Application of Fuzzy Set Theory to Economics

  • Guo Quan Chen
  • Samuel C. Lee
  • Eden S. H. Yu

Abstract

It has been widely recognized by economists that economic behavior generally involves both elements of stochasticness and/or fuzziness. The objects which economic theory deals with are replete with all sorts of fuzzy emotions, perceptions and processes. While a rich literature on economic behavior under a stochastic environment has developed during the past decade,1 it is notable that virtually no systematic attempt has been made to-date to investigate economic behavior under fuzziness.

Keywords

Income Rium Blin 

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References

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Copyright information

© Plenum Press, New York 1983

Authors and Affiliations

  • Guo Quan Chen
    • 1
  • Samuel C. Lee
    • 1
  • Eden S. H. Yu
    • 2
  1. 1.School of Electrical Engineering and Computer ScienceUniversity of OklahomaNormanUSA
  2. 2.College of Business AdministrationUniversity of OklahomaNormanUSA

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