IDEAS home Printed from https://ideas.repec.org/p/esb/petprv/2015-210.html
   My bibliography  Save this paper

Investment Rankings Based On Technical Analysis By Fuzzy Mcdm In Tehran Stock Exchange

Author

Listed:
  • Mohsen Ghobadi, Mitra Torabi

    (Faculty of Management and Economic Dehaghan Branch, Islamic Azad University, Isfahan, Iran, Department of Financial Engineering Dehaghan Branch, Islamic Azad University, Isfahan, Iran)

Abstract

There are too many numbers of criteria for the investor to consider before making the final decision, including Overall Trend, Buying/Selling Pressure, Reward to Risk Ratio of a New Position and Potential entry levels for new long position, etc. When the investment strategies are evaluated from above aspects, it can be regarded as a fuzzy multi-criteria decision-making (FMCDM) problem. This research explains a fuzzy hierarchical analytic approach to determine the weighting of subjective judgments. In addition, it presents a non-additive fuzzy integral technique to evaluate technical analysts. Since investors cannot clearly estimate each considered criterion in terms of numerical values for the anticipated alternatives, fuzziness is considered applicable. Consequently, this research uses triangular fuzzy numbers to establish weights and anticipated achievement values. By ranking fuzzy weights and fuzzy synthetic performance values, we can determine the relative importance of criteria and decide the best strategies. We also apply what is called a fuzzy measure and non-additive fuzzy integral technique to evaluate aquatic investment. In addition, we demonstrate that the non-additive fuzzy integral is an effective evaluation and appears to be appropriate, especially when the criteria are not independent.

Suggested Citation

  • Mohsen Ghobadi, Mitra Torabi, 2015. "Investment Rankings Based On Technical Analysis By Fuzzy Mcdm In Tehran Stock Exchange," Ekonomika, Journal for Economic Theory and Practice and Social Issues 2015-02, „Ekonomika“ Society of Economists, Niš (Serbia).
  • Handle: RePEc:esb:petprv:2015-210
    as

    Download full text from publisher

    File URL: http://www.ekonomika.org.rs/sr/arhiva/PDF/ekonomika/2015/clanci2/10.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Investment Rankings; Technical Analysis; Fuzzy MCDM; Non-additive fuzzy integral.;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:esb:petprv:2015-210. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Predrag Jovanović (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.