The search session has expired. Please query the service again.

The search session has expired. Please query the service again.

Displaying similar documents to “Large losses-probability minimizing approach”

An extended problem to Bertrand's paradox

Mostafa K. Ardakani, Shaun S. Wulff (2014)

Discussiones Mathematicae Probability and Statistics

Similarity:

Bertrand's paradox is a longstanding problem within the classical interpretation of probability theory. The solutions 1/2, 1/3, and 1/4 were proposed using three different approaches to model the problem. In this article, an extended problem, of which Bertrand's paradox is a special case, is proposed and solved. For the special case, it is shown that the corresponding solution is 1/3. Moreover, the reasons of inconsistency are discussed and a proper modeling approach is determined by...

Approximations of the ultimate ruin probability in the classical risk model using the Banach's fixed-point theorem and the continuity of the ruin probability

Jaime Martínez Sánchez, Fernando Baltazar-Larios (2022)

Kybernetika

Similarity:

In this paper, we show two applications of the Banach's Fixed-Point Theorem: first, to approximate the ultimate ruin probability in the classical risk model or Cramér-Lundberg model when claim sizes have some arbitrary continuous distribution and second, we propose an algorithm based in this theorem and some conditions to guarantee the continuity of the ruin probability with respect to the weak metric (Kantorovich). In risk theory literature, there is no methodology based in the Banach's...

Local and regional coherence utility assessment procedures.

Melvin R. Novick, D. F. Dekeyrel, D. T. Chuang (1980)

Trabajos de Estadística e Investigación Operativa

Similarity:

Novick and Lindley (1978, 1979) have dealt with the use of utility functions for applications in education and have advocated the use of the standard gamble (von Neumann and Morgenstern, 1953) elicitation procedure with the addition of coherence checking using overspecification and a least squares fit. In this procedure utilities are inferred from probability judgements offered by the assessor. This paper describes local and regional coherence procedures which seek utility coherence...

Robust inference in probability under vague information.

Giuliana Regoli (1996)

Mathware and Soft Computing

Similarity:

Vague information can be represented as comparison of previsions or comparison of probabilities, and a robust analysis can be done, in order to make inference about some quantity of interest and to measure the imprecision of the answers. In particular, in some decision problems the answer can be unique.

Null events and stochastical independence

Giulianella Colleti, Romano Scozzafava (1998)

Kybernetika

Similarity:

In this paper we point out the lack of the classical definitions of stochastical independence (particularly with respect to events of 0 and 1 probability) and then we propose a definition that agrees with all the classical ones when the probabilities of the relevant events are both different from 0 and 1, but that is able to focus the actual stochastical independence also in these extreme cases. Therefore this definition avoids inconsistencies such as the possibility that an event A ...