Fuzzy Management Methods Series Editors: Andreas Meier · Witold Pedrycz · Edy Portmann Andreas Meier Edy Portmann Luis Terán Editors Applying Fuzzy Logic for the Digital Economy and Society Fuzzy Management Methods SeriesEditors AndreasMeier,Fribourg,Switzerland WitoldPedrycz,Edmonton,Canada EdyPortmann,Bern,Switzerland Moreinformationaboutthisseriesathttp://www.springer.com/series/11223 Andreas Meier • Edy Portmann (cid:129) Luis Terán Editors Applying Fuzzy Logic for the Digital Economy and Society 123 Editors AndreasMeier EdyPortmann DepartmentofInformatics Human-ISTInstitute UniversityofFribourg UniversityofFribourg Fribourg,Switzerland Fribourg,Switzerland LuisTerán DepartmentofComputerScience UniversidaddelasFuerzasArmadas (ESPE) Sangolquí,Ecuador DepartmentofInformatics UniversityofFribourg Fribourg,Switzerland ISSN2196-4130 ISSN2196-4149 (electronic) FuzzyManagementMethods ISBN978-3-030-03367-5 ISBN978-3-030-03368-2 (eBook) https://doi.org/10.1007/978-3-030-03368-2 LibraryofCongressControlNumber:2019931371 ©SpringerNatureSwitzerlandAG2019 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpartof thematerialisconcerned,specificallytherightsoftranslation,reprinting,reuseofillustrations,recitation, broadcasting,reproductiononmicrofilmsorinanyotherphysicalway,andtransmissionorinformation storageandretrieval,electronicadaptation,computersoftware,orbysimilarordissimilarmethodology nowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. Thepublisher,theauthors,andtheeditorsaresafetoassumethattheadviceandinformationinthisbook arebelievedtobetrueandaccurateatthedateofpublication.Neitherthepublishernortheauthorsor theeditorsgiveawarranty,expressorimplied,withrespecttothematerialcontainedhereinorforany errorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregardtojurisdictional claimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland Preface With today’sinformationoverload,it hasbecome increasinglydifficultto analyze the huge amounts of data and to generate appropriate management decisions. Furthermore, the data are often imprecise and will include both quantitative and qualitative elements. For these reasons, it is important to extend traditional decision-makingprocesses by adding intuitive reasoning, human subjectivity, and imprecision. In the age of big data, decision-making processes for economy and society havetodealwithuncertainty,vagueness,andimprecision.Besidesvolume,variety, and velocity, two others V’s for veracity and value have also to be taken into consideration.Therefore, the application of fuzzy sets and fuzzy logic becomes a hottopic. In2008,theDepartmentforInformaticsattheUniversityofFribourg,Switzer- land,foundeditsResearchCenterforFuzzyManagementMethods(FMM=FM2), often only called FMsquare. Later on, the InternationalResearch Book Series for FMsquare was launched by Springer, where researchers published in fuzzy-based reputation management, fuzzy classification of online customers, inductive fuzzy classification for marketing analytics, fuzzy data warehousing for performance measurement,usingintuitionisticfuzzysetsforservicelevelengineering,building aknowledgecarrierbasedongranularcomputing,andafuzzy-basedrecommender systemforpoliticalcommunities,amongothers. Tocelebratethe10thanniversaryofFMsquarein2018,internationalresearchers havebeeninvitedtosubmittheircontributionsinthefollowingtopics: (cid:129) Fuzzy-basedportfoliomanagement (cid:129) Webanalyticswithfuzzymeasures (cid:129) Communitymarketingwithfuzzyapproaches (cid:129) Fuzzy-basedcustomerequity (cid:129) Businessprocessmodelingwithwords (cid:129) Dataminingwithfuzzyreasoning (cid:129) Fuzzycognitivemapsforknowledgemanagement (cid:129) Fuzzy-basedstakeholdermanagement v vi Preface (cid:129) Sense-makingwithvaguedata (cid:129) Relatedtopics After the international call for book chapters in November 2017, ten chapters were selected for this book in April 2018. The book presents state-of-the-art methods, case studies, and web-based services for a digital economy and society. The target audience are researchers, practitioners, project leaders, politicians, and managerswholiketoapplyorimprovefuzzy-basedskills. Fribourg,Switzerland AndreasMeier Fribourg,Switzerland EdyPortmann Sangolquí,Ecuador LuisTerán July2018 Contents 1 TestingHypothesesbyFuzzyMethods:AComparisonwiththe ClassicalApproach......................................................... 1 RédinaBerkachyandLaurentDonzé 2 InterpolativeBooleanApproachforFuzzyPortfolioSelection........ 23 AleksandarRakic´evic´,PavleMiloševic´,AnaPoledica, IvanaDragovic´,andBratislavPetrovic´ 3 AFuzzy-BasedDiscountsRecommenderSystemforPublic TaxPayment ................................................................ 47 JaimeMeza,LuisTerán,andMarthaTomalá 4 FuzzyBasedInvestmentPortfolioManagement........................ 73 MayankPandey,VikasSingh,andNishchalK.Verma 5 Z-Numbers Based TOPSIS Similarity Methodology for CompanyPerformanceAssessmentinMalaysia........................ 97 KuMuhammadNaimKuKhalif,AhmadSyafadhliAbuBakar, andAlexanderGegov 6 ModelingHumanPerceptionsine-CommerceApplications:A CaseStudyonBusiness-to-ConsumersWebsitesintheTextile andFashionSector ......................................................... 115 AdrianCastro-LopezandJoseM.Alonso 7 GreyNumber Based MethodologyforNon-homogeneous PreferenceElicitationinFuzzyRiskAnalysisManagement........... 135 AhmadSyafadhliAbuBakar,KuMuhammadNaim KuKhalif, AbdulMalekYaakob,AlexanderGegov,andAhmadZakiMohamad Amin 8 FuzzyBayesianNetsandInfluenceDiagramswithCognitive NumericalJudgmentofImpreciseProbabilities........................ 149 AleksandarJanjic´,JelenaD.Velimirovic´,andLazarZ.Velimirovic´ vii viii Contents 9 OilfieldAbandonmentDecisionbyApplyingaFuzzyPay-Off MethodforRealOptions .................................................. 169 RobertoEvelimPenhaBorges,AndreasMeier,MarcoAntonio GuimarãesDias,andAdriãoDuarteDóriaNeto 10 AFuzzy-BasedRecommenderSystem:CaseBörsenspielfor SwissUniversities........................................................... 185 JoséMancera,MinhTueNguyen,andEdyPortmann Contributors JoseM. Alonso CentroSingulardeInvestigaciónenTecnoloxíasdaInformación (CiTIUS),UniversidadedeSantiagodeCompostela,SantiagodeCompostela,Spain Ahmad Zaki Mohamad Amin Mathematics Division, Centre for Foundation StudiesinScience,UniversityofMalaya,KualaLumpur,Malaysia Ahmad Syafadhli Abu Bakar Mathematics Division, Centre for Foundation StudiesinScience,UniversityofMalaya,KualaLumpur,Malaysia Centre of Research for Computational Sciences and Informatics in Biology, Bioindustry, Environment, Agriculture and Healthcare (CRYSTAL), University ofMalaya,KualaLumpur,Malaysia Rédina Berkachy Applied Statistics and Modelling, Department of Informatics, Faculty of Economics and Social Sciences, University of Fribourg, Fribourg, Switzerland Roberto Evelim Penha Borges Universidade Federal do Rio Grande do Norte, Natal,Brazil AdrianCastro-Lopez BusinessAdministrationDepartment,FacultyofEconomic andBusiness,UniversityofOviedo,Oviedo,Spain Marco Antonio Guimarães Dias Pontifícia Universidade Católica do Rio de Janeiro,RiodeJaneiro,Brazil Laurent Donzé Applied Statistics and Modelling, Department of Informatics, Faculty of Economics and Social Sciences, University of Fribourg, Fribourg, Switzerland Ivana Dragovic´ Faculty of Organizational Sciences, University of Belgrade, Belgrade,Serbia Alexander Gegov School of Computing, University of Portsmouth, Portsmouth, UK ix