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International Journal of Fundamental Research
A Peer-reviewed, Multidisciplinary Journal

Fuzzy Mathematics in Economics

a Department of Mathematics, P.U.P. College, Motihari - 845401 (B.R.A. Bihar University, Muzaffarpur)

Received: 02-02-2026,  Revised: 04-03-2026,  Accepted: 09-04-2026,  Available online: 12-04-2026

DOI 10.12345/ijfr.2026.010104 ↗

Abstract

Fuzzy Mathematics is an expansion of fuzzy sets. An American Professor of Computer Science, Lofti Zadeh introduced the concept of fuzzy sets, in 1965. The capability of fuzzy sets to express gradual transitions from membership to non-membership and vice-versa has a wide utility. The major thrust of Economics is to describe the behaviours of individual units like consumers, householders, firms, government agencies and their interactions. Fuzzy Mathematics seems to be more suited in explaining the concepts of Economics than the classical results from our well-known Mathematics. In this paper, fuzzy welfare measure is discussed with a proper explanation.

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References

  1. Howie, J.M.: ‘An Introduction to semigroup Theory’: Academic Press, New York, 1976.
  2. Kakwani, N.K., ‘On a Class of Poverty Measures’ Ecomometrica, 48(1980).
  3. Klir, G.J., Yuan, B., ‘Fuzzy Sets and Fuzzy Logic’. Prentice Hall, New Delhi, 2001.
  4. Ovchinnikov, S.; ‘Transitive Fuzzy Ordering of Fuzzy Numbers’, Fuzzy Sets and Systems, 30, (1989).
How to Cite

Mishra, A. K. (2026). Fuzzy Mathematics in Economics. International Journal of Fundamental Research, 1 (1), 16-17. https://doi.org/10.12345/ijfr.2026.010104