5 research outputs found
The Discrete Multicriteria Decision Methods And ARSV Model Used To Choice The Best Exchange Rate
No full textThe exchange rate is a variable that economic agents have in consideration. For this reason, in this paper we suggest a decision method to compare several exchange rates. This method is the Promethee Method and it is a Multicriteria Decision Method used to order the preference between returns of the different exchange rates. We have used different statistic criteria to rank these exchange rates. To obtain the pay-off matrix it has been used one econometric model: Autoregressive Stochastic Volatility (ARSV) Model. We have proposed different generalized criteria and their corresponding thresholds. Both are used to evaluate the different exchange rate returns in the decision matrix or the pay-off matrix. These thresholds are suggested according to the obtained results in the decision matrix. Finally, we have obtained the best solution of the problem when all the criteria have the same importance for the decision-maker
Contributions from Spatial Models to Non-Life Insurance Pricing: An Empirical Application to Water Damage Risk.
No full textThis paper explores the application of spatial models to non-life insurance data focused on the multi-risk home insurance branch. In the pricing modelling and rating process, spatial information should be considered by actuaries and insurance managers because frequencies and claim sizes may vary by region and the premium should be different considering this rating variable. In addition, it is relevant to examine the spatial dependence due to the fact that the frequency of claims in neighbouring regions is often expected to be more closely related than those in regions far from each other. In this paper, a comparison between spatial models, such as spatial autoregressive models (SAR), the spatial error model (SEM), and the spatial Durbin model (SDM), and a non-spatial model has been developed. The data used for this analysis are for a home insurance portfolio located in Spain, from which we have selected peril of water coverage.904 K
Improving home insurance ratemaking with geographically weighted poisson regression (GWPR) model: Assessing water damage risk
No full textThis study examines the consideration of spatial heterogeneity in the development of Home Insurance rates, specifcally focusing on water damage throughout Spain. This focus arises from the need to establish a methodology that not only improves ratemaking procedures for water damage but also acknowledges the potential impacts of climate change, allowing diferentiation in the efect of variables such as rainfall depending on the location and frequency of water claims. By using the GWPR model, spatial heterogeneity is taken into account and the ratemaking process is enhanced by identifying spatial clusters related to the frequency of water damage claims. Moreover, an empirical development has been carried out employing a database of home insurance data for water coverage in the Spanish territory. The variables selected in this process are not only associated with weather, but also with characteristics of the policies, housing, and socio-economic conditions of the policyholdersGrant: MICIU/AEI/10.13039/501100011033 and by FEDER, UE (PID2022-136547NB-I00). Dr. Roman Minguez-Salido.Grant: MICIU/AEI. FEDER UE (PID2022-136252NB-I00).
Grant: GRIN (2022-GRIN-34336).
Grant: SBPLY (21/180225/000110
Cultural Tourism, Using A Multicriteria Analysis: Spanish World Heritage Cities
No full textThe city tourism has become a subject of growing interest in tourism research, in a dynamic sector and with a particularly complex behaviour. In this scenario, the management of available information turns out to be difficult. Until now, specialized literature in tourism has been focused on general analysis, but down to a higher level of disaggregation (cities), presents a greater complexity. This paper aims to classify cities declared World Heritage by UNESCO on the basis of information available, by applying a multicriteria decision aid method: The Promethee
