Shapiro, Arnold F. - In: Insurance: Mathematics and Economics 53 (2013) 3, pp. 864-870
A recent article by de Andrés-Sánchez and Puchades (2012) modeled life annuities as fuzzy random variables (FRVs). Their article was informative. However, it had the limitation that the FRV used to model the life annuity was not a granulated FRV. This followed because the authors assumed that...