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Theory of Expected Utility and Ordering of Risks
Author: GuoChunYan
Tutor: ChengShiXue
School: Hebei Normal
Course: Applied Mathematics
Keywords: Expected utility Stop Loss Order Repulsion risk
CLC: O223
Type: Master's thesis
Year: 2004
Downloads: 364
Quote: 1
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Abstract
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The concept of effective ways of expected utility theory is the uncertainty of the risk of making a choice in this history of the development of the theory of the last three centuries after briefly , the first of risk aversion , certainty equivalent and risk premiums based on expected utility theory economics to explain , and so analysis of the feasibility of a policy condition which describes the expected utility theory an extraordinary application instance in the insurance business . Subsequently, the focus in the context of Actuarial Science , depth and comprehensive introduction to the sort of assumption of risk based on expected utility theory . The main theory and order stop loss order defined with the corresponding characteristics portrayed ; Jane contracting these random order distribution function cross -type conditions . Finally, this paper introduces the concept of a Fréchet space with Fréchet sector , and a more in-depth discussion of a class of extreme dependency risk , that repulsion risk . In particular, the first order Stop Loss Order as a transitional Fréchet space repulsion risk portfolio stop loss reinsurance premiums to a minimum . This paper is a review of the paper , under the framework of the expected utility hypothesis , summed up the recent actuarial science , many of the cutting - edge research on risk research . Theoretical research in this direction in the country is still relatively weak , this paper aims to pave the way for some of the theoretical research in this direction . In addition, the amendment and supplement of some of the inadequacies of the current research literature , also for the first time explicitly put forward the concept of infinite order stop loss order , and gives two simple characterizations of this random sequence .
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CLC: > Mathematical sciences and chemical > Mathematics > Operations Research > An integrated approach
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