𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Semi-markov risk models for finance, insurance and reliability

✍ Scribed by Jacques Janssen, Raimondo Manca

Book ID
127455461
Publisher
Springer
Year
2007
Tongue
English
Weight
2 MB
Edition
1
Category
Library
City
New York
ISBN
0387707301

No coin nor oath required. For personal study only.

✦ Synopsis

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.

✦ Subjects

Теория надежности

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✍ Nikolaos Limnios, Vlad Stefan Barbu (auth.) 📂 Library 📅 2008 🏛 Springer 🌐 English ⚖ 2 MB

This book is concerned with the estimation of discrete-time semi-Markov and hidden semi-Markov processes. Semi-Markov processes are much more general and better adapted to applications than the Markov ones because sojourn times in any state can be arbitrarily distributed, as opposed to the geometric