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FUZZY ECONOMIC REVIEW, Volume VI

Ordering Ordinal Probability Distributions

Ronald R. Yager. Iona College

We consider the problem of ordering probability distributions which take the values in a set having only an ordering. Using the cumulative distribution function we are able to introduce some fundamental proper-ties required of such procedures. We then consider ordering procedures that are based on the mapping of a probability…
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Multivariate fuzzy-termed data analysis: issues and methods

Vasile Georgescu. University of Craiova

Abstracting the signification from an amorphous conglomerate of data requires appropriate techniques for making patent some latent cognitive structures. This paper is devoted to the challenging case when fuzzy-termed data occur in a survey. The fuzzy paradigm is inherently assumed, but the representation formalism related to it induces a higher…
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A model for pricing and option with a fuzzy payoff

Silvia Muzzioli. University of Bergamo

Costanza Torricelli. University of Modena

This paper sets up a one period model for pricing an option with a fuzzy payoff. The option is written on an underlying asset that has a fuzzy price at the end of the period, modelled by means of triangular fuzzy numbers. The pricing methodology used is the standard one…
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Debt: a factor of both "good" and "bad" stress during an economic recession: evidence from France

Michel Levasseur, Eric De Bodt, Eric Severin. Université de Lille 2

Since Modigliani and Miller (1958,1963), the relationship between debt and value still remains an open question. The numerous contributions of US research seem to show that the relationship between debt, performance and value is complex. The influence of debt on performance is affected by many factors such as economic cycle…
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Interpretation patterns and markets

Dinko Dimitrov. Ruhr-University Bochum

This paper presents a method for defining a consistent market through the interpretation of different agents´ opinions. We suppose that every agent has his own opinion about the other agents being his possible competitors or not. These opinions are ex-ante defined and therefore (for a definition of the correct market)…
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Evaluation of Fuzzy Rules Extracted from Data

Adam Schenker and Abraham Kandel. University of South Florida

Mark Last. Ben-Gurion University of the Negev

A general methodology for evaluation of fuzzy rules extracted from data is presented. Though the primary goal of most data mining systems is high classification or prediction accuracy, the user may be interested in rules which are not necessarily the most accurate. Our approach provides an alternative measure of rule…
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