Bayesian Estimation of Event Probability in Accident Insurance

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F14%3A39898767" target="_blank" >RIV/00216275:25410/14:39898767 - isvavai.cz</a>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Bayesian Estimation of Event Probability in Accident Insurance

Popis výsledku v původním jazyce

The objective of this paper is to present Bayesian estimation of selected binomial proportions in accident insurance. The classical approach to point estimation treats parameters as something fixed but unknown. The essential difference in the Bayesian approach to inference is that parameters are treated as random variables and therefore they have probability distributions. In Bayesian approach to estimation we should always start with a priori distribution for unknown parameter, precise or vague according to the information available. In this paper we have derived an algorithm for such a priori estimation of the binomial probability, which allows Bayesian estimates with less square error compared with classical estimates. In article the suggested algorithm has been applied on the data submitted by the Decree No. 20/2008 to the National Bank of Slovakia from insurance companies giving exposure to the accident risk.

Název v anglickém jazyce

Bayesian Estimation of Event Probability in Accident Insurance

Popis výsledku anglicky

The objective of this paper is to present Bayesian estimation of selected binomial proportions in accident insurance. The classical approach to point estimation treats parameters as something fixed but unknown. The essential difference in the Bayesian approach to inference is that parameters are treated as random variables and therefore they have probability distributions. In Bayesian approach to estimation we should always start with a priori distribution for unknown parameter, precise or vague according to the information available. In this paper we have derived an algorithm for such a priori estimation of the binomial probability, which allows Bayesian estimates with less square error compared with classical estimates. In article the suggested algorithm has been applied on the data submitted by the Decree No. 20/2008 to the National Bank of Slovakia from insurance companies giving exposure to the accident risk.

Druh

D - Stať ve sborníku

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

—

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2014

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 11th International Scientific Conference European Financial Systems 2014

ISBN

978-80-210-7153-7

ISSN

—

e-ISSN

—

Počet stran výsledku

7

Strana od-do

462-468

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Lednice

Datum konání akce

12. 6. 2014

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—