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Displaying similar documents to “Fuzzy versus probabilistic benefit/cost ratio analysis for public work projects”

Capital budgeting problems with fuzzy cash flows.

Christer Carlsson, Robert Fuller (1999)

Mathware and Soft Computing

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We consider the internal rate of return (IRR) decision rule in capital budgeting problems with fuzzy cash flows. The possibility distribution of the IRR at any r ≥ 0, is defined to be the degree of possibility that the (fuzzy) net present value of the project with discount factor r equals to zero. Generalizing our earlier results on fuzzy capital budegeting problems [Car99] we show that the possibility distribution of the {IRR} is a highly nonlinear function which is getting more and...

The internal rate of return of fuzzy cash flows.

Loredana Biacino, M. Rosaria Simonelli (1992)

Stochastica

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An internal rate of return (IRR) of an investment or financing project with cash flow (a0,a1,a2,...,an) is usually defined as a rate of interest r such that a0 + a1(1 + r)-1 + ... + an(1 + r)-n = 0. If the cash flow has one sign change then the previous equation has a unique solution...

A Linguistic Fuzzy Approach to the Consensus Reaching in Multiple Criteria Group Decision-making Problems

Vojtěch Sukač, Jana Talašová, Jan Stoklasa (2016)

Acta Universitatis Palackianae Olomucensis. Facultas Rerum Naturalium. Mathematica

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The paper introduces a new method of reaching a consensus in multiple criteria group decision-making under fuzziness. This model is based on the general definition of the ‘soft’ consensus introduced by Kacprzyk and Fedrizzi in 1986. The fuzzy evaluations of alternatives express degrees of fulfillment of the given goals by the respective alternatives for each expert. The selection of the best alternative is based on the fuzzy consensus by experts. For this purpose a set of alternatives...

Fuzzy numbers, definitions and properties.

Miguel Delgado, José Luis Verdegay, M. Amparo Vila (1994)

Mathware and Soft Computing

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Two different definitions of a Fuzzy number may be found in the literature. Both fulfill Goguen's Fuzzification Principle but are different in nature because of their different starting points. The first one was introduced by Zadeh and has well suited arithmetic and algebraic properties. The second one, introduced by Gantner, Steinlage and Warren, is a good and formal representation of the concept from a topological point of view. The objective of this paper is...