Possibility for Decision: A Possibilistic Approach to Real Life Decisions (Studies in Fuzziness and Soft Computing (270))

This book starts with the basic concepts of fuzzy sets and progresses through a normative view on possibility distributions and OWA operators in multiple criteria decisions. Five applications (that all build on experience from solving complex real world problems) of possibility distributions to strategic decisions about closing/not closing a production plant using fuzzy real options, portfolio selection with imprecise future data, predictive probabilities and possibilities for risk assessment in grid computing, fuzzy ontologies for process industry, and design (and implementation) of mobile value services are presented and carefully discussed. It can be useful for researchers and students working in soft computing, real options, fuzzy decision making, grid computing, knowledge mobilization and mobile value services. Front Matter....Pages - Introduction....Pages 1-6 Concepts and Issues....Pages 7-25 A Normative View on Possibility Distributions....Pages 27-76 OWA Operators in Multiple Criteria Decisions....Pages 77-100 Fuzzy Real Options for Strategic Decisions....Pages 101-132 Portfolio Selection with Imprecise Future Data....Pages 133-144 Risk Assessment in Grid Computing....Pages 145-165 Knowledge Mobilization....Pages 167-183 Mobile Value Services....Pages 185-225 Back Matter....Pages - Starting with the basic concepts of fuzzy sets, and progressing through a normative view on possibility distributions and OWA operators in multiple-criteria decisions, this volume sets out five applications of the theory, based on complex, real-world problems.