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Fuzzy Logic Applications in Property Evaluation

Fuzzy logic allows elements in a set to have a value between 0 and 1 rather than just 0 or 1. This degree of membership provides a measure of how well an element exemplifies properties of a set. Fuzzy sets can be combined and inferences made based on a specified input function. The article demonstrates applying fuzzy logic to income-producing property valuation, with a fuzzy set output.

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Raza Khan
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65 views1 page

Fuzzy Logic Applications in Property Evaluation

Fuzzy logic allows elements in a set to have a value between 0 and 1 rather than just 0 or 1. This degree of membership provides a measure of how well an element exemplifies properties of a set. Fuzzy sets can be combined and inferences made based on a specified input function. The article demonstrates applying fuzzy logic to income-producing property valuation, with a fuzzy set output.

Uploaded by

Raza Khan
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

ABSTRACT

Fuzzy logic is based on the central idea that in fuzzy sets each element in the set can assume
a value from 0 to 1, not just 0 or 1, as in classic set theory. Thus, qualitative characteristics
and numerically scaled measures can exhibit gradations in the extent to which they belong to
the relevant sets for evaluation. This degree of membership of each element is a measure of
the elements "belonging" to the set, and thus of the precision with which it explains the
phenomenon being evaluated. Fuzzy sets can be combined to produce meaningful
conclusions, and inferences can be made, given a specified fuzzy input function. The article
demonstrates the application of fuzzy logic to an income-producing property, with a resulting
fuzzy set output.

As an example, if S is the set of natural numbers and P is the property odd, then the set {x
S : x is an odd number} is defined. Now, there are properties that are vague and
therefore not well defined. This since they can be satisfied with several different degrees. For
instance, short, big, near, are vague properties. Then, the question arises whether
these properties isolate some type of subset and therefore whether we can give a precise
meaning to intuitive notions as the set of short men, the set of big numbers, the set of
shops near to the station, and so on.

We present several classes of non-classical logics (ranging from many valued and fuzzy
logics to modal and description logics) which can be translated into tractable and relatively
simple fragments of classical logic. We show that, in many cases, such translations can be
obtained using representation theorems for the algebraic models of the logic under
consideration. In this context, we show that refinements of resolution can often be used
successfully for automated theorem proving, and in many cases yield optimal decision
procedures.

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