Alternative solutions to traditional approaches to risk analysis and decision making using fuzzy logic

Lusine Mkrtchyan
Fuzzy set theory (FST) and Fuzzy logic (FL) are one of the main components of soft computing which is a collection of techniques to handle hard problems in which the application of traditional approaches fails. The father of FST and FL stated that the dominant aim of SC is to exploit the tolerance for imprecision and uncertainty to achieve tractability, robustness, and low solution cost. Since its establishment the theory of fuzzy sets and fuzzy...