Abstract
The fundamental principle underlying insurance is that the expected value of claims is equal to the premium. This was established by Bernoulli [4] in 1738. Subsequent work on the development of ‘risk theory’ led to research concerning the probability of ‘ruin’ of an insurance company. A critical study of these investigations was made by Borch [3] in a recent paper.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Reference8 articles.
1. The Optimal Regulation of Dams in Continuous Time
2. CraméR H. (1930) On the mathematical theory of risk. Skandia Jubilee Volume, Stockholm.
3. A diffusion model for the control of a dam
4. Specimen theoriae novae de mensura sorits;Bernoulli;Econometrica,1738
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