A hybrid trading system for defence procurement applications

  • Authors:
  • Gabriela Prelipcean;Florin Moisescu;Mircea Boscoianu;Calin Ciufudean;Gabriela Cioban

  • Affiliations:
  • Faculty of Economics and Public Administartion, Stefan cel Mare University of Suceava, Suceava, Romania;Faculty of Aeronautical Management, Air Force Academy "Henri Coanda" Brasov, Brasov, Romania;Faculty of Aeronautical Management, Air Force Academy "Henri Coanda" Brasov, Brasov, Romania;Faculty of Electrical Engineering and Computer Science, Suceava, Romania;Faculty of Economics and Public Administartion, Stefan cel Mare University of Suceava, Suceava, Romania

  • Venue:
  • SMO'09 Proceedings of the 9th WSEAS international conference on Simulation, modelling and optimization
  • Year:
  • 2009

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Abstract

In the aftermath of the actual financial crisis, all the MoDs are preparing severe budget cuts in response to the decline in their national income. The costs of transaction dedicated to military procurement are still very high and the efficiency of using this funds in military capability improvements is altered. A new framework based on hybrid trading system for defence spending aplications (HTS-D) that incorporates different ingredients like the chaos theory (CHT), non-linear statistical models (NLSM) and soft computing (SC) methods (Artificial Neural Networks- ANN, Fuzzy Logic- FL and Genetic Algorithms- GA) is proposed. The HTS-D framework can be defined in three phases: time series selection by using chaos theory to identify non-random series; forecasting the time series by using ANNs and NLSM; implementation of a rule-based HTS that may incorporate GAs.