Experience Rating Reassessed [Discussion]

Mr. Bailey has made a timely contribution to the technical literature. His examination of the structure of experience rating is well organized, and the conscientiousness with which he sorts out and labels the areas of judgment is to be commended. The paper should be reviewed by someone qualified to deal with the mathematical developments. Absent such a qualification, I find it necessary to comment on the criteria which Mr. Bailey uses to define a good experience rating plan.