How to Define a Bonus-Malus System with an Exponential Utility Function
نویسندگان
چکیده
منابع مشابه
Bonus-malus Scales Using Exponential Loss Functions
This paper focuses on techniques for constructing Bonus-Malus systems in third party liability automobile insurance. Specifically, the article presents a practical method for constructing optimal Bonus-Malus scales with reasonable penalties that can be commercially implemented. For this purpose, the symmetry between the overcharges and the undercharges reflected in the usual quadratic loss func...
متن کاملMeasuring sensitivity in a bonus–malus system
In performing Bayesian analysis of a bonus–malus system (BMS) it is normal to choose a parametric structure, π0(λ), in the insurer’s portfolio. According to Bayesian sensitivity analysis the structure function can be modelled by specifying a class Γ of priors instead of a single prior. In this paper, we examine the ranges of the relativities, i.e. δ = E[λπ(λ|data)]/E[λπ(λ)], π ∈ Γ . We illustra...
متن کاملExponential Bonus-malus Systems Integrating a Priori Risk Classification
This paper examines an integrated ratemaking scheme including a priori risk classification and a posteriori experience rating. In order to avoid the high penalties implied by the quadratic loss function, the symmetry between the overcharges and the undercharges is broken by introducing parametric loss functions of exponential type.
متن کاملHow to define ‘Moral Realism’
Moral realism is the doctrine that some propositions asserting that some action is ‘morally’ good (obligatory, bad, or wrong) are true. This paper examines three different definitions of what it is for an action to be ‘morally’ good (with corresponding definitions for ‘morally’ obligatory, bad, or wrong) which would make moral realism a clear and plausible view. The first defines ‘morally good ...
متن کاملBayesian sample size Determination Using a Scaled Exponential Utility Function According to Numerical Method
In this paper we propose a utility function and obtain the Bayese stimate and the optimum sample size under this utility function. This utility function is designed especially to obtain the Bayes estimate when the posterior follows a gamma distribution. We consider a Normal with known mean, a Pareto, an Exponential and a Poisson distribution for an optimum sample size under the propose...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: ASTIN Bulletin
سال: 1979
ISSN: 0515-0361,1783-1350
DOI: 10.1017/s0515036100005900