A fuzzy stochastic single-period model for cash management
Resource
European Journal of Operational Research 170,72-90
Journal
European Journal of Operational Research 170
Pages
72-90
Date Issued
2006-04
Date
2006-04
Author(s)
Yao, Jing-Shing
Chen, Miao-Sheng
Lu, Huei-Fu
DOI
246246/2006111501254730
Abstract
The major purpose of this paper is to apply a stochastic single-period inventory management approach to analyze optimal cash management policies with fuzzy cash demand based on fuzzy integral method so that total cost is minimized. We will find that, after defuzzification, the cash-raising amounts & the total costs between the fuzzy case & the crisp case are slightly different when the variation of cash demand is small. As a result, we point out that the fuzzy stochastic single-period model is one extension of the crisp models. In any case, one may conclude that a conscientious analysis in fuzzy mathematics like that presented in this paper provides a financial decision maker with a deeper insight into the more real cash management problem.
Subjects
Fuzzy sets
Stochastic single-period model
Cash management
Fuzzy integral
Signed distance method
Type
journal article
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