FUZZY SETS AND ECONOMICS

Applications of Fuzzy Mathematics to Non-Cooperative Oligopoly

Yusuf M. Mansur, Formerly Assistant Professor of Economics, University of Oklahoma, US

The widespread use of fuzzy set theory in almost every science attests to its intuitive appeal and the powerful insights it offers. Despite its relevance as a tool for evaluating non-stochastic behavioural uncertainty and its clear applicability to the business world, fuzzy mathematics has yet to establish itself in mainstream economic analysis.