Solving decision-making problems requires efficient handling of uncertainties. This task has been usually performed by means of expert systems which are based on classical logic and, therefore, need special methods such as heuristic approaches, probability theory, possibility theory, and fuzzy theory. The later approach, fuzzy reasoning and logic, offers a more natural way of handling uncertainty since it is similar to human logical reasoning. In this paper, we develop a fuzzy logic model for assessment and prediction of country risk. This fuzzy method provides a systematic approach to analyzing a target country. By its nature, the decision making for global market involves various uncertain criteria; therefore, the fuzzy approach is suitable for this kind of analysis. The advantages of the approach are inclusion of economic data, consideration of political/social factors, and the ability to handle exact and fuzzy data.
Murtaza, Mirza and Zeidan, Faisal
"A decision support model for management of fuzziness in global risk assessment,"
Journal of International Information Management: Vol. 7
, Article 3.
Available at: http://scholarworks.lib.csusb.edu/jiim/vol7/iss2/3