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Risk aggregation and stochastic dominance for a class of heavy-tailed distributions

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100  ‎$0‎MAPA20260001647‎$a‎Chen, Yuyu
24510‎$a‎Risk aggregation and stochastic dominance for a class of heavy-tailed distributions‎$c‎Yuyu Chen and Seva Shneer
520  ‎$a‎This paper introduces a new class of heavy-tailed distributions in which any weighted average of independent and identically distributed random variables is stochastically larger than each individual variable. Many common infinite-mean distributionssuch as Pareto, Fréchet, and Burrbelong to this class. The stochastic dominance result also extends to cases with negative dependence or with non-identically distributed variables. In particular, for non-identical distributions, the weighted average stochastically dominates their corresponding mixture distribution
650 4‎$0‎MAPA20250003316‎$a‎Gestión de riesgos
650 4‎$0‎MAPA20080586447‎$a‎Modelo estocástico
650 4‎$0‎MAPA20260001562‎$a‎Riesgos catastróficos
650 4‎$0‎MAPA20080579258‎$a‎Cálculo actuarial
650 4‎$0‎MAPA20080602437‎$a‎Matemática del seguro
650 4‎$0‎MAPA20080592042‎$a‎Modelos matemáticos
7001 ‎$0‎MAPA20260001654‎$a‎Shneer, Seva
7102 ‎$0‎MAPA20100017661‎$a‎International Actuarial Association
7730 ‎$w‎MAP20077000420‎$g‎19/01/2026 Volume 56 Issue 1 - January 2026 , p. 206 - 219‎$x‎0515-0361‎$t‎Astin bulletin‎$d‎Belgium : ASTIN and AFIR Sections of the International Actuarial Association