The paper explores properties of the Lukasiewicz μ-calculus, or Lμ for short, an extension of Lukasiewicz logic with scalar multiplication and least and greatest fixed-point operators (for monotone formulas). We observe that Lμ terms, with n variables, define monotone piecewise linear functions from [0, 1]n to [0, 1]. Two effective procedures for calculating the output of Lμ terms on rational i...