Fuzzy real option analysis in patent related decision making and patent valuation

The shift towards a knowledge-based economy has inevitably prompted the evolution of patent exploitation. Nowadays, patent is more than just a prevention tool for a company to block its competitors from developing rival technologies, but lies at the very heart of its strategy for value creation and is therefore strategically exploited for economic pro t and competitive advantage. Along with the evolution of patent exploitation, the demand for reliable and systematic patent valuation has also reached an unprecedented level. However, most of the quantitative approaches in use to assess patent could arguably fall into four categories and they are based solely on the conventional discounted cash flow analysis, whose usability and reliability in the context of patent valuation are greatly limited by five practical issues: the market illiquidity, the poor data availability, discriminatory cash-flow estimations, and its incapability to account for changing risk and managerial flexibility. This dissertation attempts to overcome these impeding barriers by rationalizing the use of two techniques, namely fuzzy set theory (aiming at the first three issues) and real option analysis (aiming at the last two). It commences with an investigation into the nature of the uncertainties inherent in patent cash flow estimation and claims that two levels of uncertainties must be properly accounted for. Further investigation reveals that both levels of uncertainties fall under the categorization of subjective uncertainty, which differs from objective uncertainty originating from inherent randomness in that uncertainties labelled as subjective are highly related to the behavioural aspects of decision making and are usually witnessed whenever human judgement, evaluation or reasoning is crucial to the system under consideration and there exists a lack of complete knowledge on its variables. Having clarified their nature, the application of fuzzy set theory in modelling patent-related uncertain quantities is effortlessly justified. The application of real option analysis to patent valuation is prompted by the fact that both patent application process and the subsequent patent exploitation (or commercialization) are subject to a wide range of decisions at multiple successive stages. In other words, both patent applicants and patentees are faced with a large variety of courses of action as to how their patent applications and granted patents can be managed. Since they have the right to run their projects actively, this flexibility has value and thus must be properly accounted for. Accordingly, an explicit identification of the types of managerial flexibility inherent in patent-related decision making problems and in patent valuation, and a discussion on how they could be interpreted in terms of real options are provided in this dissertation. Additionally, the use of the proposed techniques in practical applications is demonstrated by three fuzzy real option analysis based models. In particular, the pay-of method and the extended fuzzy Black-Scholes model are employed to investigate the profitability of a patent application project for a new process for the preparation of a gypsum-fibre composite and to justify the subsequent patent commercialization decision, respectively; a fuzzy binomial model is designed to reveal the economic potential of a patent licensing opportunity.

Estimating the average length of hospitalization due to pneumonia: a fuzzy approach

Exposure to air pollutants is associated with hospitalizations due to pneumonia in children. We hypothesized the length of hospitalization due to pneumonia may be dependent on air pollutant concentrations. Therefore, we built a computational model using fuzzy logic tools to predict the mean time of hospitalization due to pneumonia in children living in São José dos Campos, SP, Brazil. The model was built with four inputs related to pollutant concentrations and effective temperature, and the output was related to the mean length of hospitalization. Each input had two membership functions and the output had four membership functions, generating 16 rules. The model was validated against real data, and a receiver operating characteristic (ROC) curve was constructed to evaluate model performance. The values predicted by the model were significantly correlated with real data. Sulfur dioxide and particulate matter significantly predicted the mean length of hospitalization in lags 0, 1, and 2. This model can contribute to the care provided to children with pneumonia.

Modelling Energy Consumption of a Switch using Fuzzy-Rule Classifier

The energy consumption of IT equipments is becoming an issue of increasing importance. In particular, network equipments such as routers and switches are major contributors to the energy consumption of internet. Therefore it is important to understand how the relationship between input parameters such as bandwidth, number of active ports, traffic-load, hibernation-mode and their impact on energy consumption of a switch. In this paper, the energy consumption of a switch is analyzed in extensive experiments. A fuzzy rule-based model of energy consumption of a switch is proposed based on the result of experiments. The model can be used to predict the energy saving when deploying new switches by controlling the parameters to achieve desired energy consumption and subsequent performance. Furthermore, the model can also be used for further researches on energy saving techniques such as energy-efficient routing protocol, dynamic link shutdown, etc.

Estimating microalgae Synechococcus nidulans daily biomass concentration using neuro-fuzzy network

In this study, a neuro-fuzzy estimator was developed for the estimation of biomass concentration of the microalgae Synechococcus nidulans from initial batch concentrations, aiming to predict daily productivity. Nine replica experiments were performed. The growth was monitored daily through the culture medium optic density and kept constant up to the end of the exponential phase. The network training followed a full 3³ factorial design, in which the factors were the number of days in the entry vector (3,5 and 7 days), number of clusters (10, 30 and 50 clusters) and internal weight softening parameter (Sigma) (0.30, 0.45 and 0.60). These factors were confronted with the sum of the quadratic error in the validations. The validations had 24 (A) and 18 (B) days of culture growth. The validations demonstrated that in long-term experiments (Validation A) the use of a few clusters and high Sigma is necessary. However, in short-term experiments (Validation B), Sigma did not influence the result. The optimum point occurred within 3 days in the entry vector, 10 clusters and 0.60 Sigma and the mean determination coefficient was 0.95. The neuro-fuzzy estimator proved a credible alternative to predict the microalgae growth.

L-Fuzzy Relations in Coq

Heyting categories, a variant of Dedekind categories, and Arrow categories provide a convenient framework for expressing and reasoning about fuzzy relations and programs based on those methods. In this thesis we present an implementation of Heyting and arrow categories suitable for reasoning and program execution using Coq, an interactive theorem prover based on Higher-Order Logic (HOL) with dependent types. This implementation can be used to specify and develop correct software based on L-fuzzy relations such as fuzzy controllers. We give an overview of lattices, L-fuzzy relations, category theory and dependent type theory before describing our implementation. In addition, we provide examples of program executions based on our framework.

An Abstract Algebraic Theory of L-Fuzzy Relations for Relational Databases

Classical relational databases lack proper ways to manage certain real-world situations including imprecise or uncertain data. Fuzzy databases overcome this limitation by allowing each entry in the table to be a fuzzy set where each element of the corresponding domain is assigned a membership degree from the real interval [0…1]. But this fuzzy mechanism becomes inappropriate in modelling scenarios where data might be incomparable. Therefore, we become interested in further generalization of fuzzy database into L-fuzzy database. In such a database, the characteristic function for a fuzzy set maps to an arbitrary complete Brouwerian lattice L. From the query language perspectives, the language of fuzzy database, FSQL extends the regular Structured Query Language (SQL) by adding fuzzy specific constructions. In addition to that, L-fuzzy query language LFSQL introduces appropriate linguistic operations to define and manipulate inexact data in an L-fuzzy database. This research mainly focuses on defining the semantics of LFSQL. However, it requires an abstract algebraic theory which can be used to prove all the properties of, and operations on, L-fuzzy relations. In our study, we show that the theory of arrow categories forms a suitable framework for that. Therefore, we define the semantics of LFSQL in the abstract notion of an arrow category. In addition, we implement the operations of L-fuzzy relations in Haskell and develop a parser that translates algebraic expressions into our implementation.

L-Fuzzy Structured Query Language

Lattice valued fuzziness is more general than crispness or fuzziness based on the unit interval. In this work, we present a query language for a lattice based fuzzy database. We define a Lattice Fuzzy Structured Query Language (LFSQL) taking its membership values from an arbitrary lattice L. LFSQL can handle, manage and represent crisp values, linear ordered membership degrees and also allows membership degrees from lattices with non-comparable values. This gives richer membership degrees, and hence makes LFSQL more flexible than FSQL or SQL. In order to handle vagueness or imprecise information, every entry into an L-fuzzy database is an L-fuzzy set instead of crisp values. All of this makes LFSQL an ideal query language to handle imprecise data where some factors are non-comparable. After defining the syntax of the language formally, we provide its semantics using L-fuzzy sets and relations. The semantics can be used in future work to investigate concepts such as functional dependencies. Last but not least, we present a parser for LFSQL implemented in Haskell.

Studies on Fuzzy Graphs

In this thesis an attempt to develop the properties of basic concepts in fuzzy graphs such as fuzzy bridges, fuzzy cutnodes, fuzzy trees and blocks in fuzzy graphs have been made. The notion of complement of a fuzzy graph is modified and some of its properties are studied. Since the notion of complement has just been initiated, several properties of G and G available for crisp graphs can be studied for fuzzy graphs also. Mainly focused on fuzzy trees defined by Rosenfeld in [10] , several other types of fuzzy trees are defined depending on the acyclicity level of a fuzzy graph. It is observed that there are selfcentered fuzzy trees. Some operations on fuzzy graphs and prove that complement of the union two fuzzy graphs is the join of their complements and complement of the join of two fuzzy graphs is union of their complements. The study of fuzzy graphs made in this thesis is far from being complete. The wide ranging applications of graph theory and the interdisciplinary nature of fuzzy set theory, if properly blended together could pave a way for a substantial growth of fuzzy graph theory.

Fuzzy Absolutes and Related Topics

The study on the fuzzy absolutes and related topics. The different kinds of extensions especially compactification formed a major area of study in topology. Perfect continuous mappings always preserve certain topological properties. The concept of Fuzzy sets introduced by the American Cyberneticist L. A Zadeh started a revolution in every branch of knowledge and in particular in every branch of mathematics. Fuzziness is a kind of uncertainty and uncertainty of a symbol lies in the lack of well-defined boundaries of the set of objects to which this symbol belongs. Introduce an s-continuous mapping from a topological space to a fuzzy topological space and prove that the image of an H-closed space under an s-continuous mapping is f-H closed. Here also proved that the arbitrary product fi and sum of  fi of the s-continuous maps fi are also s-continuous. The original motivation behind the study of absolutes was the problem of characterizing the projective objects in the category of compact spaces and continuous functions.

Some Generalizations of Fuzzy Metrizability

The main purpose of the study is to extent concept of the class of spaces called ‘generalized metric spaces’ to fuzzy context and investigates its properties. Any class of spaces defined by a property possessed by all metric spaces could technically be called as a class of ‘generalized metric spaces’. But the term is meant for classes, which are ‘close’ to metrizable spaces in some under certain kinds of mappings. The theory of generalized metric spaces is closely related to ‘metrization theory’. The class of spaces likes Morita’s M- spaces, Borges’s w-spaces, Arhangelskii’s p-spaces, Okuyama’s  spaces have major roles in the theory of generalized metric spaces. The thesis introduces fuzzy metrizable spaces, fuzzy submetrizable spaces and proves some characterizations of fuzzy submetrizable spaces, and also the fuzzy generalized metric spaces like fuzzy w-spaces, fuzzy Moore spaces, fuzzy M-spaces, fuzzy k-spaces, fuzzy -spaces study of their properties, prove some equivalent conditions for fuzzy p-spaces. The concept of a network is one of the most useful tools in the theory of generalized metric spaces. The -spaces is a class of generalized metric spaces having a network.

Fuzzy Topological Games and Related Topics

The main purpose of study is to extend the concept of the topological game G(K, X) and some other kinds of games into fuzzy topological games and to obtain some results regarding them. Owing to the fact that topological games have plenty of applications in covering properties, it made an attempt to explore some inter relations of games and covering properties in fuzzy topological spaces. Even though the main focus is on fuzzy para-meta compact spaces and closure preserving shading families, some brief sketches regarding fuzzy P-spaces and Shading Dimension is also provided. In a topological game players choose some objects related to the topological structure of a space such as points, closed subsets, open covers etc. More over the condition on a play to be winning for a player may also include topological notions such as closure, convergence, etc. It turns out that topological games are related to the Baire property, Baire spaces, Completeness properties, Convergence properties, Separation properties, Covering and Base properties, Continuous images, Suslin sets, Singular spaces etc.

A Study Of Frames In The Fuzzy And Intuitionist Fuzzy Contexts

The fuzzy set theory has a wider scope of applicability than classical set theory in solving various problems. Fuzzy set theory in the last three decades as a formal theory which got formalized by generalizing the original ideas and concepts in classical mathematical areas and as a very powerful modeling language, that can cope with a large fraction of uncertainties of real life situations. In Intuitionistic Fuzzy sets a new component degree of non membership in addition to the degree of membership in the case of fuzzy sets with the requirement that their sum be less than or equal to one. The main objective of this thesis is to study frames in Fuzzy and Intuitionistic Fuzzy contexts. The thesis proved some results such as ifµ is a fuzzy subset of a frame F, then µ is a fuzzy frame of F iff each non-empty level subset µt of µ is a subframe of F, the category Fuzzfrm of fuzzy frames has products and the category Fuzzfrm of fuzzy frames is complete. It define a fuzzy-quotient frame of F to be a fuzzy partition of F, that is, a subset of IF and having a frame structure with respect to new operations and study the notion of intuitionistic fuzzy frames and obtain some results and introduce the concept of Intuitionistic fuzzy Quotient frames. Finally it establish the categorical link between frames and intuitionistic fuzzy topologies.

Box Products in Fuzzy Topological Spaces and Related Topics

The topology as the product set with a base chosen as all products of open sets in the individual spaces. This topology is known as box topology. The main objective of this study is to extend the concept of box products to fuzzy box products and to obtain some results regarding them. Owing to the fact that box products have plenty of applications in uniform and covering properties, here made an attempt to explore some inter relations of fuzzy uniform properties and fuzzy covering properties in fuzzy box products. Even though the main focus is on fuzzy box products, some brief sketches regarding hereditarily fuzzy normal spaces and fuzzy nabla product is also provided. The main results obtained include characterization of fuzzy Hausdroffness and fuzzy regularity of box products of fuzzy topological spaces. The investigation of the completeness of fuzzy uniformities in fuzzy box products proved that a fuzzy box product of spaces is fuzzy topologically complete if each co-ordinate space is fuzzy topologically complete. The thesis also prove that the fuzzy box product of a family of fuzzy α-paracompact spaces is fuzzy topologically complete. In Fuzzy box product of hereditarily fuzzy normal spaces, the main result obtained is that if a fuzzy box product of spaces is hereditarily fuzzy normal ,then every countable subset of it is fuzzy closed. It also deals with the notion of fuzzy nabla product of spaces which is a quotient of fuzzy box product. Here the study deals the relation connecting fuzzy box product and fuzzy nabla product

Study on Fuzzy Ordered FuzzyTopological Spaces

In this study we combine the notions of fuzzy order and fuzzy topology of Chang and define fuzzy ordered fuzzy topological space. Its various properties are analysed. Product, quotient, union and intersection of fuzzy orders are introduced. Besides, fuzzy order preserving maps and various fuzzy completeness are investigated. Finally an attempt is made to study the notion of generalized fuzzy ordered fuzzy topological space by considering fuzzy order defined on a fuzzy subset.