Abstract
In this paper, the author reviews some aspects of Bayesian data analysis and discusses how a variety of actuarial models can be implemented and analyzed in accordance with the Bayesian paradigm using Markov chain Monte Carlo techniques via the BUGS (Bayesian inference Using Gibbs Sampling) suite of software packages. The emphasis is placed on actuarial loss models, but other applications are referenced, and directions are given for obtaining documentation for additional worked examples on the World Wide Web.
Volume
5:2
Page
96-125
Year
2001
Keywords
predictive analytics
Categories
Financial and Statistical Methods
Simulation
Monte Carlo Valuation
Financial and Statistical Methods
Aggregation Methods
Financial and Statistical Methods
Loss Distributions
Financial and Statistical Methods
Risk Pricing and Risk Evaluation Models
Publications
North American Actuarial Journal
