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Engineering Economics Using Fuzzy Sets: A Literature Review

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Intelligent and Fuzzy Techniques: Smart and Innovative Solutions (INFUS 2020)

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Abstract

Estimating the values of investment parameters in engineering economics is a fundamental issue which is based on human thoughts and judgments. It can be quietly difficult to make an investment decision especially in vague and indefinite environments. When a model is based on human thoughts, fuzzy logic offers excellent solutions in an environment of uncertainty. In addition, fuzzy logic can be an agreeable tool when no probabilities are accessible for states of nature, and when decisions are given under uncertainness. In this paper, the studies on engineering economics employing the extensions of fuzzy sets are summarized with a historical order. The future possible studies are suggested in the conclusion.

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Authors and Affiliations

  1. Department of Industrial Engineering, Istanbul Technical University, Macka, 34367, Istanbul, Turkey

    Eda Boltürk

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  1. Eda Boltürk
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Correspondence to Eda Boltürk .

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Editors and Affiliations

  1. Department of Industrial Engineering, Istanbul Technical University, Istanbul, Turkey

    Cengiz Kahraman

  2. Department of Industrial Engineering, Istanbul Technical University, Istanbul, Turkey

    Sezi Cevik Onar

  3. Department of Industrial Engineering, Istanbul Technical University, Ä°stanbul, Turkey

    Basar Oztaysi

  4. Department of Industrial Engineering, Istanbul Technical University, Istanbul, Turkey

    Irem Ucal Sari

  5. Industrial Engineering Department, Yildiz Technical University, Istanbul, Turkey

    Selcuk Cebi

  6. Industrial Engineering Department, Galatasaray University, Istanbul, Turkey

    A. Cagri Tolga

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Boltürk, E. (2021). Engineering Economics Using Fuzzy Sets: A Literature Review. In: Kahraman, C., Cevik Onar, S., Oztaysi, B., Sari, I., Cebi, S., Tolga, A. (eds) Intelligent and Fuzzy Techniques: Smart and Innovative Solutions. INFUS 2020. Advances in Intelligent Systems and Computing, vol 1197. Springer, Cham. https://doi.org/10.1007/978-3-030-51156-2_195

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