A fuzzy risk attitude classification based on prospect theory

Author

Yang Li ; Portmann, E.

Author_Institution

Dept. of Autom. Sci. & Electr. Eng., Beihang Univ., Beijing, China

fYear

2012

fDate

16-18 Nov. 2012

Firstpage

137

Lastpage

143

Abstract

Traditional methods do not actually measure peoples´ risk attitude naturally and precisely. Therefore, a fuzzy risk attitude classification method is developed. Since the prospect theory is usually considered as an effective model of decision making, the personalized parameters in prospect theory are firstly fuzzified to distinguish people with different risk atti-tudes, and then a fuzzy classification database schema is applied to calculate the exact value of risk value attitude and risk behavior attitude. Finally, by applying a two-hierarchical classification model, the precise value of synthetical risk attitude can be acquired.

Keywords

behavioural sciences computing; database management systems; decision making; fuzzy set theory; pattern classification; risk management; decision making; fuzzy classification database schema; fuzzy risk attitude classification; people risk attitude; personalized parameter; prospect theory; risk behavior attitude; risk value attitude; synthetical risk attitude; two-hierarchical classification model; Databases; Decision making; Educational institutions; Estimation; Humans; Pragmatics; Sensitivity; Fuzzy Classification; Parameters; Prospect Theory Application; Risk Attitude;

fLanguage

English

Publisher

ieee

Conference_Titel

Fuzzy Theory and it's Applications (iFUZZY), 2012 International Conference on

Conference_Location

Taichung

Print_ISBN

978-1-4673-2057-3

Type

conf

DOI

10.1109/iFUZZY.2012.6409689

Filename

6409689