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Worst Allocations of Policy Layers for Independent and Identically Distributed Exponential Risks
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Masoud Amiri *   , Muhyiddin Izadi , Baha-Eldin Khaledi |
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Abstract: (3455 Views) |
In this paper, the worst allocation of deductibles and limits in layer policies are discussed from the viewpoint of the insurer. It is shown that if n independent and identically distributed exponential risks are covered by the layer policies and the policy limits are equal, then the worst allocation of deductibles from the viewpoint of the insurer is (d, 0, ..., 0). |
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| Keywords: Majorization, Shur-Convex Function, Policy Deductible, Policy Limit, Usual Stochastic Order. |
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Full-Text [PDF 220 kb]
(1237 Downloads)
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Type of Study: Research |
Subject:
Applied Statistics
Received: 2018/05/9 | Accepted: 2019/07/8 | Published: 2020/02/20
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