Over the past decades the complexity of financial decisions has increased rapidly, thus highlighting the importance of developing and implementing sophisticated and efficient quantitative analysis techniques for supporting and aiding financial decision making. Multicriteria decision aid (MCDA), an advanced branch of operations research, provides financial… (More)
Paper presented at the 7th meeting of the EURO-working group "Aide a la decision multicritere" in York, april 1978.
In this paper we present and illustrate using real-life data a framework for managing an investment portfolio in which the investment opportunities are described in terms of a set of attributes and part of this set is intended to capture the effects on society. Here we link with the emerging literature on SRI: socially responsible investment. Given the… (More)
Agent-based computational economics acknowledges the distributed nature of trading in financial markets by modeling the markets as evolving systems of autonomous, interacting agents that correspond to the trading parties. Conventionally, the behavior of traders has been described mathematically, and the market system is analyzed at equilibrium conditions.… (More)
— Optimism or pessimism of investors is one of the important characteristics that determine the investment behavior in financial markets. In this paper, we propose a model of investor optimism based on a fuzzy connective. The advantage of the proposed approach is that the influence of different levels of optimism can be studied by varying a single… (More)
This paper aims at providing an operational methodological background for policy analysis based on interactive policy strategies. After a discussion of interactive multiple goal programming models, an empirical illustration based on an integrated Western European model is presented.
In this article CCPR, a multidimensional framework for comparative performance evaluation is proposed, which is elaborated and illustrated through a real-life case. A particular feature of the approach is that it takes account of and corrects for the influence of risks, which are beyond the control of the decision maker. Here risk is seen as a… (More)
This paper argues that it is useful to divide the cyclical behavior of modern mixed capitalist economies into an expansion, upper turning period, recession and lower turning period. This characterization of the business cycle is more complicated than the one currently followed by the National Bureau of Economic Research, which identifies the peak and trough… (More)