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Article
Publication date: 29 June 2021

Xue Deng, Xiaolei He and Cuirong Huang

This paper proposes a fuzzy random multi-objective portfolio model with different entropy measures and designs a hybrid algorithm to solve the proposed model.

Abstract

Purpose

This paper proposes a fuzzy random multi-objective portfolio model with different entropy measures and designs a hybrid algorithm to solve the proposed model.

Design/methodology/approach

Because random uncertainty and fuzzy uncertainty are often combined in a real-world setting, the security returns are considered as fuzzy random numbers. In the model, the authors also consider the effects of different entropy measures, including Yager's entropy, Shannon's entropy and min-max entropy. During the process of solving the model, the authors use a ranking method to convert the expected return into a crisp number. To find the optimal solution efficiently, a fuzzy programming technique based on artificial bee colony (ABC) algorithm is also proposed.

Findings

(1) The return of optimal portfolio increases while the level of investor risk aversion increases. (2) The difference of the investment weights of the optimal portfolio obtained with Yager's entropy are much smaller than that of the min–max entropy. (3) The performance of the ABC algorithm on solving the proposed model is superior than other intelligent algorithms such as the genetic algorithm, differential evolution and particle swarm optimization.

Originality/value

To the best of the authors' knowledge, no effect has been made to consider a fuzzy random portfolio model with different entropy measures. Thus, the novelty of the research is constructing a fuzzy random multi-objective portfolio model with different entropy measures and designing a hybrid fuzzy programming-ABC algorithm to solve the proposed model.

Details

Engineering Computations, vol. 39 no. 2
Type: Research Article
ISSN: 0264-4401

Keywords

Article
Publication date: 13 August 2019

Hui Lü, Kun Yang, Wen-bin Shangguan, Hui Yin and DJ Yu

The purpose of this paper is to propose a unified optimization design method and apply it to handle the brake squeal instability involving various uncertainties in a unified…

Abstract

Purpose

The purpose of this paper is to propose a unified optimization design method and apply it to handle the brake squeal instability involving various uncertainties in a unified framework.

Design/methodology/approach

Fuzzy random variables are taken as equivalent variables of conventional uncertain variables, and a unified response analysis method is first derived based on level-cut technique, Taylor expansion and central difference scheme. Next, a unified reliability analysis method is developed by integrating the unified response analysis and fuzzy possibility theory. Finally, based on the unified reliability analysis method, a unified reliability-based optimization model is established, which is capable of optimizing uncertain responses in a unified way for different uncertainty cases.

Findings

The proposed method is extended to perform squeal instability analysis and optimization involving various uncertainties. Numerical examples under eight uncertainty cases are provided and the results demonstrate the effectiveness of the proposed method.

Originality/value

Most of the existing methods of uncertainty analysis and optimization are merely effective in tackling one uncertainty case. The proposed method is able to handle the uncertain problems involving various types of uncertainties in a unified way.

Details

Engineering Computations, vol. 37 no. 1
Type: Research Article
ISSN: 0264-4401

Keywords

Article
Publication date: 21 September 2022

Sifeng Liu and Wei Tang

The purpose of this paper is to explore new ways and lay a solid foundation to solve the problem of reliability growth analysis of major aerospace equipment with various…

Abstract

Purpose

The purpose of this paper is to explore new ways and lay a solid foundation to solve the problem of reliability growth analysis of major aerospace equipment with various uncertainty data through propose new concepts of general uncertainty data (GUD) and general uncertainty variable (GUV) and build the operation system of GUVs.

Design/methodology/approach

The characteristics of reliability growth data of major aerospace equipment and the limitations of current reliability growth models have been analyzed at first. The most commonly used uncertainty system analysis methods of probability statistics, fuzzy mathematics, grey system theory and rough set theory have been introduced. The concepts of GUD and GUV for reliability growth data analysis of major aerospace equipment are proposed. The simplified form of GUV based on the “kernel” and the degree of uncertainty of GUV is defined. Then an operation system of GUVs is built.

Findings

(1) The concept of GUD; (2) the concept of GUV; (3) The novel operation rules of GUVs with simplified form.

Practical implications

The method exposed in this paper can be used to integrate complex reliability growth data of major aerospace equipment. The reliability growth models based on GUV can be built for reliability growth evaluation and forecasting of major aerospace equipment in practice. The reliability evaluation example of a solid rocket motor shows that the concept and idea proposed in this paper are feasible. The research of this paper opens up a new way for the analysis of complex uncertainty data of reliability growth of major aerospace equipment. Moreover, the operation of GUVs could be extended to the case of algebraic equation, differential equation and matrix which including GUVs.

Originality/value

The new concepts of GUD and GUV are given for the first time. The novel operation rules of GUVs with simplified form were constructed.

Article
Publication date: 1 December 2000

Wang Qing Yin, Ren Biao and Wang FengLi

We introduce the concepts of information, uncertainty information, systems and uncertainty systems, analyze the intension of these concepts, and point out the differences and…

5751

Abstract

We introduce the concepts of information, uncertainty information, systems and uncertainty systems, analyze the intension of these concepts, and point out the differences and connections among various concepts of systems. We put forward a mathematical method to research uncertainty systems and present a problem that can be solved with our method but cannot be solved with the interval analyzing method. Otherwise, from analyzing the purpose of introducing the concepts of information, uncertainty information, systems and uncertainty systems, we conclude that uncertainty information and uncertainty systems are among the most important subjects studied in scientific research, especially in applied research, both that being presently conducted and the abundance which is to come in the future.

Details

Kybernetes, vol. 29 no. 9/10
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 28 June 2019

Shuo-Fang Liu, Yuan-Chin Hsu and Hung-Cheng Tsai

Belief in Mazu has a crucial cultural status in Taiwan and the coastal area of Fujian, China. The design and manufacture of apparel and accessories to be placed on statues of the…

Abstract

Purpose

Belief in Mazu has a crucial cultural status in Taiwan and the coastal area of Fujian, China. The design and manufacture of apparel and accessories to be placed on statues of the deity are also considered a sacred and critical part of the religion’s cultural and artistic inheritance. The crown hat of Mazu is one of the most essential elements of the deity’s apparel. The paper aims to discuss these issues.

Design/methodology/approach

This study explored the styles of Mazu crown hats using Kansei engineering (KE). People generally use adjectives words to provide aesthetic evaluations. Fuzzy theory is suitable for processing linguistic problems that include vagueness, thereby providing a reasonable method of quantifying such aesthetic evaluations. Therefore, this study first established a fuzzy positioning model (FPM) of word evaluations for analysis. Factor analysis was used to obtain representative image adjectives that represented Mazu’s image. Fuzzy analysis methods were then employed to rank the various image adjectives through evaluation words and to determine the differences between adjectives. Finally, on the basis of image analysis results and expert suggestions, the crown hat was redesigned and its suitability verified.

Findings

Four results were obtained. First, four image adjectives appropriate for representing Mazu’s image were identified, of which “noble and kind” is the most suitable. Second, fuzzy analysis was found to successfully rank style images. Third, the crown hat style and design characteristics suitable for Mazu were acquired. Fourth, the verification demonstrated that the redesign effectively enhanced the perceived image of the crown hat design.

Originality/value

This study employed KE to improve the design of a Mazu crown hat. The proposed FPM can aid the development of cultural and creative design.

Details

International Journal of Clothing Science and Technology, vol. 31 no. 5
Type: Research Article
ISSN: 0955-6222

Keywords

Article
Publication date: 3 August 2021

Pratima Verma, Vimal Kumar, Ankesh Mittal, Bhawana Rathore, Ajay Jha and Muhammad Sabbir Rahman

This study aims to provide insight into the operational factors of big data. The operational indicators/factors are categorized into three functional parts, namely synthesis…

Abstract

Purpose

This study aims to provide insight into the operational factors of big data. The operational indicators/factors are categorized into three functional parts, namely synthesis, speed and significance. Based on these factors, the organization enhances its big data analytics (BDA) performance followed by the selection of data quality dimensions to any organization's success.

Design/methodology/approach

A fuzzy analytic hierarchy process (AHP) based research methodology has been proposed and utilized to assign the criterion weights and to prioritize the identified speed, synthesis and significance (3S) indicators. Further, the PROMETHEE (Preference Ranking Organization METHod for Enrichment of Evaluations) technique has been used to measure the data quality dimensions considering 3S as criteria.

Findings

The effective indicators are identified from the past literature and the model confirmed with industry experts to measure these indicators. The results of this fuzzy AHP model show that the synthesis is recognized as the top positioned and most significant indicator followed by speed and significance are developed as the next level. These operational indicators contribute toward BDA and explore with their sub-categories' priority.

Research limitations/implications

The outcomes of this study will facilitate the businesses that are contemplating this technology as a breakthrough, but it is both a challenge and opportunity for developers and experts. Big data has many risks and challenges related to economic, social, operational and political performance. The understanding of data quality dimensions provides insightful guidance to forecast accurate demand, solve a complex problem and make collaboration in supply chain management performance.

Originality/value

Big data is one of the most popular technology concepts in the market today. People live in a world where every facet of life increasingly depends on big data and data science. This study creates awareness about the role of 3S encountered during big data quality by prioritizing using fuzzy AHP and PROMETHEE.

Details

The TQM Journal, vol. 35 no. 1
Type: Research Article
ISSN: 1754-2731

Keywords

Article
Publication date: 4 December 2020

Yuquan Wang and Naiming Xie

purpose of this paper is providing a solution for flexible flow shop scheduling problem with uncertain processing time in aeronautical composite lay-up workshop.

Abstract

Purpose

purpose of this paper is providing a solution for flexible flow shop scheduling problem with uncertain processing time in aeronautical composite lay-up workshop.

Design/methodology/approach

A flexible flow scheduling model and algorithm with interval grey processing time is established. First, according to actual needs of composite laminate shop scheduling process, interval grey number is used to represent uncertain processing time, and interval grey processing time measurement method, grey number calculation and comparison rules, grey Gantt chart, and other methods are further applied. Then a flexible flow shop scheduling model with interval grey processing time (G-FFSP) is established, and an artificial bee colony algorithm based on an adaptive neighbourhood search strategy is designed to solve the model. Finally, six examples are generated for simulation scheduling, and the efficiency and performance of the model and algorithm are evaluated by comparing the results.

Findings

Results show that flexible flow shop scheduling model and algorithm with interval grey processing time can provide an optimal solution for composite lay-up shop scheduling problems and other similar flow shop scheduling problems.

Social implications

Uncertain processing time is common in flexible workshop manufacturing, and manual scheduling greatly restricts the production efficiency of workshop. In this paper, combined with grey system theory, an intelligent algorithm is used to solve flexible flow shop scheduling problem to promote intelligent and efficient production of enterprises.

Originality/value

This paper applies and perfects interval grey processing time measurement method, grey number calculation and comparison rules, grey Gantt chart and other methods. A flexible flow shop scheduling model with interval grey processing time is established, and an artificial bee colony algorithm with an adaptive domain search strategy is designed. It provides a comprehensive solution for flexible flow shop scheduling with uncertain processing time.

Details

Grey Systems: Theory and Application, vol. 11 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 17 October 2008

Li‐Ping He and Fu‐Zheng Qu

To survey the approaches to design optimization based on possibility theory and evidence theory comparatively, as well as their prominent characteristics mainly for epistemic…

Abstract

Purpose

To survey the approaches to design optimization based on possibility theory and evidence theory comparatively, as well as their prominent characteristics mainly for epistemic uncertainty.

Design/methodology/approach

Owing to uncertainties encountered in engineering design problems and limitations of the conventional probabilistic approach in handling the impreciseness of data or knowledge, the possibility‐based design optimization (PBDO), evidence‐based design optimization (EBDO) and their integrated approaches are investigated from the viewpoints of computational development and performance improvement. After that, this paper discusses the fusion technologies and an example of integrated approach in reliability to reveal the qualitative value and efficiency.

Findings

It is recognized that more conservative results are obtained with both PBDO and EBDO, which may be appropriate for design against catastrophic failure compared with the probability‐based design. Furthermore, the EBDO design may be less conservative compared with the PBDO design.

Research limitations/implications

How to perfect already‐existing integration approaches in a more generally analytical framework is still an active domain of research.

Practical implications

The paper is a holistic reference for design engineers and industry managers.

Originality/value

The paper is focused on decomposition strategies and fusion technologies, especially addressing epistemic uncertainty for large‐scale and complex systems when statistical data are scarce or incomplete.

Details

Kybernetes, vol. 37 no. 9/10
Type: Research Article
ISSN: 0368-492X

Keywords

Open Access
Article
Publication date: 3 August 2020

Zhao-Peng Li, Li Yang, Si-Rui Li and Xiaoling Yuan

China’s national carbon market will be officially launched in 2020, when it will become the world’s largest carbon market. However, China’s carbon market is faced with various…

1296

Abstract

Purpose

China’s national carbon market will be officially launched in 2020, when it will become the world’s largest carbon market. However, China’s carbon market is faced with various major challenges. One of the most important challenges is its impact on the social and economic development of arid and semi-arid regions. By simulating the carbon price trends under different economic development and energy consumption levels, this study aims to help the government can plan ahead to formulate various countermeasures to promote the integration of arid and semi-arid regions into the national carbon market.

Design/methodology/approach

To achieve this goal, this paper builds a back propagation neural network model, takes the third phase of the European Union Emissions Trading System (EU ETS) as the research object and uses the mean impact value method to screen out the important driving variables of European Union Allowance (EUA) price, including economic development (Stoxx600, Stoxx50, FTSE, CAC40 and DAX), black energy (coal and Brent), clean energy (gas, PV Crystalox Solar and Nordex) and carbon price alternatives Certification Emission Reduction (CER). Finally, this paper sets up six scenarios by combining the above variables to simulate the impact of different economic development and energy consumption levels on carbon price trends.

Findings

Under the control of the unchanged CER price level, economic development, black energy and clean energy development will all have a certain impact on the EUA price trends. When economic development, black energy consumption and clean energy development are on the rise, the EUA price level will increase. When the three types of variables show a downward trend, except for the sluggish development of clean energy, which will cause the EUA price to rise sharply, the EUA price trend will also decline accordingly in the remaining scenarios.

Originality/value

On the one hand, this paper incorporates driving factors of carbon price into the construction of carbon price prediction system, which not only has higher prediction accuracy but also can simulate the long-term price trend. On the other hand, this paper uses scenario simulation to show the size, direction and duration of the impact of economic development, black energy consumption and clean energy development on carbon prices in a more intuitive way.

Details

International Journal of Climate Change Strategies and Management, vol. 12 no. 5
Type: Research Article
ISSN: 1756-8692

Keywords

Book part
Publication date: 5 October 2018

Nima Gerami Seresht, Rodolfo Lourenzutti, Ahmad Salah and Aminah Robinson Fayek

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and…

Abstract

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Keywords

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