Practical Risk Theory for Actuaries
"This classic textbook covers all aspects of risk theory in a practical way. It builds on from the late R.E. Beard's extremely popular book Risk Theory, but features more emphasis on simulation and modeling and on the use of risk theory as a practical tool. Practical Risk Theory is a textbook for practicing and student actuaries on the practical aspects of stochastic modeling of the insurance business. It has its roots in the classical theory of risk but introduces many new elements that are im…
Read More ↓Title Statements
- Full title :Practical Risk Theory for Actuaries / C.D. Daykin, T. Pentikainen, Martti Pesonen.
Summary
"This classic textbook covers all aspects of risk theory in a practical way. It builds on from the late R.E. Beard's extremely popular book Risk Theory, but features more emphasis on simulation and modeling and on the use of risk theory as a practical tool. Practical Risk Theory is a textbook for practicing and student actuaries on the practical aspects of stochastic modeling of the insurance business. It has its roots in the classical theory of risk but introduces many new elements that are important in managing the insurance business but are usually ignored in the classical theory. The authors avoid overcomplicated mathematics and provide an abundance of diagrams."--Provided by publisher.
Read More ↓Edition Statements
- Publication Date:1993.
- Edition:First edition
Publication Statements
- Publisher(s):CRC Press
- Place of Publication:Boca Raton, FL
- Language:eng
- Publication Date:1993.
The Physical Object
- Description:1 online resource : : text file, PDF
Edition Identifiers
- ISBN:9781482289046, 1482289040
- DOI:10.1201/9781482289046
- oclc:on1027749103
- LC Classification:HG8781.D28 1994
- Dewey Decimal:368/.01
Table of Contents
Cover; Half Title; Title Page; Copyright Page; Contents; Preface; Nomenclature; PART ONE FOUNDATIONS OF PRACTICAL RISK THEORY; 1 Some preliminary ideas; 1.1 Cash flow and emerging costs; 1.2 Accounting model; 1.3 Some features of the classical theory; 1.4 Notation and some concepts from probability theory; 2 The number of claims; 2.1 Introduction; 2.2 The Poisson distribution; 2.3 Properties of Poisson variables; 2.4 Mixed Poisson claim number variable; 2.5 The Polya case: negative binomial distribution; 2.6 Variation of risk propensity within the portfolio; 3 The amount of claims
3.1 Compound aggregate claim amount model3.2 Properties of compound distributions; 3.3 The claim size distribution; 3.4 Claims and reinsurance; 4 Calculation of a compound claim d.f. F; 4.1 Recursion formula for F; 4.2 Approximate formulae for F; 5 Simulation; 5.1 Introductory remarks; 5.2 Random numbers; 5.3 Simulation of claim numbers; 5.4 Simulation of compoun dvariables; 5.5 Outlines for simulation of more complex insurance processes; 6 Applications involving short-term claim fluctuation; 6.1 Background to the short-term fluctuation problem; 6.2 Evaluating the capital at risk
6.3 Rules for maximum …
Subjects
Writers
More from this Series
No reviews yet. Be the first to rate this work.
Related Works
more →
Economic modeling and inference
Data analysis and classification: methods and applications
INTRODUCTION TO ECONOPHYSICS: contemporary approaches with python sim…
Requião da Cunha, Carlo
Introduction to econophysics: contemporary approaches with Python sim…
Requião da Cunha, Carlo
Introduction to econophysics: contemporary approaches with Python sim…
Requião da Cunha, Carlo
Introduction to econophysics: contemporary approaches with Python sim…
Cunha, Carlo Requiao da
INTRODUCTION TO ECONOPHYSICS: contemporary approaches with python sim…
Requião da Cunha, Carlo
Economic systems analysis: statistical indicators
Sibirskai︠a︡, E. V., (Elena Viktorovna)
Rate & Review