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Means and their applications. (English) Zbl 1043.91015
Summary: 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.

MSC:
62A01 Foundations and philosophical topics in statistics
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