FUZZY LOGIC

Risk Management and Decision Making Glossary

Risk Management and Decision Making — Fuzzy Logic

Information on Fuzzy Logic

Fuzzy logic is a superset of conventional (Boolean) logic that has been extended to multi-valued sets, to handle the concept of partial truth, that is, truth values between completely true and completely false. Fuzzy logic was introduced in 1965 by Dr Lotfi Zahdek, then Chair of UC Berkley’s Electrical Engineering Department, as a way of modelling the uncertainties of natural language. See Kosko (1993). In psychological terms, Pinker (1997: 101) explains that ... " In many domains people do not have all-or-none convictions about whether something is true."

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