Semi-Markov Risk Models for Finance, Insurance and Reliability

Type

Book

Authors

Jacques Janssen

Raimondo Manca

ISBN 10

0387707298

ISBN 13

9780387707297

Tags

Macroeconomics, Finance, Management Science, Game Theory, Probability & Statistics, Stochastic Modeling, Number Systems, Management, Statistics

Description

Everyone working in related fields from applied mathematicians to statisticians to actuaries and operations researchers will find this a brilliantly useful practical text. The 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. - from Amzon

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