ENGLISH

Semi-markov risk models for finance, insurance and reliability

By Jacques Janssen , Raimondo Manca

Book information

Publisher
Springer
Year
2007
ISBN
0387707298, 9780387707297, 9780387707303, 0387707301
Open Library ID
OL7447802M
Language
english
Format
PDF
Filesize
2 MB (2468463 bytes)
Edition
1
Pages
440\440
Library
Kolxo3
Scanned
yes
Time added
2009-07-20 03:45:11
Машиностроение и материалообработка;Теория надежно

Description

This book presents applications of semi-Markov processes in finance, insurance and reliability, using real-life problems as examples. After a presentation of the main probabilistic tools necessary for understanding of the book, the authors show how to apply semi-Markov processes in finance, starting from the axiomatic definition and continuing eventually to the most advanced financial tools, particularly in insurance and in risk-and-ruin theories. Also considered are reliability problems that interact with credit risk theory in finance. The unique approach of this book is to solve finance and insurance problems with semi-Markov models in a complete way and furthermore present real-life applications of semi-Markov processes.

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