"Bayesian statistics can help to provide unique insights into important issues in many fields. Bayesian statistics is not new, but traditionally it has not been widely taught as it is computationally challenging and there were criticisms surrounding the subjectivity of Bayesian methods. As...

Cover -- Title Page -- Copyright -- Contents -- Preface -- Acknowledgments -- Part I Examples in Discrete Time -- Chapter 1 Borel's Law of Large Numbers -- 1.1 A Protocol for Testing Forecasts -- 1.2 A Game‐Theoretic Generalization of Borel's Theorem -- 1.3 Binary Outcomes -- 1.4 Slackenings...

"In order to make insurance a trade at all, the common premium must be sufficient to compensate the common losses, to pay the expense of management, and to afford such a profit as might have been drawn from an equal capital employed in any common trade. Pricing insurance risk is the last mile of...

Intro -- Title Page -- Copyright page -- Contents -- Preface -- Chapter 1 Introduction -- 1.1 What is Reinsurance? -- 1.2 Why Reinsurance? -- 1.3 Reinsurance Data -- 1.3.1 Case Study I: Motor Liability Data -- 1.3.2 Case Study II: Dutch Fire Insurance Data -- 1.3.3 Case Study III: Austrian Storm...

Cover -- Title Page -- Copyright -- Contents -- Preface -- Chapter 1 Introduction -- 1.1 Statistical Finance -- 1.2 Risk Management -- 1.3 Portfolio Management -- 1.4 Pricing of Securities -- Part I Statistical Finance -- Chapter 2 Financial Instruments -- 2.1 Stocks -- 2.1.1 Stock Indexes --...