Behavioural Present Value Defined as Fuzzy Number – a New Approach

INVENTORY MODEL WITH DEMAND AS TYPE-2 FUZZY NUMBER: A FUZZY DIFFERENTIAL EQUATION APPROACH

An inventory model is formulated with type-2 fuzzy parameters under trade credit policy and solved by using Generalized Hukuhara derivative approach. Representing demand parameter of each expert's opinion is a membership function of type-1 and thus, this membership function again becomes fuzzy. The final opinion of all experts is expressed by a type-2 fuzzy variable. For this present problem, t...

Implementation of Intuitionistic Fuzzy Approach in Maximizing Net Present Value

The applicability of Net Present Value (NPV) in an investment project is becoming more and more popular in the field of engineering economics. The classical NPV methodology involves only the precise and accurate data of the investment project. In the present communication, we give a new mathematical model for NPV which uses the concept of intuitionistic fuzzy set theory. The proposed model is b...

Fuzzy Interval Net Present Value

In this paper we conjugate the operative usability of the net present value with the capability of the fuzzy and the interval approaches to manage uncertainty. Our fuzzy interval net present value can be interpreted, besides the usual present value of an investment project, as the present value of a contract in which the buyer lets the counterpart the possibility to release goods/services for m...

Triangular approximations of fuzzy number with value and ambiguity functions

Fuzzy Efficiency Measures in DEA: A New Approach based on Fuzzy DEA Approach with Double Frontiers

Data envelopment analysis (DEA) is a method to measure relative efficiency of a set of decision-making units (DMUs) which uses multiple inputs and produces multiple outputs. In the conventional DEA, crisp inputs and outputs are fundamentally necessary. But the observed values of inputs and outputs in real-world problems are sometimes imprecise. Thus, performance measurement often needs to be do...