<i>Stochastic Processes for Insurance and Finance</i> offers a thorough yet accessible reference for researchers and practitioners of insurance mathematics. Building on recent and rapid developments in applied probability, the authors describe in general terms models based on Markov processes, martingales and various types of point processes. <p> Discussing frequently asked insurance questions, the authors present a coherent overview of the subject and specifically address: <ul> <li>The principal concepts from insurance and finance <li>Practical examples with real life data <li>Numerical and algorithmic procedures essential for modern insurance practices </ul> <p> Assuming competence in probability calculus, this book will provide a fairly rigorous treatment of insurance risk theory recommended for researchers and students interested in applied probability as well as practitioners of actuarial sciences. <p> <b>Wiley Series in Probability and Statistics</b>
..."an excellent text..."
-- Australian & New Zealand Journal of Statistics
Table of Contents:
Concepts from Insurance and Finance.
Premiums and Ordering of Risks.
Distributions of Aggregate Claim Amount.
Renewal Processes and Random Walks.
Continuous-Time Markov Models.
Martingale Techniques I.
Martingale Techniques II.
Piecewise Deterministic Markov Processes.
Series: Wiley Series in Probability and Statistics
Number Of Pages: 680
Published: 12th March 1999
Country of Publication: GB
Dimensions (cm): 23.1 x 15.75
Weight (kg): 1.15
Edition Number: 1