Integrating Mathematical and Symbolic Models Through AESOP: An Expert for Stock Options Pricing.

Author List: Clifford, James; Lucas Jr., Henry C.; Srikanth, Rajan;
Information Systems Research, 1992, Volume 3, Issue 4, Page 359-378.
This paper reports on an effort to integrate symbolic and mathematical models to tailor the output of a mathematical model to the particular domain of a decision maker. AESOP combines the Black-Scholes model of stock options pricing with an expert system; the integrated model is designed for use by an options specialist on the American Stock Exchange. The specialist makes a number of adjustments to the output of the mathematical model; the purpose of the symbolic mode! is to make as many of these modifications as possible automatically. The paper reports on the development and structure of AESOP and presents data on its use.
Keywords: expert systems;systems design;symbolic models;mathematical models;Black-Scholes model
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#191 0.337 model models process analysis paper management support used environment decision provides based develop use using help literature mathematical presented formulation
#26 0.160 business large organizations using work changing rapidly make today's available designed need increasingly recent manage years activity important allow achieve
#267 0.153 options real investment option investments model valuation technology value analysis uncertainty portfolio models using context intuitive managerial regret uncertain case
#259 0.105 identity norms identification symbolic community help sense european social important verification set identities form obtained properties deterioration mixed match emphasis
#30 0.079 market trading markets exchange traders trade transaction financial orders securities significant established number exchanges regulatory structures order traditional stock provides
#129 0.057 expert systems knowledge knowledge-based human intelligent experts paper problem acquisition base used expertise intelligence domain inductive rules machine artificial task