Real option 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...

We use the basic Black-Scholes equation for pricing European stock options but we allow some of the parameters in the model to be uncertain and we model this uncertainty using fuzzy numbers. We compute the fuzzy number for the call value of option with and without uncertain dividends. This fuzzy...

Quality consultants are used in ISO 9000 implementation projects especially by many small and medium-sized enterprises. Clients do not always appreciate differences between quality consultants. This paper aims to provide an analytical tool to select the best quality consultant providing the most...

Fuzzy numbers are used for representing the numerical quantities in a vague environment. Their ranking order has been an important issue for application purposes. Most of the existing ranking methods transform a fuzzy number into a real number based on certain criteria. There is yet no method...

In this paper we present a new approach, based on the Nearest Interval Approximation Operator, for dealing with a multiobjective programming problem with fuzzy-valued objective functions.

Engineering and scientific measurement results of continuous quantities are not precise numbers but more or less non-precise. Therefore so-called non-precise numbers are necessary to describe measurement results. Non-precise numbers are special fuzzy subsets of the set of real numbers. For...