Simultaneous solution of fuzzy models: an application to economic equilibrium analysis

The fuzzy modeling technology, which uses a rule-based description of the relationship between variables, is discussed. We then turn to the problem of the simultaneous solution of relationships involving fuzzy models. We illustrate this problem by considering the equilibrium problem in economics. In this case we have two relationships, one between price and supply and the other between price and demand, and we desire to nd the price for which the supply equals the demand. It is shown that if the fuzzy models have antecedent fuzzy sets which are of the trapezoidal–triangular type then a solution technique can be found. c © 2000 Elsevier Science B.V. All rights reserved.