New fuzzy multiple criteria evaluation method as a support for investment decision making under uncertainty

Show simple item record Borovička, Adam 2020-02-07T07:15:19Z 2020-02-07T07:15:19Z 2019
dc.identifier.issn 1211-555X (Print)
dc.identifier.issn 1804-8048 (Online)
dc.description.abstract This article is motivated by real investment decision making for which uncertainty is so typical. The uncertainty can be represented by an unstable development of some characteristics of the investment instruments, or vague investor’s preferences. Moreover, the investment decision is usually made based on several criteria. To evaluate the investment instruments in a satisfactory manner, or namely to select suitable investment instrument(s), all mentioned aspects should be considered. For this purpose, a complex support tool is proposed in this paper. This fuzzy multiple criteria evaluation method uses triangular fuzzy numbers to express the element of uncertainty. It accepts a linguistically expressed importance of criteria which is very comfortable for a decision maker (investor). Linguistic terms are also transformed to the triangular fuzzy numbers based on the specified fuzzy scale. Using the concept of fuzzy sets (fuzzy numbers) provides a necessary quantification of the elements of uncertainty. The proposed method can select ‘the best’ alternative (i.e. investment instrument), to make a full ranking as well. All benefits of this fuzzy evaluation approach are illustratively demonstrated on a selected real investment decision making problem on the capital market with open unit trusts that are increasing in popularity within the Czech Republic. en
dc.format p. 28 - 40 (13 s.)
dc.language.iso en
dc.publisher University of Pardubice en
dc.relation.ispartof Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 47/2019 en
dc.rights open access en
dc.subject investment decision making en
dc.subject open unit trust en
dc.subject triangular fuzzy number en
dc.subject uncertainty en
dc.subject vague preferences en
dc.title New fuzzy multiple criteria evaluation method as a support for investment decision making under uncertainty en
dc.type Article en
dc.peerreviewed yes en
dc.publicationstatus published en
dc.subject.jel C44
dc.subject.jel G11

This item appears in the following Collection(s)

Show simple item record

Search DSpace

Advanced Search


My Account