Cost-Benefit Analysis and the Theory of Fuzzy Decisions

Cost-Benefit Analysis and the Theory of Fuzzy Decisions Synopsis

Criticism is the habitus of the contemplative intellect, whereby we try to recognize with probability the genuine quality of a l- erary work by using appropriate aids and rules. In so doing, c- tain general and particular points must be considered. The art of interpretation or hermeneutics is the habitus of the contemplative intellect of probing into the sense of somewhat special text by using logical rules and suitable means. Note : Hermeneutics differs from criticism as the part does from the whole. Antonius Gvilielmus Amo Afer (1727) There is no such thing as absolute truth. At best it is a subj- tive criterion, but one based upon valuation. Unfortunately, too many people place their fate in the hands of subjective without properly evaluating it. Arnold A. Kaufmann and Madan M. Gupta The development of cost benefit analysis and the theory of fuzzy decision was divided into two inter-dependent structures of identification and measurement theory on one hand and fuzzy value theory one the other. Each of them has sub-theories that constitute a complete logical system.