Title :
Capital budgeting techniques under fuzzy information
Author :
Kahraman, Cengiz ; Tolga, Ethem
Author_Institution :
Dept. of Ind. Eng., Istanbul Tech. Univ., Turkey
Abstract :
Cash amounts and interest rates are usually estimated by using educated guesses based on expected values or other statistical techniques to obtain them. Fuzzy numbers can capture the difficulties in estimating these parameters. Fuzzy present value, fuzzy equivalent uniform annual value, fuzzy future value, fuzzy benefit-cost ratio, and fuzzy payback period are the methods examined with numeric examples in the paper. The paper also gives the ranking methods of fuzzy numbers
Keywords :
budgeting data processing; cost-benefit analysis; fuzzy logic; fuzzy set theory; inference mechanisms; uncertainty handling; capital budgeting techniques; cash amounts; educated guesses; expected values; fuzzy benefit-cost ratio; fuzzy equivalent uniform annual value; fuzzy future value; fuzzy information; fuzzy numbers; fuzzy payback period; fuzzy present value; interest rates; numeric examples; ranking methods; statistical techniques; Costs; Economic indicators; Fuzzy set theory; Fuzzy sets; Humans; Industrial engineering; Mathematical programming; Parameter estimation; Programming profession; Uncertainty;
Conference_Titel :
Tools with Artificial Intelligence, 1998. Proceedings. Tenth IEEE International Conference on
Conference_Location :
Taipei
Print_ISBN :
0-7803-5214-9
DOI :
10.1109/TAI.1998.744850