Application of Fuzzy Set Theory to Economics

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


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.


Membership Function Fuzzy Number Marginal Utility Fuzzy Subset Fuzzy Relation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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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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