E-ISSN: 2148-9386
Container Ship Investment Analysis Using Picture Fuzzy Present Worth Analysis [JEMS Maritime Sci]
JEMS Maritime Sci. 2021; 9(4): 233-242 | DOI: 10.4274/jems.2021.89156

Container Ship Investment Analysis Using Picture Fuzzy Present Worth Analysis

Eda Boltürk
İstanbul Technical University, Department of Industrial Engineering, İstanbul, Turkey

Investment analysis plays an important role in today’s global engineering projects. The present worth analysis is an important investment analysis tool and method in engineering economics. These analyses are performed by humans, and human thoughts are hesitant. Fuzzy sets are frequently used in the literature to eliminate ambiguities in human thoughts. In 1965, Zadeh proposed fuzzy logic as a method of obtaining improved solutions to problems. Since then, fuzzy logic has extended to include hesitant fuzzy sets, q-rung fuzzy sets, Pythagorean fuzzy sets, picture fuzzy sets, type-2 fuzzy sets, Fermatean fuzzy sets, and Spherical fuzzy sets. As can be seen in the literature, present worth analysis has also been extended to its fuzzy versions, such as hesitant present worth analysis and spherical fuzzy present worth analysis. In this study, picture fuzzy present worth analysis is proposed as a new extension of present worth analysis that uses picture fuzzy sets in to create an alternative usage in investment analysis. The introduced method is presented step by step, and a sensitivity analysis is presented with risky parameters in the present worth analysis. Furthermore, the proposed method is compared with spherical fuzzy and classic crisp present worth analysis. The proposed method is used in container ship investment analysis, and future suggestions are provided in the conclusion section.

Keywords: Engineering economics, Picture fuzzy sets, Container ship, Maritime logistics, Investment analysis

Eda Boltürk. Container Ship Investment Analysis Using Picture Fuzzy Present Worth Analysis. JEMS Maritime Sci. 2021; 9(4): 233-242

Corresponding Author: Eda Boltürk, Türkiye
Manuscript Language: English
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