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Investors’ preference order of fuzzy numbers

✍ Scribed by Hsuan-Ku Liu; Berlin Wu; Ming Long Liu

Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
321 KB
Volume
55
Category
Article
ISSN
0898-1221

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✦ Synopsis

Nowadays greater and greater realistic financial problems are modeled by using the stochastic programming in the fuzzy environment. Hence, ranking a set of fuzzy numbers that is consistent with the investors' preference becomes important for modelling a realistic problem. In this paper, we will provide a new ranking procedure that is consistent with the preference of the conservative investors. Our ranking procedure satisfies the axioms of three order relations for the separable fuzzy numbers or the triangle fuzzy numbers. We found that our ranking procedure has a better capability of discriminating the order of two fuzzy numbers. For the LR-type fuzzy numbers, our ranking procedure reduces the computational time substantially.

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