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Sets out to provide an understanding of the theory of fuzzy logic by supplying background details concerning its evolution in mathematics and computer science. Once a basic understanding of the theory is obtained, then it is easier to understand the implications for computer applications. Fuzzy logic processors and compilers have facilitated the development of expert systems that typically use a lot of imprecise data. These expert systems have been used successfully as control units in industrial settings and as decision support systems in hospital settings. Fuzzy logic has been found to be a practical and viable form of artificial intelligence that mitigates the current drawbacks of other forms of artificial intelligence. But the really exciting development that is poised to emerge is the introduction of fuzzy logic appliances. These appliances employ an expert system on a chip that is able to mimic the range of flexibility of the human mind, while utilizing resources more efficiently.

Companies deal with many decision‐making processes whose impact on the global performance can be very strong. As a consequence, the role of the decision support systems (DSSs) within the organization is critical. Considering the imprecise or fuzzy nature of the data in real‐world problems, it becomes obvious that the ability to manage uncertainty turns out to be a crucial issue for a DSS. In this framework, this paper discusses the key role of fuzzy logic (FL) in the DSSs, presents new applications of FL in DSSs in various sectors and identifies new challenges and new directions for further research.

Examines the growth of a new technology called fuzzy logic and its significance for microcontroller‐based embedded control solutions. Outlines the reasons for the emergence of fuzzy logic and explains the mathematic principles behind fuzzy set theory. Using the example of an oven temperature control system, describes how fuzzy logic is applied to the practical solution of a control problem rather than a conventional solution. Concludes that fuzzy logic has been used primarily in embedded control application as a software‐based methodology in closed‐loop control systems whilst a dedicated fuzzy hardware processor would optimally be based on a parallel architecture, allowing the entire rule base to be evaluated in a parallel fashion.

In recent times, fuzzy logic is gaining more and more attention, and this is because of the capability of understanding the functioning of the system as per human knowledge-based system. The main contribution of the work is dynamically adapting the important parameters throughout the execution of the flower pollination algorithm (FPA) using concepts of fuzzy logic. By adapting the main parameters of the metaheuristics, the performance and accuracy of the metaheuristic have been improving in a varied range of applications.

The fuzzy logic-based parameter adaptation in the FPA is proposed. In addition, type-2 fuzzy logic is used to design fuzzy inference system for dynamic parameter adaptation in metaheuristics, which can help in eliminating uncertainty and hence offers an attractive improvement in dynamic parameter adaption in metaheuristic method, and, in reality, the effectiveness of the interval type-2 fuzzy inference system (IT2 FIS) has shown to provide improved results as matched to type-1 fuzzy inference system (T1 FIS) in some latest work.

One case study is considered for testing the proposed approach in a fault tolerant control problem without faults and with partial loss of effectiveness of main actuator fault with abrupt and incipient nature. For comparison between the type-1 fuzzy FPA and interval type-2 fuzzy FPA is presented using statistical analysis which validates the advantages of the interval type-2 fuzzy FPA. The statistical Z-test is presented for comparison of efficiency between two fuzzy variants of the FPA optimization method.

The main contribution of the work is a dynamical adaptation of the important parameters throughout the execution of the flower pollination optimization algorithm using concepts of type-2 fuzzy logic. By adapting the main parameters of the metaheuristics, the performance and accuracy of the metaheuristic have been improving in a varied range of applications.

Manufacturing is a key to continuous economic growth. Fuzzy expert systems, fuzzy logics, fuzzy languages, fuzzy neural networks, and intelligent control are proposed as additional tools in manufacturing. Fuzzy logic is a new way to program computers and appliances to mimic the imprecise way humans make decisions. Fuzzy logic has been applied to cameras, subways, computers and air conditioners. Through the use of fuzzy logic, fuzzy expert systems can be built which add a new dimension in the technologies for intelligent factories.

The purpose of this paper is to explore the application of fuzzy logic in real estate investment in Hong Kong. There have been sufficient debates on the literature, providing the theoretical background on real estate investment decisions but there has been a lack of empirical support in this regard. This paper attempts to fill the gap between theorem and application.

The fuzzy logic system is adopted to evaluate the situation of a real estate market with imprecise and vague information. An indicator‐portfolio, rather than a specific indicator/index usually employed by practitioners, is explored to assist investors in risk management. The result derived from this framework is then compared to the property price index. This approach provides a framework in understanding the market without statistical and mathematical models. It tries to stimulate the complex human cognitive process involving decision making.

The housing‐indicator portfolio composition produces an outcome value which is able to reflect the complexities of both the real estate market and investors' expectations. An increase of this value implies that the investment condition is becoming more positive.

The paper reveals that fuzzy logic can provide some insights in an intuitive manner and is capable of obtaining information not found in market data. It is particularly useful to investors without experience in mathematical modeling.

This paper establishes a basic framework of fuzzy logic for real estate investment on which a base is formed as a reference for practitioners and investors. However, they should make references to the specific housing‐indicator portfolio composition in their own regions.

This paper has used a fuzzy logic system to assist practitioners as well as investors on decision making in real estate investment with imperfect market information. With the aid of the system, practitioners and investors are able to enhance their investment decision‐making quality by reducing the risk incurred by such uncertainties.

The objective of this paper is to provide a brief review of recent developments in the area of applications of ANN, Fuzzy Logic, and Wavelet Transform in fault diagnosis. The purpose of this work is to provide an approach for maintenance engineers for online fault diagnosis through the development of a machine condition‐monitoring system.

A detailed review of previous work carried out by several researchers and maintenance engineers in the area of machine‐fault signature‐analysis is performed. A hybrid expert system is developed using ANN, Fuzzy Logic and Wavelet Transform. A Knowledge Base (KB) is created with the help of fuzzy membership function. The triangular membership function is used for the generation of the knowledge base. The fuzzy‐BP approach is used successfully by using LR‐type fuzzy numbers of wavelet‐packet decomposition features.

The development of a hybrid system, with the use of LR‐type fuzzy numbers, ANN, Wavelets decomposition, and fuzzy logic is found. Results show that this approach can successfully diagnose the bearing condition and that accuracy is good compared with conventionally EBPNN‐based fault diagnosis.

The work presents a laboratory investigation carried out through an experimental set‐up for the study of mechanical faults, mainly related to the rolling element bearings.

The main contribution of the work has been the development of an expert system, which identifies the fault accurately online. The approaches can now be extended to the development of a fault diagnostics system for other mechanical faults such as gear fault, coupling fault, misalignment, looseness, and unbalance, etc.

Several different simulation techniques, such as discrete event simulation (DES), system dynamics (SD) and agent-based modelling (ABM), have been used to model complex construction systems such as construction processes and project management practices; however, these techniques do not take into account the subjective uncertainties that exist in many construction systems. Integrating fuzzy logic with simulation techniques enhances the capabilities of those simulation techniques, and the resultant fuzzy simulation models are then capable of handling subjective uncertainties in complex construction systems. The objectives of this chapter are to show how to integrate fuzzy logic and simulation techniques in construction modelling and to provide methodologies for the development of fuzzy simulation models in construction. In this chapter, an overview of simulation techniques that are used in construction is presented. Next, the advancements that have been made by integrating fuzzy logic and simulation techniques are introduced. Methodologies for developing fuzzy simulation models are then proposed. Finally, the process of selecting a suitable simulation technique for each particular aspect of construction modelling is discussed.

Double auctions are widely used market mechanisms on the world. Communication technologies such as internet increased importance of this market institution. The purpose of this study is to develop novel bidding strategies for dynamic double auction markets, explain price formation through interactions of buyers and sellers in decentralized fashion and compare macro market outputs of different micro bidding strategies.

In this study, two novel bidding strategies based on fuzzy logic are presented. Also, four new bidding strategies based on price targeting are introduced for the aim of comparison. The proposed bidding strategies are based on agent-based computational economics approach. The authors performed multi-agent simulations of double auction market for each suggested bidding strategy. For the aim of comparison, the zero intelligence strategy is also used in the simulation study. Various market outputs are obtained from these simulations. These outputs are market efficiencies, price means, price standard deviations, profits of sellers and buyers, transaction quantities, profit dispersions and Smith’s alpha statistics. All outputs are also compared to each other using t-tests and kernel density plots.

The results show that fuzzy logic-based bidding strategies are superior to price targeting strategies and the zero intelligence strategy. The authors also find that only small number of inputs such as the best bid, the best ask, reference price and trader valuations are sufficient to take right action and to attain higher efficiency in a fuzzy logic-based bidding strategy.

This paper presents novel bidding strategies for dynamic double auction markets. New bidding strategies based on fuzzy logic inference systems are developed, and their superior performances are shown. These strategies can be easily used in market-based control and automated bidding systems.