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This book is for actuaries and financial analysts developing their expertise in statistics and who wish to become familiar with concrete examples of predictive modeling.
This very readable book prepares students for professional exams and for real-world actuarial work in life insurance and pensions.
Must-have manual providing detailed solutions to all exercises in the required text for the Society of Actuaries' (SOA) LTAM Exam.
"This is a valuable reference guide for readers interested in gaining a basic understanding of probability theory or its applications in problem solving in the other disciplines." —CHOICE Providing cutting-edge perspectives and real-world insights into the greater utility of probability and its applications, the Handbook of Probability offers an equal balance of theory and direct applications in a non-technical, yet comprehensive, format. Editor Tamás Rudas and the internationally-known contributors present the material in a manner so that researchers of various backgrounds can use the reference either as a primer for understanding basic probability theory or as a more advanced research t...
For a number of years, I have been teaching and doing research in the economics of uncertainty, information, and insurance. Although it is now possible to find textbooks and books of essays on uncertainty and in formation in economics and finance for graduate students and researchers, there is no equivalent material that covers advanced research in insurance. The purpose of this book is to fill this gap in literature. It provides original surveys and essays in the field of insurance economics. The contributions offer basic reference, new material, and teaching supple ments to graduate students and researchers in economics, finance, and insurance. It represents a complement to the book of readings entitled Foundations of Insurance Economics - Readings in Economics and Finance, recently published by the S.S. Huebner Foundation of Insurance Education. In that book, the editors (G. Dionne and S. Harrington) disseminate key papers in the literature and publish an original survey of major contributions in the field.
Balancing rigor and intuition, the new edition of this first course in risk theory has added exercises and expands on contemporary topics.
A one-stop shop for actuaries and risk managers, this handbook covers general solvency and risk management topics as well issues pertaining to the European Solvency II project. It focuses on the valuation of assets and liabilities, the calculation of capital requirement, and the calculation of the standard formula for the Solvency II project. The author describes valuation and investment approaches, explains how to develop models and measure various risks, and presents approaches for calculating minimum capital requirements based on CEIOPS final advice. Updates on solvency projects and issues are available at www.SolvencyII.nu
This book is a broad and deep inquiry into how contingency fees distort our civil justice system, influence our political system and endanger democratic governance. Contingency fees are the way personal injury lawyers finance access to the courts for those wrongfully injured. Although the public senses that lawyers manipulate the justice system to serve their own ends, few are aware of the high costs that come with contingency fees. This book sets out to change that, providing a window into the seamy underworld of contingency fees that the bar and the courts not only tolerate but even protect and nurture. Contrary to a broad academic consensus, the book argues that the financial incentives for lawyers to litigate are so inordinately high that they perversely impact our civil justice system and impose other unconscionable costs. It thus presents the intellectual architecture that underpins all tort reform efforts.
Since the late 1980s, a large number of very user-friendly tools for fuzzy control, fuzzy expert systems, and fuzzy data analysis have emerged. This has changed the character of this area and started the area of `fuzzy technology'. The next large step in the development occurred in 1992 when almost independently in Europe, Japan and the USA, the three areas of fuzzy technology, artificial neural nets and genetic algorithms joined forces under the title of `computational intelligence' or `soft computing'. The synergies which were possible between these three areas have been exploited very successfully. Practical Applications of Fuzzy Sets focuses on model and real applications of fuzzy sets, and is structured into four major parts: engineering and natural sciences; medicine; management; and behavioral, cognitive and social sciences. This book will be useful for practitioners of fuzzy technology, scientists and students who are looking for applications of their models and methods, for topics of their theses, and even for venture capitalists who look for attractive possibilities for investments.
Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and ins...