Log in

+34 977 759833sigef@urv.cat

FUZZY ECONOMIC REVIEW

ISSN (print) 1136-0593 · ISSN (online) 2445-4192

Volume 21, Number 2, 2016

Simulation decomposition: new approach for better simulation analysis of multi-variable investment projects

M. Kozlova. School of Business and Management, Lappeenranta University of Technology, Skinnarilankatu 34, 53850 Lappeenranta, Finland.

M. Collan. School of Business and Management, Lappeenranta University of Technology, Skinnarilankatu 34, 53850 Lappeenranta, Finland.

P. Luukka. School of Business and Management, Lappeenranta University of Technology, Skinnarilankatu 34, 53850 Lappeenranta, Finland.

This paper presents a new method to enhance simulation-based analysis of complex investments that contain multi-variable uncertainty. The method is called “simulation decomposition”. Typically the result of simulation-based investment analysis is in the form of histogram distributions - here we propose a method for first classifying the possible outcomes of…
Read more...

Fuzzy grouping variables in economic analysis. a pilot study of a verification of a normative model for r&d alliances

A. Morreale. School of Business and Management, Lappeenranta University of Technology Skinnarilankatu 34, 53850 Lappeenranta, Finland.

J. Stoklasa. Palacký University, Olomouc, Faculty of Arts, Department of Applied Economics Křížkovského 8, 771 47 Olomouc, Czech Republic.

T. Talášek. Palacký University, Olomouc, Faculty of Arts, Department of Applied Economics Křížkovského 8, 771 47 Olomouc, Czech Republic.

Many of the investments decisions facing with uncertainty can be characterized as real options problems. There is evidence of deviation from the predictions derived using such normative models. The proposed research sheds light on the importance of integrating normative models with experimental methods in order to predict and explain such…
Read more...

Mixed models for risk aversion, optimal saving, and prudence

Irina Georgescu. Academy of Economic Studies.

Jani Kinnunen. Institute for Advanced Management Systems Research.

The models of this paper refer to mixed risk situations: one parameter is a fuzzy number and the other is a random variable. Three notions of mixed expected utility are proposed as a mathematical basis of these models. The results of the paper describe risk aversion and prudence of an…
Read more...

Real option approach for comparing lifetime costs of alternative diabetes type i treatment methods

Tero Haahtela. Department of Industrial Engineering and Management, Aalto University. PO Box 15500, FI- 00076, Aalto, Finland.

This paper compares with cash flow simulation real option valuation method the costs of treating diabetes type 1 (T1D) with the commonly used multiple daily injection (MDI) method and the novel method of combining insulin pump and continuous glucose monitoring (CSII + CGM) into a hybrid closed-loop system. Both direct…
Read more...

Similarity classifier with weighted ordered weighted averaging operator

O. Kurama. School of engineering sciences, Lappeenranta University of Technology, P.O.

P. Luukka. Dept. of Mathematics, Makerere University, P.O. Box 7062, Kampala, Uganda.

M. Collan. School of Business and Management, Lappeenranta University of Technology, P.O

In this paper we present a similarity-based classifier that utilizes a weighted ordered weighted averaging (WOWA) operator in the aggregation of infor-mation. The aggregation process used in the WOWA operator is studied and tested with five different Regular Increasing Monotonic (RIM) weight generators or quantifiers. The proposed approach is tested…
Read more...

Log in or Sign up

Cron Job Starts