Fuzzy Sets and Systems
The development of a hybrid intelligent system for developing marketing strategy
Decision Support Systems
Convergence Properties of the Nelder--Mead Simplex Method in Low Dimensions
SIAM Journal on Optimization
A fuzzy decision support system for strategic portfolio management
Decision Support Systems
Fuzzy decision support system for risk analysis in e-commerce development
Decision Support Systems
Uncertainty analysis in political forecasting
Decision Support Systems
Using fuzzy decision making for the evaluation of the project management internal efficiency
Decision Support Systems
IEEE Transactions on Systems, Man, and Cybernetics, Part B: Cybernetics
Fuzzy approaches to the game of Chicken
IEEE Transactions on Fuzzy Systems
Automatic fuzzy decision making system with learning for competing and connected businesses
Expert Systems with Applications: An International Journal
Hi-index | 12.05 |
We propose a flexible decision support scheme which could be used in managing the wage negotiation between employers and employees. This scheme uses fuzzy inference systems and game theory concepts in arriving at decisions on future wage increase which could be more mutually agreeable. For example, rather than specifying 5% yearly increase of wages, we propose that the uncertain factors which are mostly difficult to predict and that could affect wage decisions need to be taken into consideration by the wage formula. These include business revenues or (profit), inflation rate, number of competitors, cost of production, and other uncertain factors that may affect business operations. The accuracy of the fuzzy rule base and the game strategies will help to mitigate the adverse effects that a business may suffer from these uncertain factors. Based on our scheme, we propose that employers and employees should calculate their future wage by using a fuzzy rule base and strategies that take into consideration these uncertain variables. The proposed approach is illustrated with a case study and the procedure and methodology may be easily implemented by business organizations in their wage bargaining and decision processes.