soft computing
Researching Decision-Making under Uncertainty
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 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
MFG 4.0
Manufacturing 4.0
Strategies for technological, economic, educational and social policy adoption.
Term 2018-2023
Financed by Academy of Finland
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
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
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.
Additional material:
Collan, M., 2012, The Pay-Off Method: Re-Inventing Investment Analysis: With numerical application examples from different industries, CreateSpace Inc., Charleston