ISBN(s): 978-1-62542-905-6 | 978-1-56698-764-6 | 978-1-63588-345-9
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Overview
Credibility modeling is a proven approach for analyzing unique product designs. This text presents a wide variety of credibility models in an easy-to-read style, and in so doing, traces the historical development of the subject. The Bayesian approach to credibility is emphasized.
The text concentrates on basic statistical concepts, leaving both practical issues and more sophisticated theoretical concepts for a more advanced treatment elsewhere. In the rapidly evolving healthcare environment, data credibility is more important than ever. The Fourth Edition of this text includes three new case studies relating to healthcare issues.
Highlights and Details
- Contains worked examples, a large number of end-of-chapter exercises
- Has an extensive bibliography
- Practical applications of credibility theory are presented in the Appendix
- Contains both examples and exercise to reinforce knowledge of material
- Includes solutions manual
About the Author
Thomas N. Herzog, ASA, Ph.D.
Thomas N. Herzog, Ph.D., A.S.A, is the Chief Actuary of the Federal Housing Administration in Washington, D.C. He has a Sc.B. in Applied Mathematics from Brown University and a Ph.D. in Mathematics, with a major in Statistics, from the University of Maryland.
Dr. Herzog is the author or co-author of four books: Introduction to Credibility Theory; Applications of Monte Carlo Methods to Finance and Insurance, co-authored by Professor Graham Lord of Princeton University; Models for Quantifying Risk, co-authored with Robin Cunningham and Dick London; and Data Quality and Record Linkage Techniques, co-authored with Fritz Scheuren and William Winkler.
Dr. Herzog is the winner of the 1990 AERF Practitioner's Award for a paper on Home Equity Conversion Mortgages, written with Theresa R. DiVenti.