Markov frameworks and stock market decision making

In this paper, we present applications of Markov rough approximation framework (MRAF). The concept of MRAF is defined based on rough sets and Markov chains. MRAF is used to obtain the probability distribution function of various reference points in a rough approximation framework. We consider a set to be approximated together with its dynamacity and the effect of dynamacity on rough approximations is stated with the help of Markov chains. An extension to Pawlak’s decision algorithm is presented, and it is used for predictions in a stock market environment. In addition, suitability of the algorithm is illustrated in a multi-criteria medical diagnosis problem. Finally, the definition of fuzzy tolerance relation is extended to higher dimensions using reference points and basic results are established.

Fuzzy Binary Rough Set

In this paper, we provide a definition of α-fuzzified lower and upper approximations for fuzzy sets based on the α-cut of fuzzy binary relations. We show that the definition is a proper generalization of the previous one for approximations of crisp sets and compare it with an existing definition in the context of fuzzy tolerance relation.