When handling fuzzy number data, it is a common practice to make use of a metric to quantify distances between fuzzy numbers. Several metrics have been suggested in the literature for this purpose. When statistically analyzing fuzzy number-valued data, L metrics become especially useful. This paper introduces a new family of generalized L metrics which take into account key features of the invo...

The primary goal of this paper is to price European options in the Merton’s framework with underlying assets following jump-diffusion using fuzzy set theory. Owing to the vague fluctuation of the real financial market, the average jump rate and jump sizes cannot be recorded or collected accurately. So the main idea of this paper is to model the rate as a triangular fuzzy number and jump sizes a...

The paper considers the centroids of fuzzy numbers in the general condition. It suggests a pair of formulae for determining the centroid of a fuzzy number. The proposed formulae are correct in the sense described by Wangs’ paper. They are available for all fuzzy numbers and can be applied to ranking fuzzy numbers.

We propose a new approach to assigning distance between fuzzy numbers. A pseudo-metric on the set of fuzzy numbers and a metric on the set of trapezoidal fuzzy numbers are described. The regular reducing functions and the Hausdorff metric are used to define the metric. Using this metric, we can approximate an arbitrary generalized left right fuzzy number with a trapezoidal one. Finally, powers ...

Cost and operation of inventory depends a great deal on what happens to demand when the system is out of stock. In real inventory systems, it is more reasonable to assume that part of the excess demand is backordered and the rest is lost. However, the amount of backorders (or lost sales) often incurs disturbance due to various uncertainties. To incorporate this reality, this article attempts to...

This paper analysis single-period inventory models with discrete demand under fuzzy environment. In the proposed models three different cases are examined. In the first case, demand is represented by a triangular fuzzy number and a discrete membership function. In the second case, demand is a stochastic variable while inventory costs such as unit holding cost and unit shortage cost are imprecis...

Based on the model of symmetric and asymmetric duopoly option game, this paper discusses the present value of profit flows and the sunk investment costs for the trapezoidal fuzzy number. It constructs the fuzzy expressions of the investment value and investment threshold of followers and leaders under fuzzy environment and conducts numerical analysis. This offers a kind of explanation to the in...

This paper presents a new method for evaluating weapon systems using fuzzy set theory. The proposed method is more flexible than the one presented in 1111 due to the fact that it allows each item of criteria to have a different weight represented by a triangular fuzzy number. Furthermore, because the proposed method does not need to perform complicated entropy weight calculations as described i...

A fuzzy logic-based guidance design for longer engagement in time and beneficial interception attitudes is investigated and proposed here. The integrated fuzzy logic-based guidance scheme consisting of vertical, midcourse and terminal guidance phases can intercept the target from diverse aspects. The engagement strategy in the vertical guidance phase includes general vertical launch to handle t...

Ranking of intuitionsitic fuzzy number plays a vital role in decision making and other intuitionistic fuzzy applications. In this paper, we propose a new ranking method of intuitionistic fuzzy number based on distance measure. We first define a distance measure for interval numbers based on Lp metric and further generalize the idea for intuitionistic fuzzy number by forming interval with their ...