Implications of Projecting Future Losses of Earning Capacity with Deterministic Models

Implications of Projecting Future Losses of Earning Capacity with Deterministic Models

The author discusses selected stochastic and deterministic models of income determination, and employs these models to determine lost future earning capacity in hypothetical cases. The examples show that the use of a stochastic rather than a deterministic forecasting methodology can have an importan...

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Veröffentlicht in:The Journal of risk and insurance 1986-09, Vol.53 (3), p.530-537
1. Verfasser: Horvitz, Sigmund A.
Format: Artikel
Sprache:eng
Schlagworte:
Capacity
Communications and Notes
Determinism
Earnings
Earnings forecasting
Economic forecasting
Employment forecasting
Expected values
Forecasting models
Forecasting techniques
Forecasts
Income determination
Losses
Mathematical models
Plaintiffs
Predictions
Probability forecasts
Statistical forecasts
Stochastic models
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Beschreibung
Zusammenfassung:The author discusses selected stochastic and deterministic models of income determination, and employs these models to determine lost future earning capacity in hypothetical cases. The examples show that the use of a stochastic rather than a deterministic forecasting methodology can have an important effect upon the forecast of loss of stochastically generated income.
ISSN:0022-4367
1539-6975
DOI:10.2307/252403