• Title of article

    Bonus systems in an open portfolio

  • Author/Authors

    de Lourdes Centeno، نويسنده , , Maria and Manuel Andrade e Silva، نويسنده , , Joمo، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2001
  • Pages
    10
  • From page
    341
  • To page
    350
  • Abstract
    In this paper, we study bonus systems in an open portfolio, i.e. we consider that a policyholder can transfer his policy to a different insurance company at any time. We make use of inhomogeneous Markov chains to model the system and show, under reasonable assumptions, that the stationary distribution is independent of the market shares, and is easily calculated.
  • Keywords
    Markov chains , Stationary distribution , Closed model , Bonus systems , Open model
  • Journal title
    Insurance Mathematics and Economics
  • Serial Year
    2001
  • Journal title
    Insurance Mathematics and Economics
  • Record number

    1542390

    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=1542390