Proceedings of the Korean Institute of Intelligent Systems Conference (한국지능시스템학회:학술대회논문집)
- 1998.06a
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- Pages.347-351
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- 1998
COMBING EQUAL-LIFE MULTILEVEL INVESTMENTS USING FUZZY DYNAMIC PROGRAMMING
- Kahraman, Cengiz (Istanbul Technical university Industrial Engineering Department) ;
- Ulukan, Ziya (Istanbul Technical university Industrial Engineering Department) ;
- Tolga, Ethem (Galatasaray University Faculty of Engineering and Technology)
- Published : 1998.06.01
Abstract
Dynamic programming is applicable to any situation where items from several groups must be combined to form an entity, such as a composite investment or a transportation route connecting several districts. The most desirable entity is constructed in stages by forming sub-entities that are candidates for inclusion in the most desirable entity are retained, and all other sub-entities are discarded. In the paper, the fuzzy dynamic programming is applied to the situation where each investment in the set has the following characteristics : the amount to be invested has several possible values, and the rte of return varies with the amount invested. Each sum that may be invested represents a distinct level of investment , and the investment therefore has multiple levels. A numeric example constructing a combination of multilevel investments is given in the paper.