Fuzzy Engineering Economics with Applications

Volume 233 of the series Studies in Fuzziness and Soft Computing pp 1-9

Fuzzy Sets in Engineering Economic Decision-Making

  • Cengiz KahramanAffiliated withDepartment of Industrial Engineering, İstanbul Technical University

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When no probabilities are available for states of nature, decisions are given under uncertainty. Fuzzy sets are a good tool for the operation research analyst facing uncertainty and subjectivity. The main purpose of this chapter is to present the role and importance of fuzzy sets in the economic decision making problem with the literature review of the most recent advances.