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Volume 21, Number 2. November 2016

Simulation decomposition: new approach for better simulation analysis of multi-variable investment projects

M. Kozlova

M. Collan

P. Luukka

This paper presents a new method to enhance simulation-based analysis of complex investments that contain multi-variable uncertainty. The method is called “simulation decomposition”. Typically the result of simulation-based investment analysis is in the form of histogram distributions - here we propose a method for first classifying the possible outcomes of…

Fuzzy grouping variables in economic analysis. a pilot study of a verification of a normative model for r&d alliances

A. Morreale

J. Stoklasa

T. Talášek

Many of the investments decisions facing with uncertainty can be characterized as real options problems. There is evidence of deviation from the predictions derived using such normative models. The proposed research sheds light on the importance of integrating normative models with experimental methods in order to predict and explain such…

Real option approach for comparing lifetime costs of alternative diabetes type i treatment methods

Tero Haahtela

This paper compares with cash flow simulation real option valuation method the costs of treating diabetes type 1 (T1D) with the commonly used multiple daily injection (MDI) method and the novel method of combining insulin pump and continuous glucose monitoring (CSII + CGM) into a hybrid closed-loop system. Both direct…

Similarity classifier with weighted ordered weighted averaging operator

O. Kurama

P. Luukka

M. Collan

In this paper we present a similarity-based classifier that utilizes a weighted ordered weighted averaging (WOWA) operator in the aggregation of infor-mation. The aggregation process used in the WOWA operator is studied and tested with five different Regular Increasing Monotonic (RIM) weight generators or quantifiers. The proposed approach is tested…

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