Title :
Fuzzy Estimation and Hierarchy of Future Regional Impact on Overall Heating
Author :
Gherasim, Ovidiu ; Dornescu, Ioana ; Tacu, Georgiana
Author_Institution :
Romanian Acad., Iasi, Romania
Abstract :
In the course of history human society has known various forms of commercial transactions which diversified as typology and complexity. At present a new type of exchange is emerging in the world - the environment exchange, i.e. transactions with licences for carbon emissions, bonds for natural calamities, bonds for drought, products as negotiable climatic derivates, and specific insurance policies, using spot buying-and-selling contracts, options, futures and hedging. The new financial market is the consequence of the process of world heating, which apart from important climatic changes and anxiety regarding quality of life has entailed a new division of labour. For this market new types of indicators are needed in order to measure the effects, to evaluate the trends, to make and evaluate predictions. The design of these financial indicators implies econometric calculations under risk and uncertainty and for this reason in the present article modelling fuzzy methods are proposed.
Keywords :
climate mitigation; econometrics; economic indicators; fuzzy set theory; global warming; stock markets; carbon emission; drought bond; econometric calculation; environment exchange; financial indicators; financial market; fuzzy estimation; fuzzy method; global warnming; insurance policy; natural calamities; negotiable climatic derivates; spot buying-and-selling contracts; world heating; Australia; Carbon dioxide; Econometrics; Economic indicators; Environmental economics; Extraterrestrial measurements; Geophysical measurements; Heating; Macroeconomics; Uncertainty;
Conference_Titel :
Computational Intelligence for Modelling Control & Automation, 2008 International Conference on
Conference_Location :
Vienna
Print_ISBN :
978-0-7695-3514-2
DOI :
10.1109/CIMCA.2008.230