Principal Applications of Bayesian Methods in Actuarial Science: A Perspective

Udi E. Makov

doi:10.1080/10920277.2001.10596011

Principal Applications of Bayesian Methods in Actuarial Science: A Perspective

Udi E. Makov

Department of Statistics

Research output: Contribution to journal › Article › peer-review

Abstract

Bayesian ideas were introduced into actuarial science in the late 1960s in the form of empirical credibility methods for premium setting. The advance of the Bayesian methodology was slow due to its subjective nature and to the computational difficulties associated with the full Bayesian analysis. This paper offers a brief survey of Bayesian solutions to some actuarial problems and discusses the current state of research.

Original language	English
Pages (from-to)	53-57
Number of pages	5
Journal	North American Actuarial Journal
Volume	5
Issue number	4
DOIs	https://doi.org/10.1080/10920277.2001.10596011
State	Published - 1 Oct 2001

ASJC Scopus subject areas

Statistics and Probability
Economics and Econometrics
Statistics, Probability and Uncertainty

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10.1080/10920277.2001.10596011

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abstract = "Bayesian ideas were introduced into actuarial science in the late 1960s in the form of empirical credibility methods for premium setting. The advance of the Bayesian methodology was slow due to its subjective nature and to the computational difficulties associated with the full Bayesian analysis. This paper offers a brief survey of Bayesian solutions to some actuarial problems and discusses the current state of research.",

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Principal Applications of Bayesian Methods in Actuarial Science: A Perspective

Abstract

ASJC Scopus subject areas

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