In:
Pakistan Journal of Statistics and Operation Research, Pakistan Journal of Statistics and Operation Research, ( 2019-09-13), p. 731-744
Abstract:
Actuaries are often in search of nding an adequate loss model in the scenario of actuarial and financial risk management problems. In this work, we propose a new approach to obtain a new class of loss distributions. A special sub-model of the proposed family, called the Weibull-loss model isconsidered in detail. Some mathematical properties are derived and maximum likelihood estimates of the model parameters are obtained. Certain characterizations of the proposed family are also provided. A simulation study is done to evaluate the performance of the maximum likelihood estimators. Finally, an application of the proposed model to the vehicle insurance loss data set is presented.
Type of Medium:
Online Resource
ISSN:
2220-5810
,
1816-2711
DOI:
10.18187/pjsor.v15i3.2995
Language:
Unknown
Publisher:
Pakistan Journal of Statistics and Operation Research
Publication Date:
2019
detail.hit.zdb_id:
2603603-4
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