Hierarchical fuzzy case based reasoning with multi-criteria decision making for financial applications

Authors:
Shanu Sushmita;Santanu Chaudhury
Affiliations:
Electrical Engineering Department, Indian Institute of Technology Delhi, New Delhi, India;Electrical Engineering Department, Indian Institute of Technology Delhi, New Delhi, India
Venue:
PReMI'07 Proceedings of the 2nd international conference on Pattern recognition and machine intelligence
Year:
2007

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Abstract

This paper presents a framework for using a case-based reasoning system for stock analysis in financial market. The unique aspect of this paper is the use of a hierarchical structure for case representation. The system further incorporates a multi-criteria decision-making algorithm which furnishes the most suitable solution with respect to the current market scenario. Two important aspects of financial market are addressed in this paper: stock evaluation and investment planning. CBR and multi-criteria when used in conjunction offer an effective tool for evaluating goodness of a particular stock based on certain factors. The system also suggests a suitable investment plan based on the current assets of a particular investor. Stock evaluation maps to a flat case structure, but investment planning offers a scenario more suited for structuring the case into successive detailed layers of information related to different facets. This naturally leads to a hierarchical case structure.