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Modeling Of Economic Uncertainty

Author

Listed:
  • Schjaer-Jacobsen, Hans

    (Danfoss Management Institute)

Abstract

Representation and modeling of economic uncertainty is addressed by different modeling methods, namely stochastic variables and probabilities (including Monte Carlo simulation), interval analysis, and fuzzy numbers, in particular triple and quadruple esti-mates. Focusing on discounted cash flow analysis numerical results are presented, comparisons are made between alternative modeling methods, and characteristics of the methods are discussed.

Suggested Citation

  • Schjaer-Jacobsen, Hans, 2004. "Modeling Of Economic Uncertainty," Fuzzy Economic Review, International Association for Fuzzy-set Management and Economy (SIGEF), vol. 0(2), pages 49-73, November.
    • Handle: RePEc:fzy:fuzeco:v:ix:y:2004:i:2:p:49-73
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    Citations

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    Cited by:

    1. Ciprian Ionel ALECU, 2011. "Epistemic analysis of methods using elementary triangular fuzzy numbers with associated indicators," THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, Gheorghe Zane Institute for Economic and Social Research ( from THE ROMANIAN ACADEMY, JASSY BRANCH), vol. 20(1), pages 5-12.
    2. Ionel Ciprian Alecu, 2021. "Uncertainty Management Using Triangular Fuzzy Numbers with Associated Variable Indicators," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 555-561, December.

    More about this item

    Keywords

    economic uncertainty; modeling; stochastic; probability; Monte Carlo; interval; fuzzy number; triple and quadruple estimate.;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

    Statistics

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