Using Choquet integral in economics |
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Authors: | Stanislaw Heilpern |
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Institution: | (1) Department of Economics, University of Wroclaw, Wroclaw, Poland, PL |
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Abstract: | This paper is devoted to application of the Choquet integral with respect to the monotone set functions in economics. We
present the application in decision making, finance, insurance, social welfare and quality of life. The Choquet integral is
used as the numerical representation of preference relation in decision making, as the “expected value” of future price in
financial decision problems, as the insurance premium and as the social evaluation function.
Received: March 2000; revised version: August 2001 |
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Keywords: | |
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