To have a means to have the possibility for a certain period to either choose for or against making an invetsment decision, without binding oneself up front. The real option rule is that one should invest today only if the net present value is high enough to compensate for giving up the value of...

Yager considered the problem of maximizing an OWA aggregation of a group of variables that are interrelated and constrained by a collection of linear inequalities and he showed how this problem can be modelled as a mixed integer linear programming problem. In this short communication we show a...

The mean-variance methodology for the portfolio selection problem, originally proposed by Markowitz, has been one of the most important research fields in modern finance. In this paper we will assume that (i) each investor can assign a welfare, or utility, score to competing investment...

In this position paper we shall undertake a critical scrutiny of the (DA) paradigm on the basis of experience we gained from working on the bullwhip effect. We had some success with sorting out the complexities of the bullwhip by using fuzzy numbers in the bullwhip models, and we found out that...

Dubois and Prade introduced the mean value of a fuzzy number as a closed interval bounded by the expectations calculated from its upper and lower distribution functions. In this paper introducing the notations of and mean values we definine the and investigate its relationship to the...

To have a means to have the possibility for a certain period to either choose for or against making an invetsment decision, without binding oneself up front. The real option rule is that one should invest today only if the net present value is high enough to compensate for giving up the value of...

Real Options analysis offers interesting insights on the value of assets and on the profitability of investments, which has made real options a growing field of academic research and practical application. Real option valuation is, however, often found to be difficult to understand and to...

Real Options analysis offers interesting insights on the value of assets and on the profitability of investments, which has made real options a growing field of academic research and practical application. Real option valuation is, however, often found to be difficult to understand and to...

In this paper we will introduce a measure of interactivity between marginal distributions of a joint possibility distribution as the expected value of the interactivity relation between the -level sets of its marginal distributions

It is usually supposed that tolerance levels are determined by the decision maker in flexible linear programming (FLP) problems. In this paper we shall suppose that the decision maker does not care about the particular values of tolerance levels, but he wishes to keep their sum below a...