全部 标题 作者
关键词 摘要

OALib Journal期刊
ISSN: 2333-9721
费用:99美元

查看量下载量

相关文章

更多...

A Multi-Attribute Decision Making for Investment Decision Based on D Numbers Methods

DOI: 10.4236/apm.2016.612062, PP. 765-775

Keywords: Uncertainty, MADM, Investment Decision, D Numbers, Entropy Weight

Full-Text   Cite this paper   Add to My Lib

Abstract:

Investment decision is a traditional multi-attribute decision making (MADM) problem since it has many uncertainty factors and incomplete information such as investment value, cost, sales, etc. D numbers theory is a useful tool to deal with uncertainty factors and incomplete information. In this paper, interval number and D numbers theory are revealed in the uncertain factor and incomplete information of investment decision. The weights of uncertain factors are calculated using entropy weight method. Thus, a new MADM model for investment decision based on D numbers theory is proposed. Numerical example is used to illustrate the efficiency of the proposed method.

References

[1]  Hirshleifer, J. (1965) Investment Decision under Uncertainty: Choice-Theoretic Approaches. Quarterly Journal of Economics, 79, 509-536.
http://dx.doi.org/10.2307/1880650
[2]  Deng, G.F. and Lin, W.T. (2010) Ant Colony Optimization for Markowitz Mean Variance Portfolio Model. Springer, Berlin Heidelberg.
http://dx.doi.org/10.1007/978-3-642-17563-3_29
[3]  Meyer, J.R. and Kuh, E. (1957) The Investment Decision: An Empirical Study. Harvard University Press, Harvard.
[4]  Farrar, D.E. (1962) The Investment Decision under Uncertainty. Prentice-Hall, Englewood Cliffs, 379-394.
[5]  Rubinstein, M. (2002) Markowitzs Portfolio Selection: A Fifty-Year Retrospective. The Journal of Finance, 57, 1041-1045.
http://dx.doi.org/10.1111/1540-6261.00453
[6]  Goldstein, I. and Razin, A. (2006) An Information-Based Trade-Off between Foreign Direct Investment and Foreign Portfolio Investment. Journal of International Economics, 70, 271-295.
http://dx.doi.org/10.1016/j.jinteco.2005.12.002
[7]  Bollerslev, T., Engle, R.F. and Wooldridge, J.M. (1988) A Capital Asset Pricing Model with Time-Varying Covariances. The Journal of Political Economy, 96, 116-131.
http://dx.doi.org/10.1086/261527
[8]  Xue, Y. and Boulton, W.R. (2008) Information Technology Governance in Information Technology Investment Decision Processes: The Impact of Investment Characteristics, External Environment, and Internal Context. MIS Quarterly, 32, 67-96.
[9]  Huberman, G., Wang, Z., et al. (2005) Arbitrage Pricing Theory. Technical Report, Federal Reserve Bank of New York.
[10]  Levy, H. (2006) Stochastic Dominance: Investment Decision Making under Uncertainty. Springer, Berlin, 757-776.
[11]  Todea, A. and Plesoianu, A. (2013) The Influence of Foreign Portfolio Investment on Informational Efficiency: Empirical Evidence from Central and Eastern European Stock Markets. Economic Modelling, 33, 34-41.
http://dx.doi.org/10.1016/j.econmod.2013.03.017
[12]  Beliakov, G. (2003) How to Build Aggregation Operators from Data. International Journal of Intelligent Systems, 18, 903-923.
http://dx.doi.org/10.1002/int.10120
[13]  Wei, D., Deng, Y. and Li, Y. (2012) Multi-Criteria Safety Evaluation Index with Topsis under Uncertain Environment. ICIC Express Letters, Part B: Applications, 3, 83-89.
[14]  Xu, Z. (2015) Uncertain Multi-Attribute Decision Making: Methods and Applications. Springer, Berlin.
http://dx.doi.org/10.1007/978-3-662-45640-8
[15]  Pei, Z. and Zheng, L. (2012) A Novel Approach to Multi-Attribute Decision Making Based on Intuitionistic Fuzzy Sets. Expert Systems with Applications, 39, 2560-2566.
http://dx.doi.org/10.1016/j.eswa.2011.08.108
[16]  Huang, X., Wang, N. and Wei, D. (2016) Investment Decision Using D Numbers. Control and Decision Conference, Las Vegas, 12-14 December 2016, 4164-4167.
http://dx.doi.org/10.1109/ccdc.2016.7531712
[17]  You, T.H. and Gao, M.L. (2012) An Approach to Multiple Attribute Decision Making with Intervals Considering the Risk Preferences of Decision-Makers. Operations Research Management Science.
[18]  Deng, X., Lu, X., Chan, F.T.S., Sadiq, R., Mahadevan, S. and Deng, Y. (2015) D-CFPR: D Numbers Extended Consistent Fuzzy Preference Relations. Knowledge-Based Systems, 73, 61-68.
http://dx.doi.org/10.1016/j.knosys.2014.09.007
[19]  Gao, F.J. (2000) Multiple Attribute Decision Making on Plans with Alternative Preference under Incomplete Information. Systems Engineering Theory Practice.
[20]  Deng, X., Hu, Y., Deng, Y. and Mahadevan, S. (2014) Supplier Selection Using AHP Methodology Extended by D Numbers. Expert Systems with Applications, 41, 156-167.
http://dx.doi.org/10.1016/j.eswa.2013.07.018
[21]  Dai, J., Wang, W. and Mi, J.-S. (2013) Uncertainty Measurement for Interval-Valued Information Systems. Information Sciences, 251, 63-78.
http://dx.doi.org/10.1016/j.ins.2013.06.047
[22]  Verma, A.K., Ajit, S. and Karanki, D.R. (2016) Uncertainty Analysis in Reliability/Safety Assessment. In: Verma, A.K., Ajit, S. and Karanki, D.R., Eds., Reliability and Safety Engineering, Springer, Berlin, 457-491.
http://dx.doi.org/10.1007/978-1-4471-6269-8_13
[23]  Tong, S. (1994) Interval Number and Fuzzy Number Linear Programmings. Fuzzy Sets and Systems, 66, 301-306.
http://dx.doi.org/10.1016/0165-0114(94)90097-3
[24]  Fu, Y., Jiang, H., Xiao, N., Tian, L., Liu, F. and Xu, L. (2014) Application-Awarelocal-Global Source Deduplication for Cloud Backup Services of Personal Storage. IEEE Transactions on Parallel and Distributed Systems, 25, 1155-1165.
http://dx.doi.org/10.1109/TPDS.2013.167
[25]  Wei, D., Deng, X., Zhang, X., Deng, Y. and Mahadevan, S. (2013) Identifying Influential Nodes in Weighted Networks Based on Evidence Theory. Physica A: Statistical Mechanics & Its Applications, 392, 2564-2575.
http://dx.doi.org/10.1016/j.physa.2013.01.054
[26]  Yager, R.R. and Alajlan, N. (2013) Decision Making with Ordinal Payoffs under Dempster-Shafer Type Uncertainty. International Journal of Intelligent Systems, 28, 1039-1053.
http://dx.doi.org/10.1002/int.21615
[27]  Yu, C., Yang, J., Yang, D., Ma, X. and Min, H. (2015) An Improved Conflicting Evidence Combination Approach Based on a New Supporting Probability Distance. Expert Systems with Applications, 42, 5139-5149.
http://dx.doi.org/10.1016/j.eswa.2015.02.038
[28]  Tang, H. (2015) A Novel Fuzzy Soft Set Approach in Decision Making Based on Grey Relational Analysis and Dempster-Shafer Theory of Evidence. Applied Soft Computing, 31, 317-325.
http://dx.doi.org/10.1016/j.asoc.2015.03.015
[29]  Deng, Y., Mahadevan, S. and Zhou, D. (2015) Vulnerability Assessment of Physical Protection Systems: A Bio-Inspired Approach. International Journal of Unconventional Computing, 11, 227-243.
[30]  Jiang, W., Wei, B., Xie, C. and Zhou, D. (2016) An Evidential Sensor Fusion Method in Fault Diagnosis. Advances in Mechanical Engineering, 8, 1-7.
http://dx.doi.org/10.1177/1687814016641820
[31]  Deng, Y. (2012) D Numbers: Theory and Applications. Journal of Information and Computational Science, 9, 2421-2428.
[32]  Weisberg, J. (2010) Dempster-Shafer Theory. University of Toronto, Toronto.
[33]  Deng, X., Hu, Y., Deng, Y. and Mahadevan, S. (2014) Environmental Impact Assessment Based on D Numbers. Expert Systems with Applications, 41, 635-643.
http://dx.doi.org/10.1016/j.eswa.2013.07.088
[34]  Liu, H.C., You, J.X., Fan, X.J. and Lin, Q.L. (2014) Failure Mode and Effects Analysis Using D Numbers and Grey Relational Projection Method. Expert Systems with Applications, 41, 4670-4679.
http://dx.doi.org/10.1016/j.eswa.2014.01.031
[35]  Deng, X., Hu, Y. and Deng, Y. (2014) Bridge Condition Assessment Using D Numbers. Scientific World Journal, 2014, 358057-358057.
http://dx.doi.org/10.1155/2014/358057
[36]  Fan, G., Zhong, D., Yan, F. and Yue, P. (2016) A Hybrid Fuzzy Evaluation Method for Curtain Grouting Efficiency Assessment Based on an AHP Method Extended by D Numbers. Expert Systems with Applications, 44, 289-303.
http://dx.doi.org/10.1016/j.eswa.2015.09.006
[37]  Lai, K.K., Wang, S.Y., Xu, J.P., Zhu, S.S. and Fang, Y. (2003) A Class of Linear Interval Programming Problems and Its Application to Portfolio Selection. IEEE Transactions on Fuzzy Systems, 10, 698-704.
http://dx.doi.org/10.1109/TFUZZ.2002.805902
[38]  Ida, M. (2004) Solutions for the Portfolio Selection Problem with Interval and Fuzzy Coefficients. Reliable Computing, 10, 389-400.
http://dx.doi.org/10.1023/B:REOM.0000032120.83979.d4

Full-Text

Contact Us

service@oalib.com

QQ:3279437679

WhatsApp +8615387084133