Title: Decision-making: a classical logic or
a Fuzzy logic?
Abstract: This study contributes to the debate
between the efficiency theory and the behavioural finance concerning investment
strategies. It try to find an eventual complementarity between these two
theories by modeling the decision making using the classical and the fuzzy
logic. The sample is constituted by 25 firms quoted on Tunisian Stock Exchange.
Daily data from January 2001 to December 2008 is used. The results chow that
the fuzzy logic is better than the classical logic in explaining the complementarity
between the efficiency theory and the behavioural finance concerning decision
making.
Author: Fatma Khcherem and Abdelfettah Bouri
