Means and their applications

Stanisława Ostasiewicz and Walenty Ostasiewicz

Annals of Operations Research, 2000, vol. 97, issue 1, 337-355

Abstract: General considerations about means and expectations are preceded by a short historical overview. The existing approaches to the definition of means are classified into three groups: approximational, functional, and axiomatic. In some particular cases all of them are equivalent. The problem of meaningfulness of means is discussed for ordinal data and for some important cases of metric data. A survey of the main areas of applications: decision theory, group decision, insurance, economical equity and inequality is also provided. Copyright Kluwer Academic Publishers 2000

Keywords: mean; average; expectation; meaningfulness; poverty; inequality (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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DOI: 10.1023/A:1018932425645

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