Statistical Tools in Finance and Insurance presents ready-to-use solutions, theoretical developments and method construction for many practical problems in quantitative finance and insurance. Written by practitioners and leading academics in the field of quantitative finance and insurance, this...

"Preface Financial and actuarial modeling is an ever-changing field with an increased reliance on statistical techniques. This is seen in the changing of competency exams, especially at the upper levels, where topics include more statistical concepts and techniques. In the years since the first...

1. Introduction -- 2. Bayesian Statistical Analysis -- 3. Computational Aspects of Bayesian Analysis -- 4. Prediction with Parameter Uncertainty -- 5. The Credibility Problem -- 6. The Hierarchical Bayesian Approach -- 7. The Hierarchical Normal Linear Model -- 8. Examples -- 9. Modifications to...