(eBook PDF) Loss Models: From Data to Decisions 5th Edition – Digital Ebook – Instant Delivery Download
Product details:
- ISBN-10 : 1119523788
- ISBN-13 : 978-1119523789
- AUthor: Stuart A. Klugman, Harry H. Panjer, Gordon E. Willmot
Now in its fifth edition, Loss Models: From Data to Decisions puts the focus on material tested in the Society of Actuaries (SOA) newly revised Exams STAM (Short-Term Actuarial Mathematics) and LTAM (Long-Term Actuarial Mathematics). Updated to reflect these exam changes, this vital resource offers actuaries, and those aspiring to the profession, a practical approach to the concepts and techniques needed to succeed in the profession. The techniques are also valuable for anyone who uses loss data to build models for assessing risks of any kind.
Loss Models contains a wealth of examples that highlight the real-world applications of the concepts presented, and puts the emphasis on calculations and spreadsheet implementation. With a focus on the loss process, the book reviews the essential quantitative techniques such as random variables, basic distributional quantities, and the recursive method, and discusses techniques for classifying and creating distributions. Parametric, non-parametric, and Bayesian estimation methods are thoroughly covered. In addition, the authors offer practical advice for choosing an appropriate model.
Table contents:
1 Modeling 3
2 Random Variables 9
3 Basic Distributional Quantities 21
4 Characteristics of Actuarial Models 51
5 Continuous Models 61
6 Discrete Distributions 81
7 Advanced Discrete Distributions 99
8 Frequency and Severity with Coverage Modifications 125
9 Aggregate Loss Models 147
10 Introduction to Mathematical Statistics 201
11 Maximum Likelihood Estimation 229
12 Frequentist Estimation for Discrete Distributions 255
13 Bayesian Estimation 275
14 Construction of Empirical Models 295
15 Model Selection 353
16 Introduction to Limited Fluctuation Credibility 387
17 Greatest Accuracy Credibility 401
18 Empirical Bayes Parameter Estimation 445
19 Simulation 467
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