CONSUMER AND PRODUCER SURPLUS OF THE LINEAR DEMAND AND SUPPLY FUNCTIONS BY FUZZIFYING POLYGONAL FUZZY NUMBERS AND DEFUZZIFYING GRADED MEAN

Salih Aytar and İsmail Özcan

Economy & Business Journal, 2019, vol. 13, issue 1, 240-246

Abstract: Let ????=????−b???? and ????=????+g???? be linear demand function and linear supply function, respectively. If the price ???? is fixed then the quantity ???? is not necessarily fixed. In this paper, the quantity ???? are fuzzified using polygonal fuzzy number. Then the graded mean method is used to defuzzify the fuzzy demand function and fuzzy supply function. Finally the results obtained show that our polygonal fuzzy model gives more optimal results than triangular fuzzy model.

Keywords: graded mean; polygonal fuzzy number; consumer surplus; producer surplus (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:isp:journl:v:13:y:2019:i:1:p:240-246

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