New product selection using fuzzy linear programming and fuzzy Monte Carlo simulation

Irem Uçal Sari*, Cengiz Kahraman

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

4 Citations (Scopus)

Abstract

Investment decisions are important due to their critical role in organizations' success. Sometimes, especially in uncertain conditions the results obtained from traditional analysis techniques can be different from the real world results. Due to this fact the techniques that take uncertainty into account are preferred in investment analysis to aware of the effect of an uncertain environment. In this paper, fuzzy Monte Carlo simulation method is used to determine the best investment strategy on new product selection for an organization in the condition when the fuzzy net present value is not the only point of concern for decision making.

Original languageEnglish
Title of host publicationAdvances in Computational Intelligence - 14th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems, IPMU 2012, Proceedings
Pages441-448
Number of pages8
EditionPART 4
DOIs
Publication statusPublished - 2012
Event14th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems, IPMU 2012 - Catania, Italy
Duration: 9 Jul 201213 Jul 2012

Publication series

NameCommunications in Computer and Information Science
NumberPART 4
Volume300 CCIS
ISSN (Print)1865-0929

Conference

Conference14th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems, IPMU 2012
Country/TerritoryItaly
CityCatania
Period9/07/1213/07/12

Keywords

  • Capital Budgeting
  • Fuzzy Monte Carlo Simulation Method
  • Linear Programming

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