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Fuzzy Cognitive Maps and their Application in the Economic Sciences

Author

Listed:
  • Bąk Iwona

    (West Pomeranian University of Technology, Szczecin, Poland)

  • Cheba Katarzyna

    (West Pomeranian University of Technology, Szczecin, Poland)

Abstract

The main purpose of the paper is an expert assessment of the relationship existing between selected indicators carried out using a relatively new tool in economic sciences: Fuzzy Cognitive Maps. The effect of its application is a graphical presentation of the relationship between the factors identified as the key ones. In the paper 23 indicators, describing four selected goals in the Strategy for Sustainable Development, 2030 Agenda were selected. It is assumed that the sustainable development goals should be related but according to the experts opinion this only applies to some indicators. This kind of relationships can be certainly identified in the case of the goals describing social and economic development, but often also economic and environmental development. However, the research results presented in the paper do not always confirm the existence of connections between individual indicators selected for the description of the goals of sustainable development. The paper tries to explain this problem.

Suggested Citation

  • Bąk Iwona & Cheba Katarzyna, 2020. "Fuzzy Cognitive Maps and their Application in the Economic Sciences," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 24(3), pages 20-36, September.
    • Handle: RePEc:vrs:eaiada:v:24:y:2020:i:3:p:20-36:n:2
    DOI: 10.15611/eada.2020.3.02
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    References listed on IDEAS

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    3. Andreou, Andreas S. & Mateou, Nicos H. & Zombanakis, George A., 2005. "Soft computing for crisis management and political decision making: the use of genetically evolved fuzzy cognitive maps," MPRA Paper 51325, University Library of Munich, Germany, revised 01 Nov 2004.
    4. Andreou, A. S. & Mateou, N. H. & Zombanakis, George A., 2003. "Crisis Management and Political Decision Making Using Genetically Evolved Fuzzy Cognitive Maps," MPRA Paper 51639, University Library of Munich, Germany, revised 14 Feb 2003.
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    More about this item

    Keywords

    cognitive maps; CM; fuzzy cognitive maps; FCM; relationships; graphical presentation;
    All these keywords.

    JEL classification:

    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P36 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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