we use the basic binomial option pricing method but allow someor all the parameters in the model to be uncertain and model this uncertaintyusing fuzzy numbers. we show that with the fuzzy model we can, with areasonably small number of steps, consider almost all possible future stockprices; whereas the crisp model can consider only n + 1 prices after n steps.

measurement systems analysis (msa) has been applied in different aspect of industrial assessments to evaluate various types of quantitative and qualitative measures. qualification of a measurement system depends on two important features: accuracy and precision. since the capability of each quality system is severely related to the capability of its measurement system, the weakness of the two ...

Eighteen dogs were used to compare histopathological findings following excision of the soft palate using either a bipolar sealing device or a carbon dioxide laser. Histopathological comparisons were done at 48 and 96 hours after soft palate resection. Mean depths of tissue injury at 96 hours were 3.5 and 3.33 mm for bipolar sealing device and carbon dioxide laser, respectively. Control of hemo...

Measurement results contain different kinds of uncertainty. Besides systematic errors andrandom errors individual measurement results are also subject to another type of uncertainty,so-called emph{fuzziness}. It turns out that special fuzzy subsets of the set of real numbers $RR$are useful to model fuzziness of measurement results. These fuzzy subsets $x^*$ are called emph{fuzzy numbers}. The m...

the importance as well as the diculty of the problem of ranking fuzzy numbers is pointed out. here we consider approaches to the ranking of fuzzy numbers based upon the idea of associating with a fuzzy number a scalar value, its signal/noise ratios, where the signal and the noise are dened as the middle-point and the spread of each a-cut of a fuzzy number, respectively. we use the value of a ...

Molodtsov first proposed the soft set theory, which can be used as a general mathematical tool for dealing with fuzzy and uncertain information. As a generalization of soft set, interval-valued intuitionistic fuzzy soft set is another soft set structure,it is a combination of an interval-valued intuitionistic fuzzy set and a soft set. The objective of this paper is to study the decision making ...

In this paper, a novel method for ranking of fuzzy numbers are proposed. In this method, decision maker is defined based on the center of mass at some cuts of a pair of fuzzy numbers in discreet version and center of mass on all of cuts of a pair of fuzzy numbers in continuous version. Our method can rank more than two fuzzy numbers simultaneously. Also, some properties of methods are described...

This paper suggests  a novel approach for ranking the most applicable fuzzy numbers, i.e.  $LR$-fuzzy numbers. Applying the  $alpha$-optimistic values of a fuzzy number, a preference criterion is proposed for ranking fuzzy numbers using the Credibility index. The main properties of the proposed  preference criterion  are also studied.  Moreover, the proposed method is   applied for ranking fuzz...