For successful trading in financial markets, it is important to develop financial models where one can identify different states of the market for modifying one???s actions. In this paper, we propose to use probabilistic fuzzy systems for this purpose. We concentrate on Takagi???Sugeno (TS)...

A competitive exception learning algorithm for finding a non-linear mapping is proposed which puts the emphasis on the discovery of the important exceptions rather than the main rules. To do so,we first cluster the output space using a competitive fuzzy clustering algorithm and derive a fuzzy...

Recently, a Competitive Exception Learning Algorithm (CELA) was introduced [1, 2]. This algorithm establishes an optimal mapping from a (continuous) M-dimensional input sample space to an N-dimensional (continuous) output sample space. CELA is aimed to discover regimes (i.e. local behavior in...

The market for corporate control in the second largest economy in the world behaves very different from that in the U.S. Using a sample of 91 mergers in the period 1982-2003 we document several distinctive features of this market in Japan. First, we show that in stark contrast to the...

Public concern nowadays is an important frame of reference for the development of agricultural production systems. The development of such systems, therefore, involves both society level and production system level. Following Zadeh's principle of incompatibility, information obtained at...

In 2004, the Basel Committee on Banking Supervision defined Operational Risk (OR) as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. After publication of the new capital accord containing this dfinition, statistical properties...

While fuzzy specialists usually use homogeneous experts’ knowledge to construct fuzzy models, it is much more difficult to deal with knowledge elicited from a heterogeneous group of experts. This issue especially holds in the area of the sustainable rangeland management. One way to deal...

We consider function approximation by fuzzy systems. Fuzzy systems are typically used for approximating deterministic functions, in which the stochastic uncertainty is ignored. We propose probabilistic fuzzy systems in which the probabilistic nature of uncertainty is taken into account....

The objective of this paper is to introduce fuzzy set theory and develop fuzzy mathematical models to assess sustainable development based on context-dependent economic, ecological, and societal sustainability indicators. Membership functions are at the core of fuzzy models, and define the...