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01-Applied Mathematics & Information Sciences
An International Journal


Volumes > Volume 5 > No. 2


Jensenís difference without probability vectors and actuarial applications

PP: 276-300
Athanasios Sachlas, Takis Papaioannou,
In mathematics and statistics there exist many divergences. One of them, which has a special appeal since it originates from Shannonís entropy (a well known index of diversity) and its concavity property, is Jensenís difference as it was called by Burbea and Rao [9]. Continuing our research on the properties and the use of divergence and information measures in the actuarial field, in the present paper, we investigate the properties of the Jensen difference in the case of non-probability vectors. This appears in actuarial graduation. Jensenís difference without probability vectors is an appropriate divergence if the vectors have equal element totals. We also investigate the use of Jensenís difference in the problem of determining a clientís disability distribution [6].

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