Cognitive Tradeoff Analysis: A Case on EU Trademark Law, Investment Risk and Market Entry for Start-Ups

Abstract

Decision makers need to take into account multiple conflicting objectives when selecting a solution for an investment problem. In particular, technology start-ups typically have limited resources when first launching, and face practical questions such as: Where to pursuit local partnerships? Where to invest in digital advertisement? Where to launch a particular product or service? We analyze the case of a software company that is looking to enter a country market but needs to take into account a range of different objectives, from European Trademark Law, to various estimations of risk and economic potential. We propose a framework compatible with state of the art neural networks-based, cognitive-computing technology. We show how Trade-off Analysis facilitates specifying decision criteria by selecting objectives and preferences and reducing bias, and reduces the field of multiple complex alternatives to a group of best in class candidates. We enhance the framework by using both traditional metrics and improved approaches to measure economic growth potential, such as the Economic Complexity index (Hidalgo, Hausmann 2009).