The main purpose of this paper is to propose a fuzzy approach for investment project valuation in uncertain environments from the aspect of real options. The traditional approaches to project valuation are based on discounted cash flows (DCF) analysis which provides measures like net present value (NPV) and internal rate of return (IRR). However, DCF-based approaches exhibit two major pitfalls....

Fuzzy rules have been advocated as a key tool for expressing pieces of knowledge in "fuzzy logic". However, there does not exist a unique kind of fuzzy rules, nor is there only one type of "fuzzy logic". This diversity has caused many a misunderstanding in the literature of fuzzy control. The paper is a survey of different possible semantics for a fuzzy rule and shows how they can be captured i...

Compound real options are combinations of real options, where an exercise of a real option opens another real option. Compound real options are commonly found in a number of industrial projects, but are especially relevant in, e.g., research and development (R&D) where the R&D projects give the real option to research further, or to start the implementation of the results. Valuation of compound...

Option pricing is a tool that investors often use for the purpose of arbitrage or hedging. However, both the BlackScholes model and the CRR model can only provide a theoretical reference value. The volatility in the CRR model cannot always appear in the precise sense because the financial markets fluctuate from time to time. Hence, the fuzzy volatility is naturally to be considered. The main pu...

In this paper we provide a common framework for different stratified $LM$-convergence spaces introduced recently. To this end, we slightly alter the definition of a stratified $LMN$-convergence tower space. We briefly discuss the categorical properties and show that the category of these spaces is a Cartesian closed and extensional topological category. We also study the relationship of our cat...

Abstract This article comparatively analyzes two manifestos in the field of quantitative science evaluation, Altmetrics Manifesto (AM) and Leiden (LM). It employs perspectives from Sociology (E-) Valuation to make sense highly visible critiques that organize current discourse. Four motifs can be reconstructed manifestos’ valuation strategies. The AM criticizes confinedness established evaluatio...

– Approximate reasoning and fuzzy queries are efficient methods in retrieving information from large databases when precise attributes are unknown or the model itself is vague. We explore such types of reasoning based on the notions of the possibility theory. We suggest an approach towards a Prolog implementation of such queries which takes into account fuzzy linguistic quantification, aggregat...

This chapter introduces a rule-based perspective on the framework of fuzzy lattices, and the Fuzzy Lattice Reasoning (FLR) classifier. The notion of fuzzy lattice rules is introduced, and a training algorithm for inducing a fuzzy lattice rule engine from data is specified. The role of positive valuation functions for specifying fuzzy lattices is underlined and non-linear (sigmoid) positive valu...