Accession Number:
ADA001338
Title:
Model Variations in Credibility Theory.
Descriptive Note:
Research rept.,
Corporate Author:
CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER
Personal Author(s):
Report Date:
1974-08-01
Pagination or Media Count:
69.0
Abstract:
Classical credibility theory is a linearized Bayesian forecasting method, in which the expected value of the next observation is obtained as a mixture of a prior mean and the sample mean of observed data. In this paper, the author considers a variety of extensions to this model which appear to have practical importance. The main tool is least-squares theory.
Descriptors:
Subject Categories:
- Economics and Cost Analysis
- Operations Research