Optimal bonus scales under path-dependent bonus rules

Bibliographic Details
Main Author: Centeno, Maria de Lourdes
Publication Date: 2002
Other Authors: Silva, João Andrade e
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/27613
Summary: Bonus malus systems have been studied by several authors under the framework of Markov chains. Optimal scales have been deduced by Norberg (1976), Borgan, Hoem & Norberg (1981) and Gilde & Sundt (1989). In these articles the authors assumed that the bonus system forms a first order Markov chain. In the present paper we deduce the optimal scales, using the same criteria as in the cited papers, for bonus systems that are not first order Markovian processes, but that can be regarded as Markovian by increasing the number of states of the system.
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spelling Optimal bonus scales under path-dependent bonus rulesBonus SystemsMarkov ChainsBonus ScalesBonus malus systems have been studied by several authors under the framework of Markov chains. Optimal scales have been deduced by Norberg (1976), Borgan, Hoem & Norberg (1981) and Gilde & Sundt (1989). In these articles the authors assumed that the bonus system forms a first order Markov chain. In the present paper we deduce the optimal scales, using the same criteria as in the cited papers, for bonus systems that are not first order Markovian processes, but that can be regarded as Markovian by increasing the number of states of the system.Taylor & Francis GroupRepositório da Universidade de LisboaCenteno, Maria de LourdesSilva, João Andrade e2023-04-11T18:04:21Z20022002-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/27613engCenteno, Maria de Lourdes and João Andrade e Silva .(2002). “Optimal bonus scales under path-dependent bonus rules” . Scandinavian Actuarial Journal, Vol. 2: pp. 129-136. (Search PDF in 2023).1651-2030 (Online)10.1080/03461230110106264info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-17T16:20:44Zoai:repositorio.ulisboa.pt:10400.5/27613Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:10:52.214490Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Optimal bonus scales under path-dependent bonus rules
title Optimal bonus scales under path-dependent bonus rules
spellingShingle Optimal bonus scales under path-dependent bonus rules
Centeno, Maria de Lourdes
Bonus Systems
Markov Chains
Bonus Scales
title_short Optimal bonus scales under path-dependent bonus rules
title_full Optimal bonus scales under path-dependent bonus rules
title_fullStr Optimal bonus scales under path-dependent bonus rules
title_full_unstemmed Optimal bonus scales under path-dependent bonus rules
title_sort Optimal bonus scales under path-dependent bonus rules
author Centeno, Maria de Lourdes
author_facet Centeno, Maria de Lourdes
Silva, João Andrade e
author_role author
author2 Silva, João Andrade e
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Centeno, Maria de Lourdes
Silva, João Andrade e
dc.subject.por.fl_str_mv Bonus Systems
Markov Chains
Bonus Scales
topic Bonus Systems
Markov Chains
Bonus Scales
description Bonus malus systems have been studied by several authors under the framework of Markov chains. Optimal scales have been deduced by Norberg (1976), Borgan, Hoem & Norberg (1981) and Gilde & Sundt (1989). In these articles the authors assumed that the bonus system forms a first order Markov chain. In the present paper we deduce the optimal scales, using the same criteria as in the cited papers, for bonus systems that are not first order Markovian processes, but that can be regarded as Markovian by increasing the number of states of the system.
publishDate 2002
dc.date.none.fl_str_mv 2002
2002-01-01T00:00:00Z
2023-04-11T18:04:21Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/27613
url http://hdl.handle.net/10400.5/27613
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Centeno, Maria de Lourdes and João Andrade e Silva .(2002). “Optimal bonus scales under path-dependent bonus rules” . Scandinavian Actuarial Journal, Vol. 2: pp. 129-136. (Search PDF in 2023).
1651-2030 (Online)
10.1080/03461230110106264
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Taylor & Francis Group
publisher.none.fl_str_mv Taylor & Francis Group
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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