I find fuzzy and stochastic is being used inter-changeably for uncertainty in literature. Stochastic LP model is being referred as LP under uncertainty. Fuzzy AHP is being referred as MCDM model under uncertainty. But the approach to solutions are different. Can we have Fuzzy Stochastic Model such as Fuzzy TOPSIS where ratings are done in linguistic terms to which FTN values assigned but ratings by group of decision makers are random and have variance. Can we apply stochastic modeling as done in Stochastic LP model ? I have come across Fuzzy MCDM models like Fuzzy AHP, Fuzzy TOPSIS etc. Can we have Stochastic AHP, Stochastic TOPSIS, Fuzzy Stochastic TOPSIS ?
Stochastic programs (SP for short) are very well-defined as a study object, and include stochastic programs with several versions of recourse structures, in order to represent varieties on decisions made over a set of successive stages. Portfolio optimization of a lot of varieties are included therein - bot not only concerning economics, but a large variety of problem settings. SP has a rather long history, and hundreds, if not thousands, of papers on theory and applications have been published, as well as scholarly written textbooks. One can say that the subject is quite mature by now.
The status of fuzzy models of uncertainty is not something I have come across often, so someone else needs to comment on that.
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