9780521830485

Computation and Modelling in Insurance and Finance

  • ISBN 13:

    9780521830485

  • ISBN 10:

    0521830486

  • Format: Hardcover
  • Copyright: 05/26/2014
  • Publisher: Cambridge University Press

Note: Not guaranteed to come with supplemental materials (access cards, study guides, lab manuals, CDs, etc.)

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Summary

The aim of this book is to introduce the basic skills for the application of actuarial methods in the computer age. Specifically, basic stochastic modeling (including finance and investment), problem solving through simulation, and how simulation techniques are implemented. This includes simple modifications for dealing with related (but different) problems, and combining programs for the description of complex processes. En route, the author describes the genesis and interpretation of the underlying models, how they are fitted to historical data, and how they are simulated. The book assumes only basic background in calculus, linear algebraic and probability, as well as some programming skills, so it will appeal to students of actuarial science, as well as to others interested in learning how modern computing power can be utilized for analysing risk in insurance and finance.

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