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2024-05-29

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cc-by (c) Figuerola-Wischke, A. et al., 2024
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/221802

Forecasting the real average retirement benefit in the United States using OWA operators

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https://doi.org/10.3846/tede.2024.20763

Abstract

The issue of pensions has become increasingly topical. This paper presents the ordered weighted averaging real average pension (OWARAP) operator. The OWARAP operator is based on the ordered weighted averaging (OWA) operator and calculates the future average retirement benefit taking into account price changes. Moreover, this work extends the OWARAP operator by using order-inducing variables, generalized means, and probabilities. This paper ends by analyzing the applicability of the OWARAP operator and its extensions in forecasting the real average Social Security benefits for retired workers in each state of the United States (U.S.). The results demonstrate the usefulness of the proposed approach in retirement decision making.

Subject

Previsió demogràfica, Previsió econòmica, Teoria d'operadors, Planificació de la jubilació

Subject (English)

Population forecasting, Economic forecasting, Operator theory, Retirement planning

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FIGUEROLA WISCHKE, Anton and GIL LAFUENTE, Anna Maria. Forecasting the real average retirement benefit in the United States using OWA operators. Technological and Economic Development of Economy. 2024. Vol. 30, num. 4, pags. 956-975. ISSN 2029-4913. [consulted: 10 of June of 2026]. Available at: https://hdl.handle.net/2445/221802

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