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A New Notion Of Possibilistic Covariance

Author

Listed:
  • IRINA GEORGESCU

    (Department of Economic Cybernetics, Academy of Economic Studies, Piaţa Romana Nr. 6 - R 70167, Bucharest, Oficiul Postal 22, Romania)

  • JANI KINNUNEN

    (Institute for Advanced Management Systems Research, Åbo Akademi University, Jouhakaisenkatu 35 A 4th floor, Turku, 20520, Finland)

Abstract

Possibilistic indicators of fuzzy numbers (expected value, variance, and covariance) are an efficient instrument in the modeling of uncertainty phenomena. Various models of uncertainty phenomena have led to several notions of variance and covariance. In particular, the possibilistic models of risk aversion previously studied by one of the authors imposed a notion of variance of a fuzzy number different from those existing in the literature. In this paper, a new notion of covariance of two fuzzy numbers corresponding to the possibilistic variance mentioned is studied. This possibilistic covariance can be used, e.g. in models of possibilistic risk aversion with many parameters.

Suggested Citation

  • Irina Georgescu & Jani Kinnunen, 2013. "A New Notion Of Possibilistic Covariance," New Mathematics and Natural Computation (NMNC), World Scientific Publishing Co. Pte. Ltd., vol. 9(01), pages 1-11.
    • Handle: RePEc:wsi:nmncxx:v:09:y:2013:i:01:n:s1793005713500014
    DOI: 10.1142/S1793005713500014
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