Title :
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
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;
Conference_Titel :
Fuzzy Theory and it's Applications (iFUZZY), 2012 International Conference on
Conference_Location :
Taichung
Print_ISBN :
978-1-4673-2057-3
DOI :
10.1109/iFUZZY.2012.6409689
