An application of investment decision with random fuzzy outcomes

SAKALLI Ü. S., BAYKOÇ Ö. F.

EXPERT SYSTEMS WITH APPLICATIONS, cilt.37, sa.4, ss.3405-3414, 2010 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 37 Sayı: 4
  • Basım Tarihi: 2010
  • Doi Numarası: 10.1016/j.eswa.2009.10.007
  • Dergi Adı: EXPERT SYSTEMS WITH APPLICATIONS
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Sayfa Sayıları: ss.3405-3414
  • Gazi Üniversitesi Adresli: Evet

Özet

In this study, an investment problem associated with purchasing machine is solved by using decision trees method. The main difference of this paper from the others in the decision tree literature is using random fuzzy variables, which includes randomness and fuzziness simultaneously, for modeling demand quantities and demand state probabilities. Demand quantities and demand state probabilities are modeled as a continuous and discrete random fuzzy variables, respectively. The random fuzzy variables are transformed to fuzzy variables and crisp numbers by using the properties of the random fuzzy variable, fuzzy variable and normal distribution. After the transformation, the chance and decision nodes removals processes are performed to solve the problem. (C) 2009 Elsevier Ltd. All rights reserved.