In recent years, researchers in the field of Artificial Intelligence have developed a learning technique, namely, preference learning, that is suitable to be used for economic analysis. The present research empirically tests one of these models, which consists of a combination of LACE and RFE algorithms. The problem of forecasting the profitability of Spanish companies upon the basis of a set o...

A computer program was created to conduct a comparative study of five Multi-Criteria Evaluation Methods (MCEMs), each of which is capable of evaluating alternatives in a resource management setting. The MCEMs included Weighted Average (WA), Preference Ranking Organization METHod for Enrichment Evaluations (PROMETHEE II), Compromise Programming (CP), ELimination and Choice Translating REality (E...

This paper introduces the application of the multicriteria method Promethee II to the selection of a portfolio manager. Such application involves four main steps: (1) defining the list of potential actions or solutions to the problem; (2) defining the list of relevant criteria; (3) evaluating the performance of each action based on each criterion; and (4) aggregating these performances with the...

In this paper we present a new approach for the planning of an investment project in the field of building construction. The focus is in shaping of the concept that serves to facilitate decision making about investments through providing support to investors’ when they are dealing with a problem selection of a solution for investment project. The concept is based on the combined use of several ...

This paper introduces the interval-PROMETHEE method to the investment decision making of value investing. Five performance criteria are used for measuring the growth potential of firms and are represented by interval numbers based on the real financial data. The interval-PROMETHEE method is applied to rank the 20 randomly selected stocks in Shanghai Stock Exchange. The portfolio with the top 5 ...

Outsourcing has become a common strategy in the information system/information technology (IS/IT) field in recent years. Many organizations attempt to enhance their competitiveness, reduce costs, increase their focus on internal resources and core activities, and sustain competitive advantage by IS/ IT outsourcing. Selection of appropriate outsourcing partners is an extremely important goal for...

The paper proposed a linguistic PROMETHEE approach for making investment portfolio decision. First, we both consider quantitative and qualitative information of each stock and use 2-tuple linguistic value for experts to express their opinions to obtain qualitative information with respect to all evaluation criteria. Then, the transformation method of 2-tuple linguistic variable is applied to ag...

This paper presents an effective decision making framework for software selection in manufacturing industries using a multiple criteria decision making method, Preference Ranking Organization Method for Enrichment Evaluations (PROMETHEE). The method is improved in the present work by integrating with analytic hierarchy process (AHP) and the fuzzy logic. Fuzzy logic is introduced to handle the i...

The paper presents the elements of a new methodology to control complex and hypercomplex socio-economic structures. The control process is iterative, combining the principles of System Dynamics, Control theory and the PROMETHEE Multicriteria Decision Aid (MCDA) methodology. It consists of three main stages: setting up and calibration of a quantitative model, de®nition of long-term strategies an...

Although PM was basically created to treat subjective comparisons, given exact values can be converted to Potential Method flow. A new feature of PM is a parameter called FlowNorm which helps to treat problems where each criterion has its own measurement scale. Complex hierarchial structures and problems modelled by decision tables can be handled. Incomplete data, such as incomplete belief, is ...