Due to incomplete knowledge and information, it is not enough to use precise mathematics to model a complex system. In order to represent the vagueness in everyday life, Zadeh introduced the concept of fuzzy sets in 1965. Based on this concept, Bellman and Zadeh presented the fuzzy decision theory. They defined decision-making in a fuzzy environment with a decision set which unifies a fuzzy objective and a fuzzy constraint.
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© 2008 Springer-Verlag Berlin Heidelberg
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(2008). Fuzzy Decision Making and Maximization Decision Making. In: Fuzzy Portfolio Optimization. Lecture Notes in Economics and Mathematical Systems, vol 609. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77926-1_2
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DOI: https://doi.org/10.1007/978-3-540-77926-1_2
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