A behavioral portfolio decision model based on credibility of interval-valued fuzzy number

Abstract

This paper handles a multi-account behavioral portfolio decision problem involved with interval-valued fuzzy number return. A sentimental mean model for behavioral portfolio decision is proposed by taking into account multiple mental accounts and investor sentiments. The presented behavioral portfolio decision model maximizes the sentimental mean value of portfolio return and ensures the portfolio return of each mental account exceeding the given minimum interval level with a given credibility degree. Then, a behavioral portfolio decision model based on credibility degree of interval-valued fuzzy number return is designed to solve the optimal portfolio strategy. Finally, one numerical example is given to illustrate the validity of the proposed behavioral portfolio method.