whioh the developments are appropriate in an elementary text book
is open to doubt. Fortunately the proceedings of the conference
arranged by the Society of Actuaries Research Committee in
September 1974 provide an effective review of the ourrent position
(Credibility, Theory and Applications, Ed. P. M. Kahn, Academic
Press, 1975). It is doubtful if any practical use is now made of
the Esscher approximation and the N-P method is much more
convenient and of adequate accuracy in most practical work. Thus
the first half of Chapter 6 is now largely of historical interest.
Chapter 11 dealing with ruin probability during a finite time
interval does not give an adequate view of the current importanoe
of this topic but the position is fluid because of the considerable
effort being expended in the search for practical methods of calcu
lation. Formulae are, in general, complicated and involve extensive
computer based quadratures or simulation techniques. The paper by
Seal in the Scandinavian Actuarial Journal (The Numerical
Calculation of U(w, t) the Probability of Non-ruin in an Interval
(O, t) 1974) gives a recent treatment and a fairly complete list of
relevant references. In many countries studies are currently in
progress in the develop ment of models for business planning where
the basic operations involve a stochastic process. Not only are
insurance companies interested but in many commercial and
industrial firms the needs are significant so that a very large
field exists for applications."
General
| Imprint: |
Springer
|
| Country of origin: |
Netherlands |
| Series: |
Ettore Majorana International Science Series, 1 |
| Release date: |
November 2013 |
| First published: |
1977 |
| Authors: |
E. Beard
|
| Dimensions: |
216 x 140 x 11mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
195 |
| Edition: |
Softcover reprint of the original 1st ed. 1977 |
| ISBN-13: |
978-9400957831 |
| Categories: |
Books >
Reference & Interdisciplinary >
Interdisciplinary studies >
General
Promotions
|
| LSN: |
9400957831 |
| Barcode: |
9789400957831 |
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