In this paper, a Multi-Choice Stochastic Bi-Level Programming Problem (MCSBLPP) is considered where all the parameters of constraints are followed by normal distribution. The cost coefficients of the objective functions are multi-choice types. At first, all the probabilistic constraints are...

Due to the uncertainty in reality consists of randomness and fuzziness, we employ stochastic analysis and fuzzy set theory to explore the pricing of geometric Asian options. In the fuzzy stochastic world, the price of the underlying asset is assumed to follow a fuzzy stochastic process of which...

This paper considers systems whose input signals are fuzzy stochastic processes of second order. The analysis is entirely restricted to discrete time linear time-invariant systems. Convergence conditions of the output are given. The equations on the mean value functions and the covariance...

This study examines the enduring spatial and racial dimensions of poverty and deprivation in South Africa to assess the progress made by the post-apartheid society and state. A multi-dimensional approach is required to assess progress because it can reflect the reduction in deprivation...

The paper suggests a hybrid approach to strategic diagnostics of the industry competition based on the application of M. Porter's model of five forces, tools of logical-linguistic modelling and the theory of fuzzy sets. Two complementary calculation schemes were developed to assess the level of...

Background: Functional regions are abstract, uniformly defined territorial units that form an important basis for many development strategies of a country or a region. Objectives: This study analyses the application of network theory to the detection of such regions. Methods/Approach: Functional...

Education is increasingly seen as a substitute for social policy, but opportunities for skill development vary by social background and educational institutions are not neutral in this respect. While previous research has extensively examined how schooling affects skills distribution, the role...