By Kofi Kissi Dompere
This monograph is dedicated to the improvement of worth concept of computable basic costs in cost-benefit research lower than fuzzy rationality. The publication demonstrates using fuzzy selection algorithms and good judgment to boost a complete and multidisciplinary cost-benefit research through profiting from present clinical profits in fuzziness and tender computing. the speculation is constructed at a uncomplicated point of microeconomics resulting in aggregation in fuzzy determination setting composed of subjective phenomenon, imprecision, approximations and difficulties of data elicitation. The ebook integrates the theories of computable costs, fuzzy judgements and social decision-choice procedures right into a set of determination algorithms obtainable to practitioners, researchers, graduate scholars, and coverage makers in economics, engineering, in addition to actual, social, and scientific sciences. It brings into concentration the bushy mathematical theories of computable equilibrium costs, social fee and cost-benefit criterion on either micro and mixture degrees and the way they relate to printed choice, contingent valuation and hedonic pricing equipment. also the monograph covers computational difficulties of optimum taxation, cost-benefit distributions, social goal-objective formation and rent-seeking actions as fuzzy approaches.
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Extra info for Cost-Benefit Analysis and the Theory of Fuzzy Decisions: Fuzzy Value Theory
The min-fuzzy operator in eqn. 1) has an important economic logic. On the part of the consumer, the lower reference price offered by a consumer among all the consumers implies that all the consumers that consume the commodity can also afford the commodity given the units and hence welfare of the consumers will be optimized. On the part of the producers, the min-fuzzy operator, , defines a logical position that the lowest price in the supply reference set implies that a producer among a set of producers of this output can produce a unit of the commodity at a minimum cost for which such a price supports his welfare.
398. 61). From eqn. 19b) The values D 1D and D 2D in eqns. 9b) show the degrees to which the individuals’ degrees of preference in isolation relate to the ruling fuzzy equilibrium price. We can immediately examine the corresponding prices that the individuals are willing to offer given the optimal degree of collective preference D* from the inverse fuzzy demand membership functions. 64. 20b ) We may now proceed to compute the fuzzy consumer surplus u ljd from eq. 01. Let the total output be Q = 18 and hence from the convex weights Q = 8 and Q = 10.
For the parameters O2 1 8 , By substituting these values into eqn. 13) A simplification and rearrangement of terms in eqn. 13) yield a polynomial of degree five in p as 27 p 5 168 p 4 975 p 3 8160 p 2 11868 p 16560 0 From the theory of polynomial equations we know that there is at least one root for eqn. 14) and by Descartes’ rule of signs of polynomial equations we have at most three positive roots. One of the roots of eqn. 61 which is the fuzzy equilibrium price under given cost and production conditions.
Cost-Benefit Analysis and the Theory of Fuzzy Decisions: Fuzzy Value Theory by Kofi Kissi Dompere