Search results for: Fuzzy Numbers
1395 A New Class χ2 (M, A,) of the Double Difference Sequences of Fuzzy Numbers
Authors: N.Subramanian, U.K.Misra
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The aim of this paper is to introduce and study a new concept of strong double χ2 (M,A, Δ) of fuzzy numbers and also some properties of the resulting sequence spaces of fuzzy numbers were examined.
Keywords: Modulus function, fuzzy number, metric space.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22991394 Applying Half-Circle Fuzzy Numbers to Control System: A Preliminary Study on Development of Intelligent System on Marine Environment and Engineering
Authors: Chen-Yuan Chen, Wan-I Lee, Yi-Chaio Sui, Cheng-Wu Chen
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This study focuses on the development of triangular fuzzy numbers, the revising of triangular fuzzy numbers, and the constructing of a HCFN (half-circle fuzzy number) model which can be utilized to perform more plural operations. They are further transformed for trigonometric functions and polar coordinates. From half-circle fuzzy numbers we can conceive cylindrical fuzzy numbers, which work better in algebraic operations. An example of fuzzy control is given in a simulation to show the applicability of the proposed half-circle fuzzy numbers.
Keywords: triangular fuzzy number, half-circle fuzzy numbers, predictions, polar coordinates, Lyapunov method
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24361393 On λ− Summable of Orlicz Space of Gai Sequences of Fuzzy Numbers
Authors: N.Subramanian, S.Krishnamoorthy, S. Balasubramanian
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In this paper the concept of strongly (λM)p - Ces'aro summability of a sequence of fuzzy numbers and strongly λM- statistically convergent sequences of fuzzy numbers is introduced.Keywords: Fuzzy numbers, statistical convergence, Orlicz space, gai sequence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19531392 On λ− Summable of Orlicz Space of Entire Sequences of Fuzzy Numbers
Authors: N. Subramanian, U. K. Misra, M. S. Panda
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In this paper the concept of strongly (λM)p - Ces'aro summability of a sequence of fuzzy numbers and strongly λM- statistically convergent sequences of fuzzy numbers is introduced.Keywords: Fuzzy numbers, statistical convergence, Orlicz space, entire sequence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19211391 Ranking Fuzzy Numbers Based On Epsilon-Deviation Degree
Authors: Vincent F. Yu, Ha Thi Xuan Chi
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Nejad and Mashinchi (2011) proposed a revision for ranking fuzzy numbers based on the areas of the left and the right sides of a fuzzy number. However, this method still has some shortcomings such as lack of discriminative power to rank similar fuzzy numbers and no guarantee the consistency between the ranking of fuzzy numbers and the ranking of their images. To overcome these drawbacks, we propose an epsilon-deviation degree method based on the left area and the right area of a fuzzy number, and the concept of the centroid point. The main advantage of the new approach is the development of an innovative index value which can be used to consistently evaluate and rank fuzzy numbers. Numerical examples are presented to illustrate the efficiency and superiority of the proposed method.
Keywords: Ranking fuzzy numbers, Centroid, Deviation degree.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15861390 Dependent Weighted Aggregation Operators of Hesitant Fuzzy Numbers
Authors: Jing Liu
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In this paper, motivated by the ideas of dependent weighted aggregation operators, we develop some new hesitant fuzzy dependent weighted aggregation operators to aggregate the input arguments taking the form of hesitant fuzzy numbers rather than exact numbers, or intervals. In fact, we propose three hesitant fuzzy dependent weighted averaging(HFDWA) operators, and three hesitant fuzzy dependent weighted geometric(HFDWG) operators based on different weight vectors, and the most prominent characteristic of these operators is that the associated weights only depend on the aggregated hesitant fuzzy numbers and can relieve the influence of unfair hesitant fuzzy numbers on the aggregated results by assigning low weights to those “false” and “biased” ones. Some examples are given to illustrated the efficiency of the proposed operators.
Keywords: Hesitant fuzzy numbers, hesitant fuzzy dependent weighted averaging(HFDWA) operators, hesitant fuzzy dependent weighted geometric(HFDWG) operators.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17761389 Method for Solving Fully Fuzzy Assignment Problems Using Triangular Fuzzy Numbers
Authors: Amit Kumar, Anila Gupta, Amarpreet Kaur
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In this paper, a new method is proposed to find the fuzzy optimal solution of fuzzy assignment problems by representing all the parameters as triangular fuzzy numbers. The advantages of the pro-posed method are also discussed. To illustrate the proposed method a fuzzy assignment problem is solved by using the proposed method and the obtained results are discussed. The proposed method is easy to understand and to apply for finding the fuzzy optimal solution of fuzzy assignment problems occurring in real life situations.
Keywords: Fuzzy assignment problem, Ranking function, Triangular fuzzy numbers.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17001388 Genetic Algorithm with Fuzzy Genotype Values and Its Application to Neuroevolution
Authors: Hidehiko Okada
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The author proposes an extension of genetic algorithm (GA) for solving fuzzy-valued optimization problems. In the proposed GA, values in the genotypes are not real numbers but fuzzy numbers. Evolutionary processes in GA are extended so that GA can handle genotype instances with fuzzy numbers. The proposed method is applied to evolving neural networks with fuzzy weights and biases. Experimental results showed that fuzzy neural networks evolved by the fuzzy GA could model hidden target fuzzy functions well despite the fact that no training data was explicitly provided.
Keywords: Evolutionary algorithm, genetic algorithm, fuzzy number, neural network, neuroevolution.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23031387 Reliability Evaluation using Triangular Intuitionistic Fuzzy Numbers Arithmetic Operations
Authors: G. S. Mahapatra, T. K. Roy
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In general fuzzy sets are used to analyze the fuzzy system reliability. Here intuitionistic fuzzy set theory for analyzing the fuzzy system reliability has been used. To analyze the fuzzy system reliability, the reliability of each component of the system as a triangular intuitionistic fuzzy number is considered. Triangular intuitionistic fuzzy number and their arithmetic operations are introduced. Expressions for computing the fuzzy reliability of a series system and a parallel system following triangular intuitionistic fuzzy numbers have been described. Here an imprecise reliability model of an electric network model of dark room is taken. To compute the imprecise reliability of the above said system, reliability of each component of the systems is represented by triangular intuitionistic fuzzy numbers. Respective numerical example is presented.Keywords: Fuzzy set, Intuitionistic fuzzy number, Systemreliability, Triangular intuitionistic fuzzy number.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 31751386 Evolution of Fuzzy Neural Networks Using an Evolution Strategy with Fuzzy Genotype Values
Authors: Hidehiko Okada
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Evolution strategy (ES) is a well-known instance of evolutionary algorithms, and there have been many studies on ES. In this paper, the author proposes an extended ES for solving fuzzy-valued optimization problems. In the proposed ES, genotype values are not real numbers but fuzzy numbers. Evolutionary processes in the ES are extended so that it can handle genotype instances with fuzzy numbers. In this study, the proposed method is experimentally applied to the evolution of neural networks with fuzzy weights and biases. Results reveal that fuzzy neural networks evolved using the proposed ES with fuzzy genotype values can model hidden target fuzzy functions even though no training data are explicitly provided. Next, the proposed method is evaluated in terms of variations in specifying fuzzy numbers as genotype values. One of the mostly adopted fuzzy numbers is a symmetric triangular one that can be specified by its lower and upper bounds (LU) or its center and width (CW). Experimental results revealed that the LU model contributed better to the fuzzy ES than the CW model, which indicates that the LU model should be adopted in future applications of the proposed method.
Keywords: Evolutionary algorithm, evolution strategy, fuzzy number, feedforward neural network, neuroevolution.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15461385 A New Approach For Ranking Of Generalized Trapezoidal Fuzzy Numbers
Authors: Amit Kumar, Pushpinder Singh, Parampreet Kaur, Amarpreet Kaur
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Ranking of fuzzy numbers play an important role in decision making, optimization, forecasting etc. Fuzzy numbers must be ranked before an action is taken by a decision maker. In this paper, with the help of several counter examples it is proved that ranking method proposed by Chen and Chen (Expert Systems with Applications 36 (2009) 6833-6842) is incorrect. The main aim of this paper is to propose a new approach for the ranking of generalized trapezoidal fuzzy numbers. The main advantage of the proposed approach is that the proposed approach provide the correct ordering of generalized and normal trapezoidal fuzzy numbers and also the proposed approach is very simple and easy to apply in the real life problems. It is shown that proposed ranking function satisfies all the reasonable properties of fuzzy quantities proposed by Wang and Kerre (Fuzzy Sets and Systems 118 (2001) 375-385).Keywords: Ranking function, Generalized trapezoidal fuzzy numbers
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27181384 Ranking Fuzzy Numbers Based on Lexicographical Ordering
Authors: B. Farhadinia
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Although so far, many methods for ranking fuzzy numbers have been discussed broadly, most of them contained some shortcomings, such as requirement of complicated calculations, inconsistency with human intuition and indiscrimination. The motivation of this study is to develop a model for ranking fuzzy numbers based on the lexicographical ordering which provides decision-makers with a simple and efficient algorithm to generate an ordering founded on a precedence. The main emphasis here is put on the ease of use and reliability. The effectiveness of the proposed method is finally demonstrated by including a comprehensive comparing different ranking methods with the present one.Keywords: Ranking fuzzy numbers, Lexicographical ordering.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18121383 Using Fuzzy Numbers in Heavy Aggregation Operators
Authors: José M. Merigó, Montserrat Casanovas
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We consider different types of aggregation operators such as the heavy ordered weighted averaging (HOWA) operator and the fuzzy ordered weighted averaging (FOWA) operator. We introduce a new extension of the OWA operator called the fuzzy heavy ordered weighted averaging (FHOWA) operator. The main characteristic of this aggregation operator is that it deals with uncertain information represented in the form of fuzzy numbers (FN) in the HOWA operator. We develop the basic concepts of this operator and study some of its properties. We also develop a wide range of families of FHOWA operators such as the fuzzy push up allocation, the fuzzy push down allocation, the fuzzy median allocation and the fuzzy uniform allocation.Keywords: Aggregation operators, Fuzzy numbers, Fuzzy OWAoperator, Heavy OWA operator.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16011382 On the Fuzzy Difference Equation xn+1 = A +
Authors: Qianhong Zhang, Lihui Yang, Daixi Liao,
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In this paper, we study the existence, the boundedness and the asymptotic behavior of the positive solutions of a fuzzy nonlinear difference equations xn+1 = A + k i=0 Bi xn-i , n= 0, 1, · · · . where (xn) is a sequence of positive fuzzy numbers, A,Bi and the initial values x-k, x-k+1, · · · , x0 are positive fuzzy numbers. k ∈ {0, 1, 2, · · ·}.
Keywords: Fuzzy difference equation, boundedness, persistence, equilibrium point, asymptotic behaviour.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16171381 The Orlicz Space of the Entire Sequence Fuzzy Numbers Defined by Infinite Matrices
Authors: N.Subramanian, C.Murugesan
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This paper is devoted to the study of the general properties of Orlicz space of entire sequence of fuzzy numbers by using infinite matrices.
Keywords: Fuzzy numbers, infinite matrix, Orlicz space, entiresequence.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12071380 On Some Subspaces of Entire Sequence Space of Fuzzy Numbers
Authors: T. Balasubramanian, A. Pandiarani
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In this paper we introduce some subspaces of fuzzy entire sequence space. Some general properties of these sequence spaces are discussed. Also some inclusion relation involving the spaces are obtained. Mathematics Subject Classification: 40A05, 40D25.
Keywords: Fuzzy Numbers, Entire sequences, completeness, Fuzzy entire sequences
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12421379 A New Reliability Allocation Method Based On Fuzzy Numbers
Authors: Peng Li, Chuanri Li, Tao Li
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Reliability allocation is quite important during early design and development stages for a system to apportion its specified reliability goal to subsystems. This paper improves the reliability fuzzy allocation method, and gives concrete processes on determining the factor and sub-factor sets, weight sets, judgment set, and multi-stage fuzzy evaluation. To determine the weight of factor and sub-factor sets, the modified trapezoidal numbers are proposed to reduce errors caused by subjective factors. To decrease the fuzziness in fuzzy division, an approximation method based on linear programming is employed. To compute the explicit values of fuzzy numbers, centroid method of defuzzification is considered. An example is provided to illustrate the application of the proposed reliability allocation method based on fuzzy arithmetic.
Keywords: Reliability allocation, fuzzy arithmetic, allocation weight.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 33301378 Compromise Ratio Method for Decision Making under Fuzzy Environment using Fuzzy Distance Measure
Authors: Debashree Guha, Debjani Chakraborty
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The aim of this paper is to adopt a compromise ratio (CR) methodology for fuzzy multi-attribute single-expert decision making proble. In this paper, the rating of each alternative has been described by linguistic terms, which can be expressed as triangular fuzzy numbers. The compromise ratio method for fuzzy multi-attribute single expert decision making has been considered here by taking the ranking index based on the concept that the chosen alternative should be as close as possible to the ideal solution and as far away as possible from the negative-ideal solution simultaneously. From logical point of view, the distance between two triangular fuzzy numbers also is a fuzzy number, not a crisp value. Therefore a fuzzy distance measure, which is itself a fuzzy number, has been used here to calculate the difference between two triangular fuzzy numbers. Now in this paper, with the help of this fuzzy distance measure, it has been shown that the compromise ratio is a fuzzy number and this eases the problem of the decision maker to take the decision. The computation principle and the procedure of the compromise ratio method have been described in detail in this paper. A comparative analysis of the compromise ratio method previously proposed [1] and the newly adopted method have been illustrated with two numerical examples.
Keywords: Compromise ratio method, Fuzzy multi-attributesingle-expert decision making, Fuzzy number, Linguistic variable
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14121377 An Interval Type-2 Dual Fuzzy Polynomial Equations and Ranking Method of Fuzzy Numbers
Authors: Nurhakimah Ab. Rahman, Lazim Abdullah
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According to fuzzy arithmetic, dual fuzzy polynomials cannot be replaced by fuzzy polynomials. Hence, the concept of ranking method is used to find real roots of dual fuzzy polynomial equations. Therefore, in this study we want to propose an interval type-2 dual fuzzy polynomial equation (IT2 DFPE). Then, the concept of ranking method also is used to find real roots of IT2 DFPE (if exists). We transform IT2 DFPE to system of crisp IT2 DFPE. This transformation performed with ranking method of fuzzy numbers based on three parameters namely value, ambiguity and fuzziness. At the end, we illustrate our approach by two numerical examples.
Keywords: Dual fuzzy polynomial equations, Interval type-2, Ranking method, Value.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17651376 Fuzzy Uncertainty Theory for Stealth Fighter Aircraft Selection in Entropic Fuzzy TOPSIS Decision Analysis Process
Authors: C. Ardil
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The purpose of this paper is to present fuzzy TOPSIS in an entropic fuzzy environment. Due to the ambiguous concepts often represented in decision data, exact values are insufficient to model real-life situations. In this paper, the rating of each alternative is defined in fuzzy linguistic terms, which can be expressed with triangular fuzzy numbers. The weight of each criterion is then derived from the decision matrix using the entropy weighting method. Next, a vertex method is proposed to calculate the distance between two triangular fuzzy numbers. According to the TOPSIS concept, a closeness coefficient is defined to determine the ranking order of all alternatives by simultaneously calculating the distances to both the fuzzy positive-ideal solution (FPIS) and the fuzzy negative-ideal solution (FNIS). Finally, an illustrative example of selecting stealth fighter aircraft is shown at the end of this article to highlight the procedure of the proposed method. Correlation analysis and validation analysis using TOPSIS, WSM, and WPM methods were performed to compare the ranking order of the alternatives.
Keywords: stealth fighter aircraft selection, fuzzy uncertainty theory (FUT), fuzzy entropic decision (FED), fuzzy linguistic variables, triangular fuzzy numbers, multiple criteria decision making analysis, MCDMA, TOPSIS, WSM, WPM
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6031375 A Centroid Ranking Approach Based Fuzzy MCDM Model
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This paper suggests ranking alternatives under fuzzy MCDM (multiple criteria decision making) via an centroid based ranking approach, where criteria are classified to benefit qualitative, benefit quantitative and cost quantitative ones. The ratings of alternatives versus qualitative criteria and the importance weights of all criteria are assessed in linguistic values represented by fuzzy numbers. The membership function for the final fuzzy evaluation value of each alternative can be developed through α-cuts and interval arithmetic of fuzzy numbers. The distance between the original point and the relative centroid is applied to defuzzify the final fuzzy evaluation values in order to rank alternatives. Finally a numerical example demonstrates the computation procedure of the proposed model.
Keywords: Fuzzy MCDM, Criteria, Fuzzy number, Ranking, Relative centroid.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16761374 Fuzzy Hierarchical Clustering Applied for Quality Estimation in Manufacturing System
Authors: Y. Q. Lv, C.K.M. Lee
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This paper develops a quality estimation method with the application of fuzzy hierarchical clustering. Quality estimation is essential to quality control and quality improvement as a precise estimation can promote a right decision-making in order to help better quality control. Normally the quality of finished products in manufacturing system can be differentiated by quality standards. In the real life situation, the collected data may be vague which is not easy to be classified and they are usually represented in term of fuzzy number. To estimate the quality of product presented by fuzzy number is not easy. In this research, the trapezoidal fuzzy numbers are collected in manufacturing process and classify the collected data into different clusters so as to get the estimation. Since normal hierarchical clustering methods can only be applied for real numbers, fuzzy hierarchical clustering is selected to handle this problem based on quality standards.Keywords: Quality Estimation, Fuzzy Quality Mean, Fuzzy Hierarchical Clustering, Fuzzy Number, Manufacturing system
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16681373 Simplex Method for Solving Linear Programming Problems with Fuzzy Numbers
Authors: S. H. Nasseri, E. Ardil, A. Yazdani, R. Zaefarian
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The fuzzy set theory has been applied in many fields, such as operations research, control theory, and management sciences, etc. In particular, an application of this theory in decision making problems is linear programming problems with fuzzy numbers. In this study, we present a new method for solving fuzzy number linear programming problems, by use of linear ranking function. In fact, our method is similar to simplex method that was used for solving linear programming problems in crisp environment before.Keywords: Fuzzy number linear programming, rankingfunction, simplex method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 35291372 The Intuitionistic Fuzzy Ordered Weighted Averaging-Weighted Average Operator and its Application in Financial Decision Making
Authors: Shouzhen Zeng
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We present a new intuitionistic fuzzy aggregation operator called the intuitionistic fuzzy ordered weighted averaging-weighted average (IFOWAWA) operator. The main advantage of the IFOWAWA operator is that it unifies the OWA operator with the WA in the same formulation considering the degree of importance that each concept has in the aggregation. Moreover, it is able to deal with an uncertain environment that can be assessed with intuitionistic fuzzy numbers. We study some of its main properties and we see that it has a lot of particular cases such as the intuitionistic fuzzy weighted average (IFWA) and the intuitionistic fuzzy OWA (IFOWA) operator. Finally, we study the applicability of the new approach on a financial decision making problem concerning the selection of financial strategies.Keywords: Intuitionistic fuzzy numbers, Weighted average, OWA operator, Financial decision making
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24421371 Reliability Analysis of k-out-of-n : G System Using Triangular Intuitionistic Fuzzy Numbers
Authors: Tanuj Kumar, Rakesh Kumar Bajaj
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In the present paper, we analyze the vague reliability of k-out-of-n : G system (particularly, series and parallel system) with independent and non-identically distributed components, where the reliability of the components are unknown. The reliability of each component has been estimated using statistical confidence interval approach. Then we converted these statistical confidence interval into triangular intuitionistic fuzzy numbers. Based on these triangular intuitionistic fuzzy numbers, the reliability of the k-out-of-n : G system has been calculated. Further, in order to implement the proposed methodology and to analyze the results of k-out-of-n : G system, a numerical example has been provided.
Keywords: Vague set, vague reliability, triangular intuitionistic fuzzy number, k-out-of-n : G system, series and parallel system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29821370 A Genetic Algorithm Approach for Solving Fuzzy Linear and Quadratic Equations
Authors: M. Hadi Mashinchi, M. Reza Mashinchi, Siti Mariyam H. J. Shamsuddin
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In this paper a genetic algorithms approach for solving the linear and quadratic fuzzy equations Ãx̃=B̃ and Ãx̃2 + B̃x̃=C̃ , where Ã, B̃, C̃ and x̃ are fuzzy numbers is proposed by genetic algorithms. Our genetic based method initially starts with a set of random fuzzy solutions. Then in each generation of genetic algorithms, the solution candidates converge more to better fuzzy solution x̃b . In this proposed method the final reached x̃b is not only restricted to fuzzy triangular and it can be fuzzy number.
Keywords: Fuzzy coefficient, fuzzy equation, genetic algorithms.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21911369 Solution of Fuzzy Maximal Flow Problems Using Fuzzy Linear Programming
Authors: Amit Kumar, Manjot Kaur
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In this paper, the fuzzy linear programming formulation of fuzzy maximal flow problems are proposed and on the basis of the proposed formulation a method is proposed to find the fuzzy optimal solution of fuzzy maximal flow problems. In the proposed method all the parameters are represented by triangular fuzzy numbers. By using the proposed method the fuzzy optimal solution of fuzzy maximal flow problems can be easily obtained. To illustrate the proposed method a numerical example is solved and the obtained results are discussed.Keywords: Fuzzy linear programming, Fuzzy maximal flow problem, Ranking function, Triangular fuzzy number
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19771368 Fuzzy Numbers and MCDM Methods for Portfolio Optimization
Authors: Thi T. Nguyen, Lee N. Gordon-Brown
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A new deployment of the multiple criteria decision making (MCDM) techniques: the Simple Additive Weighting (SAW), and the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) for portfolio allocation, is demonstrated in this paper. Rather than exclusive reference to mean and variance as in the traditional mean-variance method, the criteria used in this demonstration are the first four moments of the portfolio distribution. Each asset is evaluated based on its marginal impacts to portfolio higher moments that are characterized by trapezoidal fuzzy numbers. Then centroid-based defuzzification is applied to convert fuzzy numbers to the crisp numbers by which SAW and TOPSIS can be deployed. Experimental results suggest the similar efficiency of these MCDM approaches to selecting dominant assets for an optimal portfolio under higher moments. The proposed approaches allow investors flexibly adjust their risk preferences regarding higher moments via different schemes adapting to various (from conservative to risky) kinds of investors. The other significant advantage is that, compared to the mean-variance analysis, the portfolio weights obtained by SAW and TOPSIS are consistently well-diversified.Keywords: Fuzzy numbers, SAW, TOPSIS, portfolio optimization, higher moments, risk management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21441367 A New Class F2 (M, 0, N)L„ p)F of The Double Difference Sequences of Fuzzy Numbers
Authors: N. Subramanian, C. Murugesan
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The double difference sequence space I2 (M, of fuzzy numbers for both 1 < p < oo and 0 < p < 1, is introduced. Some general properties of this sequence space are studied. Some inclusion relations involving this sequence space are obtained.
Keywords: Orlicz function, solid space, metric space, completeness
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10151366 A New Approach of Fuzzy Methods for Evaluating of Hydrological Data
Authors: Nasser Shamskia, Seyyed Habib Rahmati, Hassan Haleh , Seyyedeh Hoda Rahmati
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The main criteria of designing in the most hydraulic constructions essentially are based on runoff or discharge of water. Two of those important criteria are runoff and return period. Mostly, these measures are calculated or estimated by stochastic data. Another feature in hydrological data is their impreciseness. Therefore, in order to deal with uncertainty and impreciseness, based on Buckley-s estimation method, a new fuzzy method of evaluating hydrological measures are developed. The method introduces triangular shape fuzzy numbers for different measures in which both of the uncertainty and impreciseness concepts are considered. Besides, since another important consideration in most of the hydrological studies is comparison of a measure during different months or years, a new fuzzy method which is consistent with special form of proposed fuzzy numbers, is also developed. Finally, to illustrate the methods more explicitly, the two algorithms are tested on one simple example and a real case study.Keywords: Fuzzy Discharge, Fuzzy estimation, Fuzzy ranking method, Hydrological data
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1713