In this paper, we consider fractional Liu process. First, the membership functions, expected values and variances of arithmetic and geometric fractional Liu process are given. Then we suppose that stock price follows geometric fractional Liu process and formulate fractional Liu’s stock model. Based on this model, European option pricing formulas are obtained.

A novel approach to fuzzy modeling based on the tuning of parametric conjunction operations is proposed. First, some novel methods for the construction of parametric generalized conjunction operations simpler than the known parametric classes of conjunctions are considered and discussed. Second, several examples of function approximation by fuzzy models, based on the tuning of the parameters of...

We extend our earlier results [1; 2; 4] on the issue of weighted aggregations to linguistic importance weighted aggregations when both the importances (interpreted as benchmarks) and the ratings are given by symmetric triangular fuzzy numbers. We show that (unlike the case with finite term sets) small changes in the membership functions of the weights can cause only small variations in the (cri...

This chapter first defines a recommendation process, which helps the user to select products from a large number of candidates according to personal preference. Though both conventional database and fuzzy database have been used for this task, none of the two provide a proper solution. A new approach is introduced, which is easy to design and maintain, and provides well justified results. The c...

As we all know, face age estimation task is not only challenging for computer, but even hard for human in some cases, however, coarse age classification such as classifying human face into baby, child, adult or elder people is much easier for human. In this paper, we try to dig out the potential age classification power of computer on faces from consumer images which are taken under various con...

In this paper C1, C2 are non empty sets. Let C be a non empty set. One can verify that every membership function of C is quasi total. Let C1, C2 be non empty sets. A membership function of C1, C2 is a membership function of [:C1, C2 :]. Let C1, C2 be non empty sets and let h be a membership function of C1, C2. A fuzzy relation of C1, C2, h is a FuzzySet of [:C1, C2 :], h. In the sequel f , g de...

In this paper I will introduce the trapezoidal intuitionistic fuzzy numbers (IF numbers) and will prove some operations for them. Also I am going to propose a new ordering method for IF numbers in which I will consider two characteristic values of membership and non-membership functions for an IF number. These values are defined by the integral of the inverse fuzzy membership and non-membership...

Fuzzification of support vector machine has been utilized to deal with outlier and noise problem. This importance is achieved, by the means of fuzzy membership function, which is generally built based on the distance of the points to the class centroid. The focus of this research is twofold. Firstly, by taking the advantage of robust statistics in the fuzzy SVM, more emphasis on reducing the im...

multi objective quadratic fractional programming (moqfp) problem involves optimization of several objective functions in the form of a ratio of numerator and denominator functions which involve both contains linear and quadratic forms with the assumption that the set of feasible solutions is a convex polyhedral with a nite number of extreme points and the denominator part of each of the object...