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Fuzzy Risks and an Updating Algorithm with New Observations
Author(s) -
Huang Chongfu,
Ruan Da
Publication year - 2008
Publication title -
risk analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.972
H-Index - 130
eISSN - 1539-6924
pISSN - 0272-4332
DOI - 10.1111/j.1539-6924.2008.01057.x
Subject(s) - fuzzy logic , economic shortage , fuzzy set , data mining , computer science , set (abstract data type) , fuzzy set operations , risk management , flood myth , risk analysis (engineering) , algorithm , artificial intelligence , geography , business , philosophy , linguistics , finance , government (linguistics) , programming language , archaeology
Concerning the essence of risk, we suggest a new definition of risk: a scene in the future associated with some adverse incident. In many cases, risks are rather fuzzy for our perception because of the shortage of knowledge or information about the systems that determine the adverse incidents. We introduce a concept of fuzzy risk based on the new risk definition and fuzzy sets. And, in this article, we suggest a fuzzy average algorithm to update a fuzzy risk that stores all information from the original data. To illustrate the algorithm, we update a soft risk map of flood where the fuzzy risks are calculated using the interior‐outer‐set model.