FUZZY COGNITIVE MAPS IN STOCK MARKET

D. E. Koulouriotis, I. E. Diakoulakis and D. M. Emiris
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D. E. Koulouriotis: Department of Production Engineering and Management, Technical University of Crete, Chania, 73100, Greece
I. E. Diakoulakis: Department of Production Engineering and Management, Technical University of Crete, Chania, 73100, Greece
D. M. Emiris: Department of Production Engineering and Management, Technical University of Crete, Chania, 73100, Greece

Chapter 11 in Fuzzy Sets in Management, Economics and Marketing, 2001, pp 165-179 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractStock price forecasting constitutes a challenging research area. Diverse schemes (such as regression models, neural networks, neurofuzzy systems etc.) have been developed and applied; yet, the overall prediction behavior of such systems is questionable in real world conditions. The major reason limiting the accurate stock price predictions is the existence of a plethora of interrelated agents (quantitative and qualitative) affecting stock price movements and fluctuations. Fuzzy Cognitive Maps (FCMs) seem to constitute a useful modeling tool for the development of a forecasting model, which takes into account the characteristics of the stock market. The main purpose of this work is thus to present analytically the FCM operation mode and the potential extensions of the underlying inference mechanism, and to describe possible applications of FCMs in the domain of stock market.

Date: 2001
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