Risk Analysis
Description
This textbook presents mathematical methods of risk modeling and analysis in an application-oriented manner. Financial and actuarial aspects are treated jointly, for example with regard to simulation methods, risk measures, and risk aggregation. The book thus provides a solid foundation for quantitatively oriented risk management across a wide range of fields and fosters an understanding of interrelationships that are often not addressed in discipline-specific literature. Numerous examples repeatedly establish a concrete link to practice.
The book is aimed at students of business mathematics, economics, and industrial engineering at the bachelor's and master's level, as well as professionals working in banks, insurance companies, commercial enterprises, and consulting firms.
The translation was done with the help of artificial intelligence. A subsequent human revision was done primarily in terms of content.
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Persons
Prof. Dr. Claudia Cottin , Actuary (DAV), teaches at the Department of Engineering and Mathematics, Bielefeld University of Applied Sciences (HSBI).
Prof. Dr. Sebastian Döhler teaches at the Department of Mathematics and Natural Sciences, Darmstadt University of Applied Sciences.
Prof. Dr. Jan-Philipp Schmidt , Actuary (DAV), teaches at the Institute of Insurance Studies, TH Köln (University of Applied Sciences Cologne).
Content
Introduction.- Mathematical modeling of risks.- Risk measures and their application.- Risk mitigation strategies.- Dependence modeling.- Model selection and validation.- Simulation methods.