Authors: Stanojević, Bogdana 
Dzitac, Simona
Dzitac, Ioan
Affiliations: Mathematical Institute of the Serbian Academy of Sciences and Arts 
Title: Fuzzy Numbers and Fractional Programming in Making Decisions
Journal: International Journal of Information Technology & Decision Making
Volume: 19
Issue: 4
First page: 1123
Last page: 1147
Issue Date: 2020
Rank: M21
ISSN: 0219-6220
DOI: 10.1142/S0219622020300037
This study surveys the use of fuzzy numbers in classic optimization models, and its effects on making decisions. In a wide sense, mathematical programming is a collection of tools used in mathematical optimization to make good decisions. There are many sectors of economy that employ it. Finance and government, logistics and manufacturing, the distribution of the electrical power are worth to be first mentioned.
When real life problems are modeled mathematically, there is always a trade-off between model’s accuracy and complexity. By this survey, we aim to present in a concise form some mathematical models from the literature together with the methods to solve them. We will focus mainly on fuzzy fractional programming problems. We will also refer to but not describe in detail the multi-criteria decision-making problems involving fuzzy numbers and linear fractional programming models.
Keywords: Fuzzy numbers | Fuzzy optimization | Linear fractional programming
Publisher: World Scientific

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