1,721,235 research outputs found
On equilibrium efficiency in non-life insurance market.
No full textThe paper investigates the dynamics of equilibrium efficiency in the non-life insurance market, emphasizing the role of cooperation in shaping premium formation. The premium is influenced by two key factors: the external effect of competitors premium and policyholders’ behavior: latter can react to a change in premium by choosing another insurance contract. Regulators can analyze insurers’ behavior – whether it is competitive or collusive– by observing their adjustments to premiums in response to regulatory constraints. This behavior reveals the underlying strategies insurers adopt to balance profitability and market dynamics. In details, the study adopts the standard model, in which insurers choose the premium price in order to maximize the expected profit. The competition case is analysis by Taylor (1986) and (1987), Polborn (1998), and Dutang et al. (2013), here we propose a concept of collusive solution, which is a refinement of Pareto optimal allocation
Numerical methods for the time of ruin
No full textIn this paper we study the distribution of the time to ruin in the classical risk model. We employ the Gram-Charlier and Edgeworth series to approximate this distribution. We prove, by using numerical calculation methods, that the Edgeworth approximation gives better results. We also examine asymptotic behaviour of the moments of the time to ruin
On matrix exponential distribution in risk theory
No full textIn this paper, a particular class of matrix-exponential distributions is described, also with respect to its use in risk theory, namely phase-type distributions. Phase-type distributions have the important advantage of being suitable for approximating most of other distributions as well as being mathematically tractable.
After a review on phase-type distributions and their properties, a possible use in risk theory is illustrated. Modelling both interarrival claim times and individual claim sizes with this class of distributions an explicit formula for the probability of ultimate ruin is given
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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