of accidental loss upon their organizations. In the literature it is possible to meet many techniques used for risk management. Besides of these techniques computational intelligence techniques have been used for risk management in decision making process in a wide area. The intelligence can be defined as the capability of a system to adapt its behavior to meet its goals in a range of environments and the life process itself provides the most common form of intelligence. Computational intelligence (CI) can be defined as the study of the design of intelligent agents. In this chapter the CI techniques for risk management in decision making is given with a wide literature review and a detailed classification of the existing methodologies is made. The direction of CI for risk management in the future is evaluated.

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Author information

Authors and Affiliations

  1. Department of Industrial Engineering, Yıldız Technical University, Yıldız, 34349, Istanbul, Turkey

    İhsan Kaya

  2. Department of Industrial Engineering, Istanbul Technical University, Maçka, 34367, Istanbul, Turkey

    Cengiz Kahraman

  3. Department of Industrial Engineering, Karadeniz Technical University, 61080, Trabzon, Turkey

    Selçuk Çebi

Authors
  1. İhsan Kaya
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  2. Cengiz Kahraman
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  3. Selçuk Çebi
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Editor information

Editors and Affiliations

  1. University of Technology, Sydney (UTS), Australia

    Jie Lu  & Guangquan Zhang  & 

  2. University of South Australia, Australia

    Lakhmi C. Jain

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Kaya, İ., Kahraman, C., Çebi, S. (2012). Computational Intelligence Techniques for Risk Management in Decision Making. In: Lu, J., Jain, L.C., Zhang, G. (eds) Handbook on Decision Making. Intelligent Systems Reference Library, vol 33. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-25755-1_2

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  • DOI: https://doi.org/10.1007/978-3-642-25755-1_2

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