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Stochastic Processes for Insurance and Finance

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Product Description

Stochastic Processes for Insurance and Finance offers a thorough yet accessible reference for researchers and practitioners of insurance mathematics. Building on recent and rapid developments in applied probability, the authors describe in general terms models based on Markov processes, martingales and various types of point processes. Discussing frequently asked insurance questions, the authors present a coherent overview of the subject and specifically address: · The principal concepts from insurance and finance · Practical examples with real life data · Numerical and algorithmic procedures essential for modern insurance practices Assuming competence in probability calculus, this book wil…