The natural world which we live in, is a world of imprecision and in-exactitude. The fuzziness is the rule rather than an exception. The matter of making decision in a fuzzy environment is of great importance for all of us. The parameters of considered models are often only apparently firm. This leads often to wrong decisions.

"Sharp statements about our reality are wrong, or vice versa, accurate ideas about our reality lead to no sharp statements" Albert Einstein

"The law of excluded middle is true when precise symbols are employed, but it is non-true when symbols are vague, as in fact all symbols are." Bertrand Russel

• The fuzzy sets theory and      
• The theory of Linear Partial Information (LPI^©)

The LPI- theory is mathematically simpler and better applicable in practice.

Christoffer Kofler Wilkensvej 8, 2 tv DK - 2000 Frederiksberg Ph.: +45 48 17 68 08 E-mail address: christoffer@kofler.com

Thomas Kofler Credit Suisse Asset Management Uetlibergstrasse 231 P.O.Box 800 CH - 8070 Zürich Ph.: +41 56 633 00 56 Fax: +41 56 633 00 56 E-mail address: thomas@kofler.com

FOR MORE COMPREHENSIVE INFORMATION ABOUT

CLICK :

CLICK HERE FOR THE HOME PAGE OF THE INSTITUTE FOR ECONOMICAL RESEARCH

CLICK HERE FOR THE WEB SITE OF THE UNIVERSITY