Fuzzy set approaches are suitable to use when the modeling of human knowledge is necessary and when human evaluations are needed. Fuzzy set theory is recognized as an important problem modeling and solution technique. It has been studied ext- sively over the past 40 years. Most of the early interest in fuzzy set theory pertained to representing uncertainty in human cognitive processes. Fuzzy set theory is now – plied to problems in engineering, business, medical and related health sciences, and the natural sciences. This book handles the fuzzy cases of classical engineering e- nomics topics. It contains 15 original research and application chapters including different topics of fuzzy engineering economics. When no probabilities are available for states of nature, decisions are given under uncertainty. Fuzzy sets are a good tool for the operation research analyst facing unc- tainty and subjectivity. The main purpose of the first chapter is to present the role and importance of fuzzy sets in the economic decision making problem with the literature review of the most recent advances.
Table of Content
Fuzzy Sets in Engineering Economic Decision-Making.- Fuzzy Present Worth Analysis with Correlated and Uncorrelated Cash Flows.- Optimization with Fuzzy Present Worth Analysis and Applications.- Fuzzy Equivalent Annual-Worth Analysis and Applications.- Case Studies Using Fuzzy Equivalent Annual Worth Analysis.- Fuzzy Rate of Return Analysis and Applications.- On the Fuzzy Internal Rate of Return.- Fuzzy Benefit/Cost Analysis and Applications.- Fuzzy Replacement Analysis.- Depreciation and Income Tax Considerations under Fuzziness.- Effects of Inflation under Fuzziness and Some Applications.- Fuzzy Sensitivity Analysis and Its Application.- A Probabilistic Approach to Fuzzy Engineering Economic Analysis.- Investment Analyses Using Fuzzy Decision Trees.- Fuzzy Multiobjective Evaluation of Investments with Applications.- Using Fuzzy Multi-attribute Data Mining in Stock Market Analysis for Supporting Investment Decisions.- Soft Decision Support Systems for Evaluating Real and Financial Investments.- Pricing Options, Forwards and Futures Using Fuzzy Set Theory.- Fuzzy Capital Rationing Models.- Future Directions in Fuzzy Engineering Economics.
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