Research On Preference Feedback Pattern Of Interactive Decision In Portfolio Problem

With the rapid development of China's economy in the twenty-first century,the quality of people's life has become higher,and their financial awareness has also increased.Therefore,for the investors,how to allocate the capital to a set of financial products for higher gain and lower risk is the most important problem that investors want to solve,which is also the core idea of portfolio problem.The theory of portfolio and Mean-Variance Model were proposed in the 1950 s by Markowitz,which laid the foundation of the subsequent study.Therefore,in order to help investors get the most satisfactory portfolios,in this paper,on the basis of the interactive decision-making method and investors' bounded rationality,we mainly do following research:Firstly,in order to obtain the portfolio more in line with investor's preference some research is done on the multi-objective optimization problem and on this basis,taking into account the limited rational investors,the most flexible interactive method is used to solve the portfolio problem.In order to get the investor's most preferred solution,we need to interact with the investors,and the preference model is gradually close to the investor's real preference through the constant feedback from the investors.The accurate degree of investor preference feedback determines whether preference model is representative,therefore the preference feedback mode is proposed.Considering the investors' bounded cognitive ability,this paper adopts qualitative paired comparison feedback form,which greatly reduces the cognitive requirement for the investors,so investors are more likely to give their feedback.Secondly,qualitative paired comparison form does make it easier for investors to make judgments,but the decision-maker is still limited rational and there may give conflicting feedback or not give some feedback called uncertain feedback results in this paper.Therefore,corresponding measures are proposed which makes the feedback results more reliable.At the same time,the qualitative paired comparison form can only get the local dominance relation between candidate solutions,but global dominance relation among all the candidate solutions is needed to update the preference model.So this paper proposes the order-sorted method to deal with the data after uncertainty is processed thus obtaining a set of ordered classification.Finally,preference feedback mode is applied to the interactive method to help investors find the most preferred portfolio from a set of candidate solutions.Above all the multi-objective optimization algorithm is used to generate a set of solutions and the investors give their preference feedback on them.What's more,it's also easy to choose their favorite portfolio from a set of solutions with the help of preference feedback mode.In this way,not only the burden of investors is reduced,but also the application value of the preference feedback mode in the interactive decision-making method is also improved.