Fuzzy lower partial moment and Mean-risk Dominance: An application for poverty Measurement

Christian Deffo Tassak, Louis Aimé Fono () and Jules Sadefo-Kamdem
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Christian Deffo Tassak: UY1 - Université de Yaoundé I
Louis Aimé Fono: Université de Douala
Jules Sadefo-Kamdem: LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier, UG - Université de Guyane, MRE - Montpellier Recherche en Economie - UM - Université de Montpellier
Authors registered in the RePEc Author Service: Jules SADEFO KAMDEM

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Abstract: A more general concept of risk in economics consists on the chance of getting an income or a return less than a threshold one. Risk has been studied and generalized more earlier by Fishburn [8] through Mean Partial Lower Moment specially when income can be described by a random variable. In this paper, we present a new concept of partial moment, namely Fuzzy Lower Partial Moment (FLPM) based on credibility measure, to quantify risk of getting a return described by a fuzzy variable and we study its properties. Based on FLPM, we introduce mean risk dominance for fuzzy variables, we characterize the dominance for some specific cases and we determine some of its properties. Furthermore, we study the consistency of mean-risk models with respect to first and second order dominances. We display one application of FLPM by introducing a new poverty index for poverty measurement in the context of fuzzy environment and we examine some of its properties.

Keywords: Credibility measure; Fuzzy variable; Fuzzy lower partial mo-ment; Mean-Risk dominance; Poverty index (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-rmg
Note: View the original document on HAL open archive server: https://hal.umontpellier.fr/hal-02433422v1
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Published in [Research Report] WP MRE 2019.6, MRE - Montpellier Recherche en Economie. 2019

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