Abstract
The scope of fuzzy economics is to bring into play a new body of concepts in which imprecision (or fuzziness) is accepted as a matter of science. Accurate mathematical methods are used; they are based on the concept of fuzzy set. Intuitively, a fuzzy set is compounded of elements which appertain to it more or less. The transition from membership to non-membership is soft rather than crisp, as in the case of an ordinary set. In the same manner, fuzzy logic handles imprecise truths, and fuzzy connectives and rules of inference, contrary to classical two-valued logic.
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Ponsard, C. (2018). Fuzzy Sets. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_786
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DOI: https://doi.org/10.1057/978-1-349-95189-5_786
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