BENEFIT/COST ANALYSIS USING FUZZY CONCEPT
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TL;DR
By using these algorithms, the ambiguities involved in the assessment data can be effectively represented and processed to assure a more convincing and effective decision-making.
Abstract
ABSTRACT Two algorithms are proposed to perform benefit/cost analysts in a fuzzy environment. The first algorithm considers the fuzzy measure of benefit to cost ratio to select the optimal alternative group under the available funds. The second algorithm considers the fuzzy measure of incremental benefit to incremental cost ratio to choose the optimal investment alternative from several mutually exclusive investment alternatives. By using these algorithms, the ambiguities involved in the assessment data can be effectively represented and processed to assure a more convincing and effective decision-making.