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Fuzzy Numbers and Fractional Programming in Making Decisions

Author

Listed:
  • Bogdana Stanojević

    (Mathematical Institute of the Serbian Academy of Science and Arts, Kneza Mihaila 36, 11000 Belgrade, Serbia)

  • Simona Dzitac

    (Department of Energy Engineering, University of Oradea, Universitatii 1, 410087 Oradea, Romania)

  • Ioan Dzitac

    (Aurel Vlaicu University of Arad, 310330 Arad, Elena Dragoi 2, Romania4Agora University of Oradea, 410526 Oradea, P-ta Tineretului 8, Romania5Department of Economic Informatics & Statistics, University of Craiova, 200585, Craiova, Str. A.I. Cuza, nr. 13, Romania)

Abstract

This study surveys the use of fuzzy numbers in classic optimization models, and its effects on making decisions. In a wide sense, mathematical programming is a collection of tools used in mathematical optimization to make good decisions. There are many sectors of economy that employ it. Finance and government, logistics and manufacturing, the distribution of the electrical power are worth to be first mentioned.When real life problems are modeled mathematically, there is always a trade-off between model’s accuracy and complexity. By this survey, we aim to present in a concise form some mathematical models from the literature together with the methods to solve them. We will focus mainly on fuzzy fractional programming problems. We will also refer to but not describe in detail the multi-criteria decision-making problems involving fuzzy numbers and linear fractional programming models.

Suggested Citation

  • Bogdana Stanojević & Simona Dzitac & Ioan Dzitac, 2020. "Fuzzy Numbers and Fractional Programming in Making Decisions," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 19(04), pages 1123-1147, July.
    • Handle: RePEc:wsi:ijitdm:v:19:y:2020:i:04:n:s0219622020300037
    DOI: 10.1142/S0219622020300037
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    Cited by:

    1. Bogdana Stanojević & Milan Stanojević & Sorin Nădăban, 2021. "Reinstatement of the Extension Principle in Approaching Mathematical Programming with Fuzzy Numbers," Mathematics, MDPI, vol. 9(11), pages 1-16, June.

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