Tbilisi Mathematical Journal
- Tbilisi Math. J.
- Volume 6 (2013), 57-71.
Characterization theorems for mean value insurance premium calculation principle
Characterization theorems for several properties possessed by the mean value insurance premium calculation principle are presented. Demonstrated theorems cover cases of additivity, consistency, iterativity, and scale invariance properties. Results are formulated in a form of necessary and sufficient conditions for attainment of the properties imposed on the auxiliary function with the help of which the mean value premium calculation principle is defined. We show also that for the mean value principle subjected to pricing of only strictly positive risks the class of the auxiliary functions producing scale invariant premiums is larger than in the general case.
Tbilisi Math. J., Volume 6 (2013), 57-71.
Received: 9 August 2013
Revised: 11 December 2013
Accepted: 18 December 2013
First available in Project Euclid: 12 June 2018
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Pratsiovytyi, Mykola; Drozdenko, Vitaliy. Characterization theorems for mean value insurance premium calculation principle. Tbilisi Math. J. 6 (2013), 57--71. doi:10.32513/tbilisi/1528768937. https://projecteuclid.org/euclid.tbilisi/1528768937