Modelling of Low Probability High Impact Events

Michal Majka

ISBN 10: 6202221925 / ISBN 13: 9786202221924

Published by AV Akademikerverlag Feb 2019, 2019

About this Item

This item is printed on demand - it takes 3-4 days longer - Neuware -In many real world phenomena the need for modelling of losses caused by an underlying process that generates both large number of occurrences with minor losses and occurrences with severe impact exists. Prominent examples are natural disasters (earthquakes, hurricanes, tornadoes etc.), operational losses in highly regulated institutions or claims generated by an insurance policy. In each case, the aggregated loss distribution can be modelled with a so called compound model that is a combination of two separate distributions describing the number of events and their severities. In the first part of this book in-depth description of the compound model is provided. The formal discussion is then followed by a case study, in which the previously elaborated theory is applied to model yearly losses incurred due to tornadoes in the United States. 88 pp. Englisch. Seller Inventory # 9786202221924

Bibliographic Details

Title: Modelling of Low Probability High Impact ...

Publisher: AV Akademikerverlag Feb 2019

Publication Date: 2019

Binding: Taschenbuch

Condition: Neu