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.
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