Fuzzy portfolio selection has been widely studied within the framework of the credibility theory. However, all existing models provide only concentrated investment solutions, which contradicts the risk diversification concept in the classical portfolio selection theory. In this paper, we propose...

The expected returns for securities are traditionally estimated as crisp values. Since the improper values may bring on an unsuccessful investment decision, portfolio experts generally prefer offering interval estimations for expected returns rather than crisp ones. The portfolio selection...

Numerous empirical studies show that portfolio returns are generally asymmetric, and investors would prefer a portfolio return with larger degree of asymmetry when the mean value and variance are same. In order to measure the asymmetry of fuzzy portfolio return, a concept of skewness is defined...