Whenever a functional is concave it is natural to ask whether its sendograph is a closed convex set. If so, the Hahn–Banach theory implies that the functional can be represented as the infimum of all continuous linear functionals greater than or equal to it. We refer to such representation as a dual representation. Dominated convergence of the concave integral for capacities is characterized in...

To have a real option means to have the possibility for a certain period to either choose for or against making an invetsment decision, without binding oneself up front. The real option rule is that one should invest today only if the net present value is high enough to compensate for giving up the value of the option to wait. Because the option to invest loses its value when the investment is ...

This paper investigates the approximation behaviour of the K1 oczy–Hirota (KH) interpolative fuzzy controllers. First, in accordance with the remarks in (Fuzzy Sets and Systems 125(1) (2002) 105), it is pointed out that it is a fuzzy generalization of the Shepard operator. Shepard operator has thoroughly studied by approximation theorist since the mid-1970s. Exploiting the aforementioned relati...

In many applications, multiple correlation and partial correlation for three or more fuzzy sets are very important, but Chiang and Lin (1999, Fuzzy Sets and Systems 102: 221–226) do not solve this problem. Here, we propose a method to calculate the multiple correlation and partial correlation for fuzzy data, by adopting the concepts from the multivariate correlation model. In order to fit into ...

Fuzzy decision-making consists in making decisions under complex and uncertain environments where the information can be assessed with fuzzy sets and systems. The aim of this study is to review the main contributions in this field by using a bibliometric approach. For doing so, the article uses a wide range of bibliometric indicators including the citations and the h-index. Moreover, it also us...

Let X denote a locally compact metric space and φ : X → X be a continuous map. In the 1970s L. Zadeh presented an extension principle, helping us to fuzzify the dynamical system (X, φ), i.e., to obtain a map Φ for the space of fuzzy sets on X. We extend an idea mentioned in [P. Diamond, A. Pokrovskii, Chaos, entropy and a generalized extension principle, Fuzzy Sets and Systems 61 (1994)] and we...

Ying-Ming Wang , Jian-Bo Yang, Dong-Ling Xu, Kwai-Sang Chin a Manchester Business School, The University of Manchester, PO Box 88, Manchester M60 1QD, UK b School of Public Administration, Fuzhou University, Fuzhou, Fujian, 350002, PR China c Department of Manufacturing Engineering and Engineering Management, City University of Hong Kong, Tat Chee, Kowloon, Hong Kong Abstract In a paper by Chen...

The mean-variance methodology for the portfolio selection problem, originally proposed by Markowitz, has been one of the most important research fields in modern finance. In this paper we will assume that (i) each investor can assign a welfare, or utility, score to competing investment portfolios based on the expected return and risk of the portfolios; and (ii) the rates of return on securities...

in this paper, a new definition of fuzzy bounded sets and totallyfuzzy bounded sets is introduced and properties of such sets are studied. thena relation between totally fuzzy bounded sets and n-compactness is discussed.finally, a geometric characterization for fuzzy totally bounded sets in i- topologicalvector spaces is derived.

In this paper, we introduce and study a new topology related to a self mapping on a nonempty set.Let X be a nonempty set and let f be a self mapping on X. Then the set of all invariant subsets ofX related to f, i.e. f := fA X : f(A) Ag P(X) is a topology on X. Among other things,we nd the smallest open sets contains a point x 2 X. Moreover, we find the relations between fand To f . For insta...