This book deals with the important economic problem of uncertainty. The first attempt was to simplify and unify some results usually taught in courses in mathematical economics. The economic interpretation of the results was representations of preferences as sums or integrals and the...

This paper considers a Sparre Andersen model in which the inter-claim times have a phase-type distribution and the premium rate is a step function depending on the current surplus level. We derive the system of piecewise integro-differential equations for the Gerber-Shiu discounted penalty...