Valuation of Ihe investment projects is very serious in every dimen.sion. Convenlional discounted ca.sh flow techniques are usually insufficient since these techniques faii to account tor the (lexibility in business decisions and violations occur as a result of the existing uncertainty in projects. Real option valuation methods overcome this problem with its efficient and flexible nature. Finan...

In this paper, we extend the domains of affirmation and negation operators, and more important, of triangular (semi)norms and (semi)conorms from the unit interval to bounded partially ordered sets. The fundamental properties of the original operators are proven to be conserved under this extension. This clearly shows that they are essentially based upon order-theoretic notions. Consequently, a ...

Our paper deals with the necessary properties in Fuzzy Measures. Therefore, it belongs to Fuzzy Mathematical Analysis. The Possibility Theory was created by Zadeh in a paper of 1978. As general purpose, to obtain a way to model flexible restrictions constructed from vague pieces of information. If we study the counterparts of expectations (from Probability Theory) in Possibility Theory, we obta...

This paper is a reply to Laviolette and Seaman’s critical discussion of fuzzy set theory. Rather than questioning the interest of the Bayesian approach to uncertainty, some reasons why Bayesian find the idea of a fuzzy set not palatable are laid bare. Some links between fuzzy sets and probability that Laviolette and Seaman seem not to be aware of are pointed out. These links suggest that, contr...

In this paper we introduce FLM, a divergence measure to compare a fuzzy and a crisp partition. This measure is an extension of LM, the López de Mántaras distance. This extension allows to handle domain objects having attributes with continuous values. This means that for some domains the use of fuzzy sets may report better results than the discretization that is the usual way to deal with conti...

This paper presents a method for optimizing the parameters of Multilayer Perceptron Neural Networks (MLP NN) consisting of fuzzy flip-flops (F3) based on various operations using Bacterial Memetic Algorithm with the Modified Operator Execution Order (BMAM). In early work, the authors proposed the gradient based Levenberg-Marquardt (LM) algorithm for variable optimization. The BMAM local and glo...

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....

Interval-valued fuzzy sets are based on the algebra of subintervals of the unit interval [0, 1]. We study valuations as a special type of measures on this algebra. We present a description of all valuations which preserve the standard fuzzy negation and extend the identity on the elements of the form (x, x). Consequences for sublattices are formulated. Keywords— Girard algebra, interval-valued ...