Risk Analysis in Finance and Insurance (Chapman and Hall /Crc Monographs and Surveys in Pure and Applied Mathematics) (Hardcover)

~ Alexander Melnikov (Author) "The notion of an asset (anything of value) is one of the fundamental notions in the financial mathematics..." (more)
Key Phrases: minimal hedge, independent identical policies, pure endowment assurance, Risk Analysis, Advanced Analysis of Financial Risks, Foundations of Actuarial Analysis (more...)

Editorial Reviews

Review

Here is a comprehensive and accessible introduction to the ideas, methods and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risk.
-Business Horizons

… a useful addition to a rapidly expanding field.
- Journal of the Royal Statistical Society

… a useful addition to a rapidly expanding field.
- Journal of the Royal Statistical Society

Product Description

Historically, financial and insurance risks were separate subjects most often analyzed using qualitative methods. The development of quantitative methods based on stochastic analysis is an important achievement of modern financial mathematics, one that can naturally be extended and applied in actuarial mathematics. Risk Analysis in Finance and Insurance offers the first comprehensive and accessible introduction to the ideas, methods, and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risks. The author's approach is based on a methodology for estimating the present value of future payments given current financial, insurance, and other information, which leads to proper, practical definitions of the price of a financial contract, the premium for an insurance policy, and the reserve of an insurance company.Self-contained and full of exercises and worked examples, Risk Analysis in Finance and Insurance serves equally well as a text for courses in financial and actuarial mathematics and as a valuable reference for financial analysts and actuaries. Ancillary electronic materials will be available for download from the publisher's Web site.

Product Details

• Hardcover: 272 pages
• Publisher: Chapman & Hall/CRC; 1 edition (September 25, 2003)
• Language: English
• ISBN-10: 1584884290
• ISBN-13: 978-1584884293
• Product Dimensions: 9.7 x 5.9 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: No customer reviews yet. Be the first.
• Amazon.com Sales Rank: #2,271,673 in Books (See Bestsellers in Books)