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Artificial Intelligence Applications on Wall Street, 1991. Proceedings., First International Conference on

Date 9-11 Oct. 1991

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  • Proceedings. The First International Conference on Artificial Intelligence on Wall Street (Cat. No.91TH0399-6)

    Publication Year: 1991
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    Freely Available from IEEE
  • Case-based reasoning for financial decision making

    Publication Year: 1991, Page(s):232 - 237
    Cited by:  Papers (3)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (456 KB)

    Case-based reasoning provides a computational paradigm for simulating the role of experience and intentions in decision making. The author describes a program that provides a framework for modeling financial decision making. He suggests the use of qualitative decision models as a computationally feasible complement to the traditional quantitative approaches to financial decision making. He contras... View full abstract»

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  • Management of uncertainty for intelligent financial systems

    Publication Year: 1991, Page(s):238 - 243
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (396 KB)

    A fundamental function of financial intermediaries is to assess and assume risk. Financial intermediaries have to deal with risks such as credit risks, liquidity risks, interest rate changes and exchange rate changes. Some of these risks can be dealt with using techniques such as hedging, but there is always some subjective judgement involved. The relevance of the Dempster-Shafer theory of evidenc... View full abstract»

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  • The application of knowledge-based systems to brand evaluation

    Publication Year: 1991, Page(s):246 - 250
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (280 KB)

    BRAND EVALUATOR is a prototype expert system which has been designed to assist brand specialists in evaluating the worth of branded products. The paper describes the process of knowledge acquisition and elicitation and the design, development and validation of BRAND EVALUATOR. It examines the problems encountered, system limitations and achievements of the project. BRAND Evaluator is implemented a... View full abstract»

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  • Selecting neural network architectures via the prediction risk: application to corporate bond rating prediction

    Publication Year: 1991, Page(s):35 - 41
    Cited by:  Papers (26)  |  Patents (13)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (412 KB)

    The notion of generalization can be defined precisely as the prediction risk, the expected performance of an estimator on new observations. The authors propose the prediction risk as a measure of the generalization ability of multi-layer perceptron networks and use it to select the optimal network architecture. The prediction risk must be estimated from the available data. The authors approximate ... View full abstract»

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  • Marketing and artificial intelligence: with neural net market segmentation example

    Publication Year: 1991, Page(s):251 - 256
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (484 KB)

    While the domain of marketing has developed many hypothesizes and theories much of it is still heuristic based. both in research and practice, marketers must deal with problems in the data, partially proven hypotheses, etc. which results in such uncertainty that extensive experience and understanding of both research literature and proven practices is necessary to successfully operate in this fiel... View full abstract»

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  • Guidelines: a production rule based implementation of mortgage insurance underwriting policy

    Publication Year: 1991, Page(s):174 - 177
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (296 KB)

    Guidelines, a business critical COBOL program used to disseminate underwriting policy on a nationwide basis, has been re-engineered using rule based expert system technology in a short period of time. One of the key goals of the project was to enable direct participation by non systems professionals in the maintenance of the guideline rules. Thus it was necessary that the rules be simple. Several ... View full abstract»

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  • An intelligent trend prediction and reversal recognition system using dual-module neural networks

    Publication Year: 1991, Page(s):42 - 51
    Cited by:  Papers (1)  |  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (648 KB)

    Short-term trends of price movement for common stocks traded on the Taiwan stock market have been modelled and predicted using the dual-module neural networks (dual net) proposed. Both neural network modules of the dual net learn the correlations between the trends of price movement and the retrospective technical indices. An adaptive reversal recognition mechanism which can self-tune the threshol... View full abstract»

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  • An application of artificial neural networks and genetic algorithms to personnel selection in the financial industry

    Publication Year: 1991, Page(s):257 - 262
    Cited by:  Papers (3)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (276 KB)

    Personnel selection in the financial industry can improve the performance of this critical corporate resource when done properly. This paper introduces a neural net classifier to aid this selection process. A novel application of a genetic algorithm to speed up the neural learning process is presented View full abstract»

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  • The ALEXSYS mortgage pool allocation system

    Publication Year: 1991, Page(s):79 - 84
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (524 KB)

    Various approaches are given for the allocation of mortgage pools, a combinatorial optimization problem, faced by financial institutions that trade in mortgage-backed securities. The authors review the problem, describe and compare the approaches taken to solve it, and demonstrate how this work motivates further research and the development of a high-level parallel rule language that uses meta-rul... View full abstract»

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  • Model-based financial data interpretation

    Publication Year: 1991, Page(s):178 - 186
    Cited by:  Papers (2)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (576 KB)

    Analyzing the recent financial history of a firm is an important step in the annual audit cycle and in many other financial reasoning tasks. Auditors and other analysts performing this task have available to them a variety of mathematical models to fit to a set of historical and current period financial statement data. They also have expectations about the likelihood and magnitudes of errors in th... View full abstract»

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  • A wide area network information filter

    Publication Year: 1991, Page(s):10 - 15
    Cited by:  Patents (92)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (448 KB)

    A discussion is given on an intelligent wide area network-based clipping service used as a test-bed for the development and effectiveness measurement of high-performance retrieval algorithms. The system taps news wire and other information sources aperiodically, several times daily. It maintains a local 100 Mbyte news database that changes at a rate of 10 Mbytes per day. The system stores and mana... View full abstract»

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  • Neural networks and the mathematics of chaos-an investigation of these methodologies as accurate predictors of corporate bankruptcy

    Publication Year: 1991, Page(s):52 - 57
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (380 KB)

    Research is given which investigates the use of neural networks as a classification tool to predict corporate bankruptcy. It also examines if a branch of chaos theory could be used as a forecasting tool. It compares neural networks with an alternative corporate bankruptcy prediction model Altman's Z-score model (1977) on a small data sample and illustrates that neural networks can yield superior r... View full abstract»

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  • A new perspective on conflict resolution in market forecasting

    Publication Year: 1991, Page(s):97 - 102
    Cited by:  Papers (1)  |  Patents (3)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (448 KB)

    What has been most problematical in the application of expert systems technology to market forecasting, as well as a significant theoretical issue with respect to the relative `insensitivity' of the control structure of the expert system shell to global changes in the nature of the dynamism of the predictive domain has been that the market is sometimes predictable by one mechanism, sometimes by an... View full abstract»

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  • Building a banking system specification using machine learning

    Publication Year: 1991, Page(s):263 - 268
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (380 KB)

    Transforming user requirements into software specification is a complex and demanding task. Artificial intelligence methods such as machine learning (ML) can assist in the software specification process by providing support to system designers. This paper presents an approach based on explanation-based learning (EBL), a ML technique in which a concept is learned by building an explanation. The app... View full abstract»

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  • A technical analysis expert system with knowledge refinement mechanism

    Publication Year: 1991, Page(s):86 - 91
    Cited by:  Papers (1)  |  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (352 KB)

    A refinement system is given which tries to refine a rule base, using task and domain strategies. In particular, the task strategy has domain-free rule primitives which are just relevant to generic tasks (signal processing or pattern recognition) and tries to move the initial rule space into a new better one, testing the applicability of new rule candidates in the new rule space with real data. An... View full abstract»

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  • MASTER: a case based-design to augment corporate mergers and acquisitions decisions

    Publication Year: 1991, Page(s):188 - 193
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (484 KB)

    The work on AI financial services applications has now moved into the second-generation of expert systems. This paper briefly reviews some general development and discusses a hybrid design called MASTER. MASTER provides decision aid for M&A professionals. The hybrid employs a cooperating mix of rules and case-based reasoning to provide advice on prospective mergers. The MASTER knowledge base u... View full abstract»

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  • Integrating neural networks and expert systems for merger and acquisition analysis

    Publication Year: 1991, Page(s):200 - 205
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (460 KB)

    Certain business applications contain knowledge where some rules are known explicitly and other rules are known implicitly by examples. For such applications, expert system technology can be used for the explicit rules and neural network technology can be used for the implicit rules. This paper presents a knowledge engineering methodology which integrates expert system technology, neural network t... View full abstract»

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  • Margin credit evaluation system

    Publication Year: 1991, Page(s):128 - 131
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (396 KB)

    The Management Science Group developed an expert system for the Credit Administration Department at Merrill Lynch to assist them with their primary responsibility of setting credit limits on margin accounts. Every account with a debit balance over $100000 is delivered daily to the system, appraised, and prioritized by its risk, using a combination of analytic and heuristic reasoning to evaluate it... View full abstract»

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  • The strategic significance of expert systems

    Publication Year: 1991, Page(s):214 - 219
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (376 KB)

    Expert or knowledge-based systems are being deployed in virtually every industry because of their power to bring strategic competitive advantage to the firms who successfully employ them. The strategic significance of expert systems lies in their ability to improve the effectiveness and efficiency of the decision-making process and, in the long run, improved decision-making leads to growth and inc... View full abstract»

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  • Name classification in noisy domains

    Publication Year: 1991, Page(s):16 - 22
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (476 KB)

    Many problems in trading and regulation depend on textual data that identifies objects, events, and relationships. In general, these trading and regulatory activities require data from a variety of sources that must be `intelligently integrated', in order to draw attention to a particular object or group of objects to indicate unusual trading opportunities or to help indicate unusual market behavi... View full abstract»

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  • Program traffic locator-a knowledge based expert system

    Publication Year: 1991, Page(s):135 - 138
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (228 KB)

    A program basket contains a specified set of stocks in a certain proportion. It is a difficult problem to recognize a program basket when the orders comprising the basket are interspersed with the large number of individual retail orders arriving at the stock exchange. A knowledge based expert system was designed to identify and `learn' the basket properties so that it can be used to identify bask... View full abstract»

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  • Predicting short and long term financial trends

    Publication Year: 1991, Page(s):58 - 59
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (156 KB)

    For short term predictions of trends in financial statistical data, the author shows the connection between using back data and differentiability assumptions and uses the theory to present new trend extrapolation schemes. For long term prediction, Keynes's fundamental equations are formulated in a mathematically acceptable manner and its shown how to use these equations to model economic developme... View full abstract»

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  • Exploiting hypertext valuation links for business decision making: a portfolio management illustration

    Publication Year: 1991, Page(s):312 - 318
    Cited by:  Papers (2)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (536 KB)

    This paper discusses the application of hypertext valuation links to decision support for business problems. Valuation links enable one to relate hypertext link traversal to computation in a way that affects the contents of a hypertext node while retaining the `browsing metaphor' of hypertext. This helps to support quantitative or qualitative reasoning about business problems when described in ter... View full abstract»

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  • Achieving excellence in the global marketplace using knowledge-based simulation

    Publication Year: 1991, Page(s):103 - 108
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (412 KB)

    The continuous improvement of global real-time processes is an essential element in establishing and maintaining a world class operation. Process re-engineering efforts are undertaken to redesign and implement process improvements for white-collar processes from a business process and information technology perspective, but are often biased and short-sighted in their analyses and recommendations. ... View full abstract»

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