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Published in:
2008 | OriginalPaper | Chapter
Fuzzy Benefit/Cost Analysis and Applications
Authors : Cengiz Kahraman, İhsan Kaya
Published in: Fuzzy Engineering Economics with Applications
Publisher: Springer Berlin Heidelberg
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Benefit-cost analysis is a systematic evaluation of the economic advantages (benefits) and disadvantages (costs) of a set of investment alternatives. The objective of a benefit-cost analysis is to translate the effects of an investment into monetary terms and to account for the fact that benefits generally accrue over a long period of time while capital costs are incurred primarily in the initial years. In this chapter, benefit cost ratio (BCR) analysis is analyzed under fuzzy environment. Fuzzy continuous payments and fuzzy discrete payments are summarized briefly and two applications are illustrated.