An application of fuzzy rule-based system: to the economic equilibrium considering the shift in demand curve
Chao-Chih Tsai, Ke-Chih Chen · 2002
The application of a fuzzy rule-based system is discussed. The example given is the equilibrium problem in economics. In this case, we have two curves, one between price and supply and the other between price and demand. The demand curve shifts due to the change in average income. We apply the fuzzy rule-based system to calculate the amount of shift in the demand curve. Finally, the equilibrium price can be found.