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Imprecise stochastic orders and fuzzy rankings

Author

Listed:
  • Ignacio Montes

    (Carlos III University)

  • Enrique Miranda

    (University of Oviedo)

  • Susana Montes

    (University of Oviedo)

Abstract

We extend the notion of stochastic order to the pairwise comparison of fuzzy random variables. We consider expected utility, stochastic dominance and statistical preference, which are related to the comparisons of the expectations, distribution functions and medians of the underlying variables, and discuss how to generalize these notions to the fuzzy case, when an epistemic interpretation is given to the fuzzy random variables. In passing, we investigate to which extent the earlier extensions of stochastic dominance and expected utility to the comparison of sets of random variables can be useful as fuzzy rankings.

Suggested Citation

  • Ignacio Montes & Enrique Miranda & Susana Montes, 2017. "Imprecise stochastic orders and fuzzy rankings," Fuzzy Optimization and Decision Making, Springer, vol. 16(3), pages 297-327, September.
    • Handle: RePEc:spr:fuzodm:v:16:y:2017:i:3:d:10.1007_s10700-016-9251-y
    DOI: 10.1007/s10700-016-9251-y
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    References listed on IDEAS

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    1. Merigó, José M. & Casanovas, Montserrat & Yang, Jian-Bo, 2014. "Group decision making with expertons and uncertain generalized probabilistic weighted aggregation operators," European Journal of Operational Research, Elsevier, vol. 235(1), pages 215-224.
    2. Montes, Ignacio & Miranda, Enrique & Montes, Susana, 2014. "Decision making with imprecise probabilities and utilities by means of statistical preference and stochastic dominance," European Journal of Operational Research, Elsevier, vol. 234(1), pages 209-220.
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