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FUZZY ECONOMIC REVIEW

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

FUZZY ECONOMIC REVIEW, Volume 23

MULTIPLE CRITERIA MULTIPLE PEER-ASSESSMENT FOR AN ELEARNING ENVIRONMENT USING A LINGUISTIC SCORECARD FOR ON-LINE PEER-ASSESSMENT

Pasi Luukka. School of Business and Management, Lappeenranta University of Technology

Mikael Collan. School of Business and Management, Lappeenranta University of Technology

Peer-assessment between students is a way to include evaluation as a part of the learning process and to simultaneously cut teacher load in grading of assignments. eLearning systems can be used to automate peer-assessment to a large extent. Peer-assessment benefits from multiple-peer-assessment as it is likely to even-out outliers. Linguistic…
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VALUATION OF REAL OPTIONS IN INCOMPLETE MODELS – AN IMPLIED YIELD APPROACH

Fredrik Armerin. Department of Real Estate and Construction Management, School of Architecture and the Built Environment, KTH Royal Institute of Technology

Han-Suck Song. Department of Real Estate and Construction Management, School of Architecture and the Built Environment, KTH Royal Institute of Technology

In many applications of real options there is an assumption of complete capital markets. For the perpetual timing option this means that if the underlying asset does not pay out any cash flows, then there is no finite optimal time at which the investment should be undertaken. In contrast, when…
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ANOMALY INTERACTIONS AND THE CROSS-SECTION OF STOCK RETURNS

Ville Karell. Lappeenranta University of Technology, School of Business and Management

Julian S. Yeomans. Schulich School of Business, York University

This study provides new evidence on anomaly interactions, as well as on the cross-section of returns in all-but-microcap universe of U.S. stocks over the 42-year sample period from 1971 to 2013. The five anomalies being examined are size, value, profitability, investment/asset growth, and momentum. We form 5x5 conditional double-sort portfolios…
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NEW INVESTMENT DECISION-MAKING TOOL THAT COMBINES A FUZZY INFERENCE SYSTEM WITH REAL OPTION ANALYSIS

Mariia Kozlova. School of Business and Management, Lappeenranta University of Technology

Mikael Collan. School of Business and Management, Lappeenranta University of Technology

Pasi Luukka. School of Business and Management, Lappeenranta University of Technology

This paper proposes a new procedure for enriching investment and real option analysis performed with the fuzzy pay-off method by decomposing the pay-off distribution into multiple sub-distributions that correspond to different investment scenarios. This creates more information about the importance of the effect of selected factors to investment profitability. Furthermore,…
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