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Liang Hong : Contingent means in multi-life models

Posted by Jie Yang , part of the Statistics and Data Science Seminar.

At
April 18, 2012, 4 p.m.
In
SEO 636
Abstract
Contingent Means are ubiquitous in modern finance and actuarial science. However, Standard textbooks on actuarial science or statistics do not elaborate on the correct interpretation of contingent means, leaving the actuaries at risk of making a blunder. In this talk, we will give the correct interpretation of contingent means both heuristically and theoretically so that one will be aware of some common misconceptions and avoid pitfalls in their work. We will also discuss the applications of contingent means in insurance and quantitative finance.