The Gini-Index as a Measure of the Goodness of Prediction

Martin Riese ()

Bulletin of Economic Research, 1997, vol. 49, issue 2, 127-35

Abstract: Predicting the mean life of a cohort while its survival process is still ongoing requires that the mean residual life at the prediction date be estimated. Under reasonable assumptions about these estimates, it is shown that the mean prediction error over the whole process is intimately related to the Gini-index of lives in the cohort. Copyright 1997 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 1997
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