Cost-Benefit Analysis and the Theory of Fuzzy Decisions


Book Description

Criticism is the habitus of the contemplative intellect, whereby we try to recognize with probability the genuine quality of a l- erary work by using appropriate aids and rules. In so doing, c- tain general and particular points must be considered. The art of interpretation or hermeneutics is the habitus of the contemplative intellect of probing into the sense of somewhat special text by using logical rules and suitable means. Note : Hermeneutics differs from criticism as the part does from the whole. Antonius Gvilielmus Amo Afer (1727) There is no such thing as absolute truth. At best it is a subj- tive criterion, but one based upon valuation. Unfortunately, too many people place their fate in the hands of subjective without properly evaluating it. Arnold A. Kaufmann and Madan M. Gupta The development of cost benefit analysis and the theory of fuzzy decision was divided into two inter-dependent structures of identification and measurement theory on one hand and fuzzy value theory one the other. Each of them has sub-theories that constitute a complete logical system.




Cost-Benefit Analysis and the Theory of Fuzzy Decisions


Book Description

The genus of definitions for the theoretical sciences is (the province of) the habitus of the intellective intention, for the practical sciences, however, that of the effective intention; the objects and ends constitute the specific differ ence There is nothing in the intellect that has not already been in the senses, that is, in the sensory organs, that has not already been in sensible things from which are distinguished things not perceptible to the senses. Nothing can be of the mind, sensation and the thing inferred therefrom except the operation itself. Real learning is cognition of things in themselves. It thus has the basis of its certainty in the known thing. This is established in two ways: by demon stration in the case of contemplative things, and by induction in the case of things perceptible to the senses. In contrast with real learning there is pos sible, probable and fictive learning. Antonius Gvilielmus Amo Afer (1827) This research has been long in the making. Its conception began in my last years in the doctoral program at Temple University, Philadelphia, Pa. It was simultaneously conceived with my two books on the Neo Keynesian Theory of Optimal aggregate investment and output dynamics [201] [202] as well as reflections on the methodology of decision-choice rationality and development economics [440] [441]. Economic theories and social policies were viewed to have, among other things, one impor tant thing in common in that they relate to decision making under different.




Cost-Benefit Analysis and the Theory of Fuzzy Decisions


Book Description

This monograph is devoted to the identification and measurement theory of costs and benefits in a fuzzy information environment. The process of cost-benefit analysis is presented, requiring the development of real cost-benefit databases and the construction of cost-benefit criterion. These steps are accomplished with various theoretical constructs that provide sets of self-contained algorithms for application. This book integrates cost-benefit analysis, theory of fuzzy decisions and social decisions into unified decision algorithms accessible to practitioners, researchers, and graduate students. It features the essentials of fuzzy mathematics and algorithms in a comprehensive way, exposing a multi-disciplinary approach for the development of cost-benefit decision making in the framework of fuzziness and soft computing.




Fuzziness, Democracy, Control and Collective Decision-choice System: A Theory on Political Economy of Rent-Seeking and Profit-Harvesting


Book Description

This volume presents an analysis of the problems and solutions of the market mockery of the democratic collective decision-choice system with imperfect information structure composed of defective and deceptive structures using methods of fuzzy rationality. The book is devoted to the political economy of rent-seeking, rent-protection and rent-harvesting to enhance profits under democratic collective decision-choice systems. The toolbox used in the monograph consists of methods of fuzzy decision, approximate reasoning, negotiation games and fuzzy mathematics. The monograph further discusses the rent-seeking phenomenon in the Schumpeterian and Marxian political economies where the rent-seeking activities transform the qualitative character of the general capitalism into oligarchic socialism and making the democratic collective decision-choice system as an ideology rather than social calculus for resolving conflicts in preferences in the collective decision-choice space without violence.




Fuzzy Rationality


Book Description

Philosophy involves a criticism of scientific knowledge, not from a point of view ultimately different from that of science, but from a point of view less concerned with details and more concerned with the h- mony of the body of special sciences. Here as elsewhere, while the older logic shut out possibilities and imprisoned imagination within the walls of the familiar, the newer logic shows rather what may happen, and refuses to decide as to what must happen. Bertrand Russell At any particular stage in the development of humanity knowledge comes up against limits set by the necessarily limited character of the experience available and the existing means of obtaining knowledge. But humanity advances by overcoming such limits. New experience throws down the limits of old experience; new techniques, new means of obtaining knowledge throw down the limits of old techniques and old means of obtaining knowledge. New limits then once again appear. But there is no more reason to suppose these new limits absolute and final than there was to suppose the old ones absolute and final.




Encyclopedia of Computer Science and Technology


Book Description

This 41st volume covers Application of Bayesan Belief Networks to Highway Construction to Virtual Reality Software and Technology.




Fuzziness and Approximate Reasoning


Book Description

We do not perceive the present as it is and in totality, nor do we infer the future from the present with any high degree of dependability, nor yet do we accurately know the consequences of our own actions. In addition, there is a fourth source of error to be taken into account, for we do not execute actions in the precise form in which they are imaged and willed. Frank H. Knight [R4.34, p. 202] The “degree” of certainty of confidence felt in the conclusion after it is reached cannot be ignored, for it is of the greatest practical signi- cance. The action which follows upon an opinion depends as much upon the amount of confidence in that opinion as it does upon fav- ableness of the opinion itself. The ultimate logic, or psychology, of these deliberations is obscure, a part of the scientifically unfathomable mystery of life and mind. Frank H. Knight [R4.34, p. 226-227] With some inaccuracy, description of uncertain consequences can be classified into two categories, those which use exclusively the language of probability distributions and those which call for some other principle, either to replace or supplement.