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Senin, 06 Juli 2009

Jacques Janssen, Raimondo Manca, "Semi-Markov Risk Models for Finance, Insurance and Reliability"

Jacques Janssen, Raimondo Manca, "Semi-Markov Risk Models for Finance, Insurance and Reliability"
Springer | ISBN / ASIN:0387707298 | 2007 | 430 pages | PDF | 3.3MB
This book presents applications of semi-Markov processes in finance, insurance and reliability, using real-life problems as examples. After a presentation of the main probabilistic tools necessary for understanding of the book, the authors show how to apply semi-Markov processes in finance, starting from the axiomatic definition and continuing eventually to the most advanced financial tools, particularly in insurance and in risk-and-ruin theories. Also considered are reliability problems that interact with credit risk theory in finance. The unique approach of this book is to solve finance and insurance problems with semi-Markov models in a complete way and furthermore present real-life applications of semi-Markov processes.


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