Simulation Support to Grey-Related Analysis: Data Mining Simulation

David L. Olson and Desheng Wu
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David L. Olson: University of Nebraska
Desheng Wu: University of Toronto

A chapter in Fuzzy Multi-Criteria Decision Making, 2008, pp 281-299 from Springer

Abstract: Abstract This chapter addresses the use of Monte Carlo simulation to reflect uncertainty as expressed by fuzzy input. Fuzziness is expressed through grey-related analysis, using interval fuzzy numbers. The method standardizes inputs through norms of interval number vectors. Interval-valued indexes are used to apply multiplicative operations over interval numbers. The method is demonstrated on a practical problem. Simulation offers a more complete understanding of the possible outcomes of alternatives as expressed by fuzzy numbers. The focus is on probability rather than on maximizing expected or extreme values.

Keywords: Fuzzy sets; Monte Carlo simulation; grey-related analysis; data mining (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-0-387-76813-7_11

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