Title :
From supply and demand to oligopoly via fuzzy sets
Author_Institution :
Dept. of Econ., Mutah Univ., Karak, Jordan
Abstract :
This paper links two theoretical models, the oligopoly market form and the supply/demand paradigm, via fuzzy sets to provide an empirically consistent model of fuzzy decision-making. Most significantly, both models are shown to merge in the short-run when decision-making and intrinsic uncertainties are described by fuzzy sets. Our results and method highlight the importance of introducing fuzzy logic into economic analysis
Keywords :
decision theory; economic cybernetics; economics; fuzzy logic; fuzzy set theory; economic analysis; empirically consistent model; fuzzy decision making; fuzzy logic; fuzzy sets; intrinsic uncertainties; model merging; oligopoly market form; supply/demand paradigm; Aggregates; Decision making; Economic forecasting; Fuzzy logic; Fuzzy set theory; Fuzzy sets; Oligopoly; Shape; Supply and demand; Uncertainty;
Conference_Titel :
Uncertainty Modeling and Analysis, 1995, and Annual Conference of the North American Fuzzy Information Processing Society. Proceedings of ISUMA - NAFIPS '95., Third International Symposium on
Conference_Location :
College Park, MD
Print_ISBN :
0-8186-7126-2
DOI :
10.1109/ISUMA.1995.527700
