Abstract
Distance between fuzzy quantities, used to represent the degree of difference, is a powerful concept in many disciplines of science and engineering. Within the framework of credibility theory, Liu gave an Euclidean distance based on the concept of expected value. Furthermore, Li and Liu proved the triangle inequality and the completeness of the fuzzy metric space. Based on the worst regret criterion, Li et al. proposed a fuzzy regret minimization model to minimize the distance between the fuzzy objective values and the best values. This chapter mainly introduces the concept of distance, regret minimization model, and applications in the portfolio selection problem.
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Li, X. (2013). Regret Minimization Model. In: Credibilistic Programming. Uncertainty and Operations Research. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36376-4_7
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DOI: https://doi.org/10.1007/978-3-642-36376-4_7
Publisher Name: Springer, Berlin, Heidelberg
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