Fuzzy random variables Shapiro, Arnold F.

User activity

Share to:
View the summary of this work
Shapiro, Arnold F.
Appears In
Insurance: Mathematics & Economics
Insurance; Analysis; Mathematics
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.insmatheco.2008.05.008 Byline: Arnold F. Shapiro Abstract: There are two important sources of uncertainty: randomness and fuzziness. Randomness models the stochastic variability of all possible outcomes of a situation, and fuzziness relates to the unsharp boundaries of the parameters of the model. In this sense, randomness is largely an instrument of a normative analysis that focuses on the future, while fuzziness is more an instrument of a descriptive analysis reflecting the past and its implications. Clearly, randomness and fuzziness are complementary, and so a natural question is how fuzzy variables could interact with the type of random variables found in actuarial science. This article focuses on one important dimension of this issue, fuzzy random variables (FRVs). The goal is to introduce IME readers to FRVs and to illustrate how naturally compatible and complementary randomness and fuzziness are. Author Affiliation: Smeal College of Business, Penn State University, 359 Business Building, University Park, PA 16802, USA Article History: Received 2 November 2007; Revised 29 April 2008; Accepted 7 May 2008
Work ID

2 editions of this work

Find a specific edition
Thumbnail [View as table] [View as grid] Title, Author, Edition Date Language Format Libraries

User activity

e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this work

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this work

Add a comment

Show comments and reviews from Amazon users