Part I: Income Taxes, Lottery, and Lion Hunting—Elementary Mathematics -- 1. “We Take over Your VAT!” How Big Is the Actual Discount? -- 2. Millions Every Week, but Not for Me. Six Numbers in the Lottery -- 3. Where Did My Money Go? Loss Compensation After a Price Drop -- 4. How Do You...

Offering a unique balance between applications and calculations, Monte Carlo Methods and Models in Finance and Insurance incorporates the application background of finance and insurance with the theory and applications of Monte Carlo methods. It presents recent methods and algorithms, including...