Displaying similar documents to “A fuzzy pay-off method for real option valuation.”

On the notion of Fuzzy Set.

Nando Prati (1992)



Many discussions have been made on the problem of (i) What are Fuzzy Sets? since the origin of the theory. Due to the structure of Fuzzy Sets the first impression that many people have is that Fuzzy Sets are the distribution of a probability. Recent developments of many theories of uncertainty measures (belief functions, possibility and fuzzy measures, capacities) can make also think that a Fuzzy Set is the distribution of an uncertainty measure. Other problems...

A Method to Construct an Extension of Fuzzy Information Granularity Based on Fuzzy Distance

Thien, Nguyen Van, Demetrovics, Janos, Thi, Vu Duc, Giang, Nguyen Long, Son, Nguyen Nhu (2016)

Serdica Journal of Computing


In fuzzy granular computing, a fuzzy granular structure is the collection of fuzzy information granules and fuzzy information granularity is used to measure the granulation degree of a fuzzy granular structure. In general, the fuzzy information granularity characterizes discernibility ability among fuzzy information granules in a fuzzy granular structure. In recent years, researchers have proposed some concepts of fuzzy information granularity based on partial order relations. However,...

The Formal Construction of Fuzzy Numbers

Adam Grabowski (2014)

Formalized Mathematics


In this article, we continue the development of the theory of fuzzy sets [23], started with [14] with the future aim to provide the formalization of fuzzy numbers [8] in terms reflecting the current state of the Mizar Mathematical Library. Note that in order to have more usable approach in [14], we revised that article as well; some of the ideas were described in [12]. As we can actually understand fuzzy sets just as their membership functions (via the equality of membership function...

Fuzzy numbers, definitions and properties.

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

Mathware and Soft Computing


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...

A context-based approach to linguistic hedges

Martine De Cock, Etienne Kerre (2002)

International Journal of Applied Mathematics and Computer Science


We present a framework of L-fuzzy modifiers for L being a complete lattice. They are used to model linguistic hedges that act on linguistic terms represented by L-fuzzy sets. In the modelling process the context is taken into account by means of L-fuzzy relations, endowing the L-fuzzy modifiers with a clear inherent semantics. To our knowledge, these L-fuzzy modifiers are the first ones proposed that are suitable to perform this representation task for a lattice L different from the...

Fuzzy versus probabilistic benefit/cost ratio analysis for public work projects

Cengiz Kahraman (2001)

International Journal of Applied Mathematics and Computer Science


The benefit/cost (B/C) ratio method is utilized in many government and public work projects to determine if the expected benefits provide an acceptable return on the estimated investment and costs. Many authors have studied probabilis- tic cash flows in recent years. They introduced some analytical methods which determine the probability distribution function of the net present value and in- ternal rate of return of a series of random discrete cash flows. They considered serially correlated...