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Decision-making on Implementation of IPO Under Topological Uncertainty

Author

Listed:
  • Karel Doubravský

    (Department of Informatics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 612 00 Brno, Czech Republic)

  • Tomáš Meluzín

    (Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 612 00 Brno, Czech Republic)

  • Mirko Dohnal

    (Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 612 00 Brno, Czech Republic)

Abstract

IPO (Initial Public Offering) is a complex decision making task which is always associated with different types of uncertainty. Poor accuracies of available probabilities of lotteries e.g. quantification of investor interest is studied in the first part of this paper (Meluzín, Doubravský, Dohnal, 2012). However, IPO is often prohibitively ill-known. This paper takes into consideration the fact that decision makers cannot specify the structure/topology of the relevant decision tree. It means that one IPO task is specified by several (partially) different decision trees which comes from different sources e.g. from different teams of decision makers/experts. A flexible integration of those trees is based on fuzzy logic using the reconciliation (Meluzín, Doubravský, Dohnal, 2012). The developed algorithm is demonstrated by a case study which is presented in details. The IPO case integrates two partially different decision trees.

Suggested Citation

  • Karel Doubravský & Tomáš Meluzín & Mirko Dohnal, 2015. "Decision-making on Implementation of IPO Under Topological Uncertainty," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 63(1), pages 193-200.
    • Handle: RePEc:mup:actaun:actaun_2015063010193
    DOI: 10.11118/actaun201563010193
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