soft computing

Researching Decision-Making under Uncertainty

134-LUT-autumn-2015

About

We are a team of researchers based at LUT University, Lappeenranta, Finland. Our areas of expertise include multi-criteria decision-making, investment and real options analysis, system dynamics, and fuzzy set theory. We work both theory and applications. Application contexts include renewable energy (regulation and profitability), energy regulation models (electricity transfer), mining investments (profitability, portfolio analysis, modeling), healthcare analytics, predictive industrial maintenance, manufacturing 4.0 (business models, analytics support for manufacturing, profitability), and economic behavior (experimental finance, investor behavior, choice under uncertainty). The group is the strongest group in Finland on real option analysis and in fuzzy logic.

People

Mikael Collan

D.Sc. (Econ&BA)

Director General at VATT Institute for Economic Research

Professor, School of Business and Management, LUT University, Lappeenranta, Finland

Pasi Luukka

D.Sc. (Tech.)

Professor, School of Business and Management, LUT University, Lappeenranta, Finland

Jan Stoklasa

D.Sc. (Tech.)

Research fellow, LUT University, Lappeenranta, Finland

Assistant professor, Palacký University in Olomouc, Czech Republic

Azzurra

Azzurra Morreale

D.Sc. (Econ&BA)

Post-doctoral researcher, School of Business and Management, LUT University, Lappeenranta, Finland

Mariia Kozlova

D.Sc. (Econ&BA)

Post-Doctoral researcher, School of Business and Management, LUT University, Lappeenranta, Finland

Jyrki Savolainen

D.Sc. (Econ&BA)

Post-Doctoral researcher, School of Business and Management, LUT University, Lappeenranta, Finland

Christoph Lohrmann

PhD in Computational Engineering

Post-Doctoral researcher, School of Business and Management, LUT University, Lappeenranta, Finland

Analyst, Osiris Asset Management AG

Alena Lohrmann

D.Sc. student (Econ&BA)

Junior researcher, School of Business and Management, LUT University, Lappeenranta, Finland

Mahinda Mailagaha Kumbure

PhD student, LUT University, Lappeenranta, Finland

Current Projects

3Dprinting

MFG 4.0

Manufacturing 4.0

Strategies for technological, economic, educational and social policy adoption.

Term 2018-2023

Financed by Academy of Finland

Project website

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In search for sustainable support systems for renewable energy (SUSY)

The main objective of this research project is methodology development for tailoring renewable energy support mechanisms making them efficient and sustainable.

Term 2020-2024

Financed by Foundation for Economic Education (2020, 2021)

Featured Publications

978 3 030 46103 4

Technical, Economic and Societal Effects of Manufacturing 4.0

Automation, Adaption and Manufacturing in Finland and Beyond

 

Editors Mikael Collan and Karl-Erik Michelsen

Open access book available here

Animation

Kozlova, M., Collan, M. and Luukka, P., 2016. Simulation decomposition: New approach for better simulation analysis of multi-variable investment projects. Fuzzy Economic Review, 21, 2, p.3.

The article is available here

Additional material:

matlab function for simulation decomposition

simple example for decomposition

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Collan, M., 2012, The Pay-Off Method: Re-Inventing Investment Analysis: With numerical application examples from different industries, CreateSpace Inc., Charleston

The book is available on Amazon