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Financial decision making with distance measures and induced probabilistic generalized aggregation operators | IEEE Conference Publication | IEEE Xplore

Financial decision making with distance measures and induced probabilistic generalized aggregation operators


Abstract:

We develop a new financial decision making approach by using induced and probabilistic generalized aggregation operators. We introduce the induced generalized probabilist...Show More

Abstract:

We develop a new financial decision making approach by using induced and probabilistic generalized aggregation operators. We introduce the induced generalized probabilistic ordered weighted averaging distance (IGPOWAD) operator and some of its main properties. Its main advantage is that it uses distance measures in a unified framework between the probability and the OWA operator where we can consider the degree of importance of each concept in the aggregation. Moreover, it also uses order-inducing variables that represent complex reordering processes in the aggregation. We develop an application of this new approach in a financial multi-person decision making problem regarding the selection of financial strategies. We see that the opinion of several experts provides more robust information for the decision maker.
Date of Conference: 11-15 April 2011
Date Added to IEEE Xplore: 14 July 2011
ISBN Information:
Print ISSN: 2380-8454
Conference Location: Paris, France

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