On a new system of fractional delay differential equations coupled with fuzzy variational inequalities

Abstract

Fuzzy variational inequalities (FVIs) are modeling tools used to characterize a variety of fuzzy decision making problems arising in mathematical optimization, control theory, operations research, and game theory. Fractional order delay differential equations are also finding applications in all disciplines including chemistry, physics, and finance. The aim of this paper is to introduce and study a new dynamical fuzzy system, named the fractional differential fuzzy variational inequality (FDFVI) with delay, which bridges these two areas of research and broadens the class of problems amenable to be studied under the fuzzy environments. By using the KKM theorem and monotonicity arguments, we show that the solution set of the FVI is nonempty, convex and compact. We also establish the upper semicontinuity of the solution mapping U of the FVI involved in the FDFVI with delay. Moreover, we obtain an existence of the mild solution for the FDFVI with delay by employing Bohnenblust-Karlin's fixed point theorem. In addition, we provide an approximating algorithm to find a solution of the FDFVI with delay. Finally, we give two numerical examples to illustrate our main results.