Fuzzy Sets in Business Management, Finance, and Economics, 2nd Edition


Book Description

Since the publication of Lotfi A. Zadeh's seminal paper "Fuzzy Sets" in 1965 within the journal Information and Control, there has been constant growth in the theoretical developments and practical applications of fuzzy set theory and related mathematical tools. These tools have been applied widely, both by industry and academic research, to decision-making and economics due to their versatility. On the one hand, they can efficiently represent and handle uncertain and vague information such as subjective judgements, non-precise observations on variables, or ill-defined relations between variables. On the other hand, they make implementing computations or identifying patterns in data much easier. To do so, fuzzy set theory provides a lot of mathematical techniques in fields such as fuzzy data analysis, fuzzy multiple criteria decision making, fuzzy set qualitative comparative analysis or fuzzy expert systems. Business management, decision-making, or the evaluation of public policies are some examples of practical applications in these fields. This Special Issue has provided a platform for researchers from academia and industry to present their novel works in the domain of applied developments of fuzzy sets and related methodologies for business, financial, and economic analysis. We hope that these results will help to foster future research in the fields of economics and social sciences.




Fuzzy Logic For Business, Finance, And Management (2nd Edition)


Book Description

This is truly an interdisciplinary book for knowledge workers in business, finance, management and socio-economic sciences based on fuzzy logic. It serves as a guide to and techniques for forecasting, decision making and evaluations in an environment involving uncertainty, vagueness, impression and subjectivity. Traditional modeling techniques, contrary to fuzzy logic, do not capture the nature of complex systems especially when humans are involved. Fuzzy logic uses human experience and judgement to facilitate plausible reasoning in order to reach a conclusion. Emphasis is on applications presented in the 27 case studies including Time Forecasting for Project Management, New Product Pricing, and Control of a Parasit-Pest System.




Fuzzy Sets in Management, Economics, and Marketing


Book Description

The rapid changes that have taken place globally on the economic, social and business fronts characterized the 20th century. The magnitude of these changes has formed an extremely complex and unpredictable decision-making framework, which is difficult to model through traditional approaches. The main purpose of this book is to present the most recent advances in the development of innovative techniques for managing the uncertainty that prevails in the global economic and management environments. These techniques originate mainly from fuzzy sets theory. However, the book also explores the integration of fuzzy sets with other decision support and modeling disciplines, such as multicriteria decision aid, neural networks, genetic algorithms, machine learning, chaos theory, etc. The presentation of the advances in these fields and their real world applications adds a new perspective to the broad fields of management science and economics. Contents: Decision Making, Management and Marketing: Algorithms for Orderly Structuring of Financial OC ObjectsOCO (J Gil-Aluja); A Fuzzy Goal Programming Model for Evaluating a Hospital Service Performance (M Arenas et al.); A Group Decision Making Method Using Fuzzy Triangular Numbers (J L Garc a-Lapresta et al.); Developing Sorting Models Using Preference Disaggregation Analysis: An Experimental Investigation (M Doumpos & C Zopounidis); Stock Markets and Portfolio Management: The Causality Between Interest Rate, Exchange Rate and Stock Price in Emerging Markets: The Case of the Jakarta Stock Exchange (J Gupta et al.); Fuzzy Cognitive Maps in Stock Market (D Koulouriotis et al.); Neural Network vs Linear Models of Stock Returns: An Application to the UK and German Stock Market Indices (A Kanas); Corporate Finance and Banking Management: Expertons and Behaviour of Companies with Regard to the Adequacy Between Business Decisions and Objectives (A Couturier & B Fioleau); Multiple Fuzzy IRR in the Financial Decision Environment (S F Gonzilez et al.); An Automated Knowledge Generation Approach for Managing Credit Scoring Problems (M Michalopoulos et al.); and other papers. Readership: Financial managers, economists, management scientists and computer scientists."




Fuzzy Logic for Business, Finance, and Management


Book Description

This is truly an interdisciplinary book for knowledge workers in business, finance, management and socio-economic sciences based on fuzzy logic. It serves as a guide to and techniques for forecasting, decision making and evaluations in an environment involving uncertainty, vagueness, impression and subjectivity. Traditional modeling techniques, contrary to fuzzy logic, do not capture the nature of complex systems especially when humans are involved. Fuzzy logic uses human experience and judgement to facilitate plausible reasoning in order to reach a conclusion. Emphasis is on applications presented in the 27 case studies including Time Forecasting for Project Management, New Product Pricing, and Control of a Parasit-Pest System.




Meta-Heuristics Optimization Algorithms in Engineering, Business, Economics, and Finance


Book Description

Optimization techniques have developed into a significant area concerning industrial, economics, business, and financial systems. With the development of engineering and financial systems, modern optimization has played an important role in service-centered operations and as such has attracted more attention to this field. Meta-heuristic hybrid optimization is a newly development mathematical framework based optimization technique. Designed by logicians, engineers, analysts, and many more, this technique aims to study the complexity of algorithms and problems. Meta-Heuristics Optimization Algorithms in Engineering, Business, Economics, and Finance explores the emerging study of meta-heuristics optimization algorithms and methods and their role in innovated real world practical applications. This book is a collection of research on the areas of meta-heuristics optimization algorithms in engineering, business, economics, and finance and aims to be a comprehensive reference for decision makers, managers, engineers, researchers, scientists, financiers, and economists as well as industrialists.




Fuzzy Sets in Business Management, Finance, and Economics


Book Description

This book collects fifteen papers published in s Special Issue of Mathematics titled "Fuzzy Sets in Business Management, Finance, and Economics", which was published in 2021. These paper cover a wide range of different tools from Fuzzy Set Theory and applications in many areas of Business Management and other connected fields. Specifically, this book contains applications of such instruments as, among others, Fuzzy Set Qualitative Comparative Analysis, Neuro-Fuzzy Methods, the Forgotten Effects Algorithm, Expertons Theory, Fuzzy Markov Chains, Fuzzy Arithmetic, Decision Making with OWA Operators and Pythagorean Aggregation Operators, Fuzzy Pattern Recognition, and Intuitionistic Fuzzy Sets. The papers in this book tackle a wide variety of problems in areas such as strategic management, sustainable decisions by firms and public organisms, tourism management, accounting and auditing, macroeconomic modelling, the evaluation of public organizations and universities, and actuarial modelling. We hope that this book will be useful not only for business managers, public decision-makers, and researchers in the specific fields of business management, finance, and economics but also in the broader areas of soft mathematics in social sciences. Practitioners will find methods and ideas that could be fruitful in current management issues. Scholars will find novel developments that may inspire further applications in the social sciences.




Fuzzy Business Models and ESG Risk


Book Description

This book discusses fuzzy business models and focuses on using fuzzy logic in business processes from the perspective of financial institutions when integrating ESG factors and risk. Developing and examining sustainable business models requires an appropriate methodology that would consider the specificity of business models because the measurement of this phenomenon is often based on values from specific ranges and requires a fuzzy approach. According to the law, regulations, and recommendations, financial institutions and businesses must incorporate Environmental Social Governance factors and ESG risk in their decision-making process. Sustainable financial institutions include ESG risk in their risk management system, strategies, and policies. As a result, they hope to mitigate ESG risk and create sustainable value in their business models with an impact on sustainable value creation. This book discusses this phenomenon in detail. One of the first on the market to address the issue of fuzzy business models, the book also deals comprehensively with the fuzzy logic in modeling business processes, decision-making processes, and business models using examples from financial institutions, and will be of interest to researchers, professors, and students of sustainable finance, banking, and sustainable development alongside corporate sustainability.




Computational Intelligence in Economics and Finance


Book Description

Due to the ability to handle specific characteristics of economics and finance forecasting problems like e.g. non-linear relationships, behavioral changes, or knowledge-based domain segmentation, we have recently witnessed a phenomenal growth of the application of computational intelligence methodologies in this field. In this volume, Chen and Wang collected not just works on traditional computational intelligence approaches like fuzzy logic, neural networks, and genetic algorithms, but also examples for more recent technologies like e.g. rough sets, support vector machines, wavelets, or ant algorithms. After an introductory chapter with a structural description of all the methodologies, the subsequent parts describe novel applications of these to typical economics and finance problems like business forecasting, currency crisis discrimination, foreign exchange markets, or stock markets behavior.




Investment Appraisal


Book Description

This book provides an introduction to investment appraisal and presents a range of methods and models, some of which are not widely known, or at least not well covered by other textbooks. Each approach is thoroughly described, evaluated and illustrated using examples, with its assumptions and limitations analyzed in terms of their implications for investment decision-making practice. Investment decisions are of vital importance to all companies. Getting these decisions right is crucial but, due to a complex and dynamic business environment, this remains a challenging management task. Effective appraisal methods are valuable tools in supporting investment decision-making. As organisations continue to seek a competitive edge, it is increasingly important that management accountants and strategic decision-makers have a sound knowledge of these tools.




Knowledge Processing with Interval and Soft Computing


Book Description

Interval computing combined with fuzzy logic has become an emerging tool in studying artificial intelligence and knowledge processing (AIKP) applications since it models uncertainties frequently raised in the field. This book provides introductions for both interval and fuzzy computing in a very accessible style. Application algorithms covered in this book include quantitative and qualitative data mining with interval valued datasets, decision making systems with interval valued parameters, interval valued Nash games and interval weighted graphs. Successful applications in studying finance and economics, etc are also included. This book can serve as a handbook or a text for readers interested in applying interval and soft computing for AIKP.