Evaluation of Investment Alternatives Using Present Value Analysis with Simplified Neutrosophic Sets

Creative Commons License

Aydin S., Kahraman C., KABAK M.

INZINERINE EKONOMIKA-ENGINEERING ECONOMICS, cilt.29, sa.3, ss.254-263, 2018 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 29 Sayı: 3
  • Basım Tarihi: 2018
  • Doi Numarası: 10.5755/j01.ee.29.3.19392
  • Dergi Adı: INZINERINE EKONOMIKA-ENGINEERING ECONOMICS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.254-263
  • Anahtar Kelimeler: Engineering Economics, Investment Analysis, Present Value Analysis, Neutrosophic Sets, Fuzzy Logic, DECISION-MAKING, FUZZY
  • Gazi Üniversitesi Adresli: Evet

Özet

Engineering economics is the collection of mathematical techniques that simplify economic comparisons of investment alternatives. Investment analysis is a branch of engineering economics, which focuses on choosing the most profitable investment option for a company. Because of vague, imprecise, and insufficient data in investment analysis, decision makers use fuzzy logic to make evaluation correctly under uncertainty. This paper develops simplified neutrosophic present worth analysis method in order to overcome difficulties in defining the membership functions of investment parameters. A numerical example illustrates the applications of the developed formulas. The results of the developed methodology are compared with classical present value analysis and intuitionistic present value analysis. The comparison results indicate that investment evaluation problem can be tackled by using the proposed methodology effectively.