Present Worth Analysis Using Spherical Fuzzy Sets

Boltürk E., ŞEKER Ş.

International Conference on Intelligent and Fuzzy Systems, INFUS 2021, İstanbul, Turkey, 24 - 26 August 2021, vol.308, pp.777-788 identifier

  • Publication Type: Conference Paper / Full Text
  • Volume: 308
  • Doi Number: 10.1007/978-3-030-85577-2_91
  • City: İstanbul
  • Country: Turkey
  • Page Numbers: pp.777-788
  • Keywords: Engineering economics, Present worth analysis, Spherical fuzzy sets
  • Istanbul Technical University Affiliated: Yes


© 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.One of the important investment techniques is present worth analysis (PWA) in engineering economics. Investment values are specified by humans and these values are based on human thoughts. It is quite hard to specify them in crisp values. In that manner, fuzzy logic could be the better alternative to calculate vagueness. Vague cash flows, uncertain life, and uncertain time value of money give rise to usage of fuzzy PWA. In this study, spherical fuzzy PWA method is developed to handle the fuzzy parameters of investments. Spherical fuzzy sets (SFSs) have better powerful tool in order to model the indefiniteness in investment analysis problems. To the best of our knowledge, there is no study about PWA based on SFSs method in literature. We give a numerical application of our proposed spherical fuzzy PWA method to show applicability of the proposed approach.