The present paper examines the importance and limiteations of insurance in the context of risk management. The state of insurance in India has also been studied along with a detailed analysis in search of the objective of insurance. The need for differentiated offer and customized pricing in...

The global automotive industry, increasingly characterized by global mergers and relocation of production centers to emerging developing economies, is in the grips of a global price-war. The industry is subject to imperfect competition which has resulted in too much of everything — too much...

While discretization of continuous distributions have been attempted for many life distributions the reverse has hardly been attempted. The present endeavor is to establish a reverse relationship by offering a continuous counter part of a discrete distribution namely negative binomial...

The celebrated lack of memory property is a unique property of the exponential distribution in the continuous domain. It is expressed in terms of equality of residual survival function with the survival function of the original distribution. We propose to extend this lack of memory property in...

Using the general relationships amongst probability functions, failure rate function and mean residual life function, common measures used to describe continuous reliability distributions, we present some characterization results for geometric, Waring and negative hypergeometric distributions in...