Experience Rating Reassessed [Discussion]

This paper is distinguished by two virtues which are unfortunately not often found in combination: on the one hand, incisive theoretical analysis, and on the other, thorough practicality. The first deserves mention because the author has developed the mathematical basis for a crucial problem which is not only one of our most difficult, but one which for many years has provided a broad field of uncertainty upon which the exponents of executive intuition have jousted in. darkness with the upholders of underwriting judgment. The second virtue was demonstrated to this reviewer by the important applications in which the formulas presented in this paper have proved to be exceedingly valuable in competitive rate making.