UNIVERSITY OF CALIFORNIA, BERKELEY
SANTA BARBARA • SANTA CRUZ
BERKELEY • DAVIS • IRVINE • LOS ANGELES • RIVERSIDE • SAN DIEGO • SAN FRANCISCO
College of Engineering BERKELEY, CALIFORNIA 94720
Electrical Engineering and Computer Science Department
Computer Science Division
387 Soda Hall #1776
May 24, 2004
Dr. Alexey Nedosekin
Senior Consultant, Doctor of Economics
Siemens Business Services Russia
18, 11 line VO, Saint-Petersburg
Dear Dr. Nedosekin:
It is a source of deep regret for me to be unable to participate in your Conference. My problem is that I am scheduled to return from Japan on June 15 and leave for Canada on June 21.
Following is the text of a brief greeting to participants in your conference.
Greetings to Participants in the Conference on Fuzzy Sets and Soft Computing in Economics and Finance.
I deeply regret my inability, due to a scheduling conflict, to participate in FSSCEF 2004. I have no doubt that FSSCEF 2004, held in the handsome city of St. Petersburg, will be an important event, providing the participants with opportunity to exchange views and ideas relating to application of fuzzy logic and soft computing in the realms of economics and finance.
In my view, it is inevitable that applications of fuzzy logic and soft computing to economics and finance will grow in visibility and importance in the years ahead. The reason is that traditional, bivalent-logic-based approaches, are not a good fit to reality—the reality of pervasive imprecision, uncertainty and partiality of truth. The centrepiece of bivalent logic is the principle of the excluded middle: truth is bivalent, meaning that every proposition is either true or false, with no shades of truth allowed. By contrast, in fuzzy logic everything is, or is allowed to be, a matter of degree. It is this characteristic of fuzzy logic that makes it a much better fit to reality than bivalent logic. In particular, it is this characteristic of fuzzy logic that makes it possible for fuzzy logic to deal with perception-based information. Such information plays an essential role in economics, finance and, more generally in all domains in which human perceptions and emotions are in evidence.
With warmest regards to all,
Lotfi A. Zadeh
Professor in the Graduate School
Director, Berkeley Initiative in Soft Computing (BISC)
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