Real options modeling, which extends the ability of option pricing models to evaluate real assets, can be used to evaluate risky projects because of its capacity to handle uncertainties. This research utilizes possibility theory to represent private risks of a project, which are not reflected in the market and hence are not fully evaluated by standard option pricing models. Using a transformati...

| The introduction of a notion of independence in possibility theory is a problem of long-standing interest. The deenitions that have up to now been given in the literature face some diiculties as far as interpretation is concerned. Also, there are inconsistencies between the deenition of independence of measurable sets and possibilistic variables. After a discussion of these deenitions and the...

In this paper we develop a bimodal perspective on possibility semantics, a framework allowing partiality of states that provides an alternative modeling for classical propositional and modal logics [Humberstone, 1981, Holliday, 2015a]. In particular, we define a full and faithful translation of the basic modal logic K over possibility models into a bimodal logic of partial functions over partia...

A central aim of educational research in the area of mathematical modeling and applications is to recognize the attainment level of students at defined states of the modeling process. In this paper, we introduce principles of fuzzy sets theory and possibility theory to describe the process of mathematical modeling in the classroom. The main stages of the modeling process are represented as fuzz...