ERM and DFA Using Active Knowledge Structures

Abstract
Active, uncommitted knowledge structures are described as a means of representing risks with either a stochastic history or a hypothetical value, or a mixture of the two within a single risk. These same knowledge structures are shown to contribute to an increased speed of organizational response in a dynamic environment and to the ability of a simulation model to learn from its own operation.
Volume
Summer
Page
1-14
Year
2003
Categories
Actuarial Applications and Methodologies
Dynamic Risk Modeling
Dynamic Financial Analysis (DFA);
Financial and Statistical Methods
Statistical Models and Methods
Nonparametric Methods
Actuarial Applications and Methodologies
Enterprise Risk Management
Publications
Casualty Actuarial Society E-Forum
Authors
Sam Manoff
Jim Brander