A Multi-Purpose Web Service for Risk Management Based on Fuzzy Multi-Criteria Ranking

A multi-purpose web service for risk management is presented in this paper. The approach suggested relies on user supplied data to set the model parameters. However, in real life, people are notoriously inaccurate and unreliable in reporting their preferences. This is especially true as the dimensionality and complexity of the problem increases. Therefore, genetic algorithm techniques are described which can be used to automate the derivation of fuzzy multi-criteria function parameters to consistently find good solutions to reconcile what people say they want with how they act.