Avanzi, Benjamin; Wong, Bernard - In: Insurance: Mathematics and Economics 51 (2012) 2, pp. 229-238
In actuarial risk theory, the introduction of dividend pay-outs in surplus models goes back to de Finetti (1957). Dividend strategies that can be found in the literature often yield pay-out patterns that are inconsistent with actual practice. One issue is the high variability of the dividend...
