Modelling random fuzzy renewal reward processes

Abstract

This short paper discusses the modeling of random fuzzy renewal reward processes in which the interarrival times and rewards are represented by nonnegative random fuzzy variables. Based on random fuzzy theory, a random fuzzy variable denotes a measurable function from a credibility space to a collection of random variables. Under this setting, the long-run expected reward per unit time is addressed and the theorem on random fuzzy renewal rewards is established. The utility of this research is demonstrated with a realistic application case