Arbitrage-free premium calculation for extreme losses using the shot noise process and the Esscher transform [An article from: Insurance Mathematics and Economics]

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Arbitrage-free premium calculation for extreme losses using the shot noise process and the Esscher transform [An article from: Insurance Mathematics and Economics]
J.W. Jang , and Y. Krvavych
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

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ASIN: B000RQYIRI

Book Description

This digital document is a journal article from Insurance Mathematics and Economics, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

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We consider the classical compound Poisson model of insurance risk, with the additional economic assumption of a positive interest rate. Insurance premiums, that are the present values of the aggregate claims, are priced by enforcing a no-arbitrage condition between the insurance and reinsurance markets. We note a duality result relating the aggregate accumulated claims and the shot noise process and so we apply the piecewise deterministic Markov processes theory. It is assumed that the claim sizes are Loggamma, Frechet and truncated Gumbel to deal with heavy-tail losses in practice. We also use an exponential distribution for the case of non-heavy-tail losses. In order to obtain an arbitrage-free premium, we use an equivalent martingale probability measure obtained via the Esscher transform. In case of Loggamma and Frechet distribution for claim sizes, which allow us to derive the explicit forms for the insurance premium calculations, we find that the arbitrage-free premiums can only be obtained by levying the loading in terms of claim arrival rate, not in terms of claim size measure. It is due to the non-existence of the Laplace transforms of Loggamma and Frechet distribution for claim sizes after changing measure. We find that if claim size follows truncated Gumbel distribution, the security loading can be levied either in terms of claim arrival rate or in terms of claim size measure (or both). However, it is not possible for us to obtain the explicit form for the insurance premium calculation. Using the analytical/explicit forms for four different claim size distributions, we also provide a several numerical examples.

Optimal reinsurance under convex principles of premium calculation [An article from: Insurance Mathematics and Economics]

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Optimal reinsurance under convex principles of premium calculation [An article from: Insurance Mathematics and Economics]
M. Kaluszka
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital
ASIN: B000RR1T9C

Book Description

This digital document is a journal article from Insurance Mathematics and Economics, published by Elsevier in 2005. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
Suppose an insurer wants to have a reinsurance contract minimizing a convex measure of his retained risk or maximizing a utility function. Suppose the reinsurer's premium is fixed. The premium calculation principle of the reinsurer is a convex functional of his cover. Explicit forms of optimal reinsurance contracts are derived for some classes of convex principles including, among others, the exponential, p-mean value, semi-deviation, semi-variance, Dutch and Wang's principles. The paper is a continuation of the work of Kaluszka [Kaluszka, M., 2004. An extension of Arrow's result on optimality of a stop loss contract. Insur.: Math. Econ. 35, 527-536] which deals with mean-variance premium calculation principles.

Premium Calculation in Insurance (NATO Science Series C: (closed))

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Premium Calculation in Insurance (NATO Science Series C: (closed))

Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover

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ASIN: 902771732X

Ready reckoner for earned and unearned premiums: A series of tables designed for the speedy calculation of the sums earned and unearned on policies of ... day enumerator, for the use of accountants

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Ready reckoner for earned and unearned premiums: A series of tables designed for the speedy calculation of the sums earned and unearned on policies of ... day enumerator, for the use of accountants
William Ellsworth
Manufacturer: The Speculator Co
ProductGroup: Book
Binding: Unknown Binding
ASIN: B00087AAQE

The rationale of life assurance premiums: Being three papers read before the Actuarial Society, Edinburgh ; sessions 1859-1960 ; upon the future, calculation, ... required for assurance of a sum at death

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The rationale of life assurance premiums: Being three papers read before the Actuarial Society, Edinburgh ; sessions 1859-1960 ; upon the future, calculation, ... required for assurance of a sum at death
James Meikle
Manufacturer: Printed by R. & R. Clark for the Edinburgh Actuarial Society
ProductGroup: Book
Binding: Unknown Binding

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Safe drinking water counts for nothing. A pollution-free environment counts for nothing. Even some people - namely women - count for nothing. This is the case, at least, according to the United Nations System of National Accounts. Author Marilyn Waring, former New Zealand M.P., now professor, development consultant, writer, and goat farmer, isolates the gender bias that exists in the current system of calculating national wealth.

As Waring observes, in this accounting system women are considered 'non-producers' and as such they cannot expect to gain from the distribution of benefits that flow from production. Issues like nuclear warfare, environmental conservation, and poverty are likewise excluded from the calculation of value in traditional economic theory. As a result, public policy, determined by these same accounting processes, inevitably overlooks the importance of the environment and half the world's population.

Counting for Nothing, originally published in 1988, is a classic feminist analysis of women's place in the world economy brought up to date in this reprinted edition, including a sizeable new introduction by the author. In her new introduction, the author updates information and examples and revisits the original chapters with appropriate commentary. In an accessible and often humorous manner, Waring offers an explanation of the current economic systems of accounting and thoroughly outlines ways to ensure that the significance of the environment and the labour contributions of women receive the recognition they deserve.

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Award-winning storyteller Barbara McBride-Smith breathes life albeit a wizened Texan version into the old Greek myths. With her incurable Texas drawl, she spins the Greek myths as you've never heard them before, rendering them 99% more fun while retaining 100% of their original insights into the crooked ways of the human heart and the no-less crooked ways of the ancient Greek gods.

It's Not Easy Being a Goddess: A Yellow Rose of Texas Tells the Greek Myths in Her Native Tongue

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It's Not Easy Being a Goddess: A Yellow Rose of Texas Tells the Greek Myths in Her Native Tongue
Barbara McBride-Smith
Manufacturer: audible.com
ProductGroup: Book
Binding: Audio Download
ASIN: B000JFQ2MG

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"THE" SOURCE FOR CLASSICAL MUSIC REVIEWS

The 2004/5 supplement to the 2003/4 main guide

Don't buy this if...

Great help when buying classical CDs!!!

Creme de la creme

The Penguin Guide to Compact Discs and DVDs Yearbook 2004/5 (Penguin Guide to Compact Discs and Dvds Yearbook)
Ivan March , Edward Greenfield , and Robert Layton
Manufacturer: Penguin (Non-Classics)
ProductGroup: Book
Binding: Paperback

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The Penguin Guide to Compact Discs and DVDs 2003/4: The Guide to Excellence in Recorded Classical Music (Penguin Guide to Compact Discs and Dvds)

The Penguin Guide to Compact Discs and DVDs 2005/06 Edition: The Key Classical Recordings on CD, DVD and SACD, 30th Anniversary Edition (Penguin Guide to Compact Discs and Dvds)

Gramophone Classical Good CD & DVD Guide 2006 (Classical Good CD and DVD Guide) (Classical Good CD and DVD Guide)

The Penguin Guide to Compact Discs and DVDs: Yearbook (2002/2003)

The Classical Good CD and DVD Guide 2005 (Classical Good CD and DVD Guide)

ASIN: 0140515232
Release Date: 2004-09-28

Book Description

A fully updated edition of the CD guide hailed by the Wall Street Journal as "more valuable than ever to any serious collector of classical music"

Widely regarded as the standard guide to classical music on CD, The Penguin Guide to Compact Discs has been updated to take into account the many hundreds of new and reissued CDs that have appeared in the last three years while also including all the highlights from the back catalog. Arranged by composer, the guide lists the major recordings of each work--from remastered vintage recordings to the latest releases, from the highest-quality offerings to budget releases--with evaluations of interpretation and performance by the authors, as well as assessments of recording accuracy and advice on the best buys for cost and quality. This edition includes coverage of new recording enterprises, such as Philip's "100 Great Pianists" series, CDs issued to tie in with particular musical anniversaries, entries for several significant but previously little-known composers, and detailed coverage of period-instrument performances. With the best of the previous guide now reevaluated in the light of newer releases, this essential reference work is designed to help you select the very best of recorded classical music available today.

* The Penguin Guide to CDs is used to select the most popular classical works in celebrated performances for the Penguin Music Classics CDs. See your hardcover sales representative for details.

Customer Reviews:

"THE" SOURCE FOR CLASSICAL MUSIC REVIEWS.......2006-01-18

This tome is "the essential companion" to the main guide which was published a few years ago. It fills in the gaps and adds some VERY interesting reviews under "other vocal and choral recitals", "other historical reissues", "other instrumental reissues", and especially "other concerts". This book is essential reading for those who collects CDs and DVDs and who listen to recordings on classical music radio stations.

Perhaps some time in a later edition they could have a section that groups all the DVDs together in one place since there is a plethora of superb DVDs of operas, concerts, recitals, etc. being produced and since many of us have home theatre systems an easy to reference guide would be most helpful.

I say this because I recently bought a DVD of Otto Klemperer conducting Beethoven's Ninth symphony in 1964 with the New Philharmonia Orchestra and Chorus and played live at the Henry Wood Hall at the Royal Albert. At times the sound almost sounds stereo and the timpani beats in the second movement are terrifying.

To me, this is one of the best performances I have EVER heard conducted and the restoration of the mono sound and black and white television tape is nothing short of miraculous. AS A BONUS (no less), included is Ernest Ansermet conducting Beethoven's 7th symphony with a French orchestra recorded in 1967! It too is a miracle of restoration.

This reference book is essential for all aficianados of classical music in all its forms and will be well-thumbed and notated when I am through with it.

VERY, VERY HIGHLY RECOMMENDED

Timothy Wingate OTTAWA CANADA

The 2004/5 supplement to the 2003/4 main guide.......2005-09-29

Be sure you know what you are getting here: this is a SUPPLEMENT (736 pages) to the 2003/4 COMPLETE Penguin Guide (1616 pages). The main Penguin Guide lists the TOP-RATED CD RECOMMENDATIONS. This supplement lists additional recommendations (less important and new since last book) and some lesser-rated CD's. Additionally, the "Yearbook" supplement here lists some unique recordings: (1) their favorite COLLECTION/COMPLIATION CD's, (2) the best period performances and (3) extensive DVD offerings/reviews. The next main guide is due out Dec. 2005 (the new 2005/6 edition). Note that some of the old reviews below pertain to previous editions of the Penguin and not this 2005 supplement so keep that in mind as you read them.

Regarding the Penguin Guide in general: There are around three MAJOR classical review guides (having more than one or two "pet" recommendations): The Penguin Guide, Third Ear, and the Gramophone "Good CD Guide." The other ones like the NPR Guide, Rough Guide, Jim Svejda's Guide, All-Music-Guide, and the Omnibus Guide all are quite good in historical information, but list only one or two of their top recommendations and sometimes do not compare those. By far and bar none, the Penguin Guide is the most comprehensive - listing the most and the best available recordings for a given composer and composition. Its reviews are in-depth and fair (but often a bit too polite and non-critical for some readers). Overall then, it very useful and reliable for narrowing the field. It has few gaps in the entire repertoire listings (unlike the others, most notably "Third Ear Guide") and gives detailed and interesting summaries as well as their top picks for building a classical library. But, if you don't really need or want to research so many choices but still want at least the top 2-5 choices, then Gramophone is probably the finest guide and easiest to read with a similar rating system and top-award citings.

If you are a committed classical fan and buy at least 15 CD's a year, then the Penguin Guide is indespensibile. I have around ten different guides I use weekly, and more often then not, it is the Penguin that will help me make the final decision. But, I sure like and enjoy having the other opinions as one guide (and group of opinion) will always be limited in some way. And Penguin doesn't and cannot list EVERY possible recording as many go in and out of print. Also, don't hesitate to buy the 2003 edition USED at a great discount as it will still be fairly useful for a few more years. You can look up what is missing at the latest edition at the library or bookstore then! So, if you do not have any Penguin Guide, it is recommended to wait and get the latest, most complete 2005/6 guide due out by year end (2005). Still confused? Penguin could use a better marketing approach here ...

Don't buy this if..........2004-10-04

you are looking for reviews of the latest releases (that is - released in this century). THIS IS NOT THE LATEST EDITION - there is a newer 2003/4 guide.

Note the publish date - 2002!

This one does list many cds left out of the new guide. So it still IS worth having.

Just don't get fooled, like I was by the synopsis above. THERE ARE NO SACDs or DVD-As listed, Very few cds from this century.

BUYER BEWARE

Great help when buying classical CDs!!!.......2003-09-11

This is, without any doubts the most comprehensive classical CD guide you can buy!

Although I also like, and would recommend, the Gramophone guides, the amount of information contained in the Penguin guide is simply amazing! While the Gramophone guide lists several composers with ample and informative reviews on two or three of the recordings that they consider to be the best choices of a certain work the Penguin guide includes many more recommendations of each work although with much shorter reviews. The amount of composers and works listed and reviewed in this guide is incredible!

I bought this guide almost a year ago (from Amazon.com) and every single CD that I've bought this year, following this guide's recommendations, has proven to be the right choice! You just can't go wrong with the wealth and quality of information that you'll find within this guide's pages!

This is an absolute must for any classical music lover!

Creme de la creme.......2003-05-21

Similar to the potential pitfalls in picking out just the right bottle of wine, finding the "best" recording and performance of a certain opera, symphony, violin concerto, etc., can be a proverbial mine field. However, the expertise rendered in this jewel of a guide makes the shopping experience a happy walk in the park. Don't shop with out it! Trite analogies aside, to address the previous reviewer's frustration (oh, how I sympathize!) in finding a well stocked local classical CD shop-- ...

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This is the first book to offer an overview of the ways in which the sweeping social and economic changes of the modern period have impacted on the education systemy. Drawing on extensive research, it details the ways in which external events shaped schools and universities, and of the part they played in promoting societal modernization. Exploring links between these issues and educational provision, Lowe argues that educational issues' growing political significance is largely explained by the critical part played by the education system in providing stability in contemporary times.

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This book looks at the ways in which the social and economic changes of the modern period have impacted on the education system and the ways schools and universities were moulded by external influences, and thus its effect on modern society.

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Although there are hundreds of schools that teach acting, hardly any address work in front of the camera. You Can Work on Camera provides this much-needed training for actors aspiring to work in a range of media, including television commercials, corporate films, and video communications.

More than just a manual of the technical elements of the craft, this handy guide is written to inspire self-confidence and to reduce the self-consciousness that hinders communication abilities. It provides the help actors need to find jobs, with more than twenty pages of dos, don'ts, advice, and wisdom from the authors and seventeen prominent casting professionals, talent agents, film directors, and producers.

Actors of all persuasions will want to read this book: those working on Broadway as well as nonprofessionals, living anywhere, who want to get into the business either as a new profession or as a part of the job they currently hold.

Customer Reviews:

Good but not as good as the other two.......2005-01-29

After having read volumes I & II, I felt compelled to read volume III in spite of other customer reviews here. Having just finished this one, I'm inclined to agree with the other reviewers - interesting, but not as earth-shattering as the first two. The first half of the book covers, in volume-II style detail, an implementation of T/TCP for BSD; although this is interesting, it's not very practical, since T/TCP never caught on in the real world. The next part of the book covers HTTP & NNTP, but doesn't go into much detail; if you know what HTTP & NTTP are, you probably already know all the material covered in this book. Finally, the book ends by examining the BSD implementation of the Unix domain sockets. This last bit was the most relevant part of the book, but don't even think about trying to read this if you haven't completed volume II (and have it handy - the text refers back to specific pages and diagrams from Volume II). If you've read the other two books (Volume II in particular), you'll want to read this one to round out the experience, but don't expect to be blown away like you were with the others.

Writing software for the web?.......2001-03-16

If you are planning on writing any software for the web, this is one of the books you need. This book covers T/TCP, HTTP, NNTP, and more including UD Protocols and some good info in the appendix.

W. Richard Stevens has never let me down with any of his books, and this one is no diffrent. Its too bad hes not around to write books any more, alot of people will be missing out on great books from a great author.

This is a must have!!

A good book, covering rarely explained protocols........2000-05-30

This book covers a need distinct from the first two volumes - the first two covered the core protocols' internals, while this one covers the application level protocols - a subject hardly covered by any other book.

I've found this book very useful for understanding T/TCP, a subject my teacher did not explain well and was obscure for me.

The NNTP & HTTP cover was useful, especially as I was doing a lab on HTTP, but I must admit that as far as HTTP goes the RFCs were sufficient.

An excellent book supplimenting the first 2!.......1998-11-05

Like the other two volumes, this book is the definite bible if you are interested in HTTP, T/TCP and UDP. As time passes, these protocols will be used more widely and one will see more people interseted in the book. Similar protocols just start to emerge in areas such as wireless....

The sequel to a sequel - doesn't live up to Vol 1 and 2.......1998-03-27

Volume 1 covered the basic - down to the nitty, gritty bits. Volume 2 gave us the source. Volume 3 tells us about T/TCP and HTML. Not more, not less... I devoured the first two volumes - and just browsed the third.

TCP/IP Illustrated, Volume 3: TCP for Transactions, HTTP, NNTP, and the UNIX(R) Domain Protocols

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TCP/IP Illustrated, Volume 3: TCP for Transactions, HTTP, NNTP, and the UNIX(R) Domain Protocols
W. Richard Stevens
Manufacturer: Addison-Wesley Professional
ProductGroup: Book
Binding: Paperback

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