A Hands-On Approach to Understanding and Using Actuarial ModelsComputational Actuarial Science with R provides an introduction to the computational aspects of actuarial science. Using simple R code, the book helps you understand the algorithms involved in actuarial computations. It also covers more advanced topics, such as parallel computing and C/

During the last two decades actuarial research has developed in a more applied direction. Although the original risk models generally served as convenient and sometimes tractable mathematical examples of general probabilistic and/or statistical theories, nowadays models and techniques are encountered that can be considered to be typically actuarial. Examples include ordering of risks by dangerousness, credibility theory and techniques based on IBNR models. Not only does this book present the underlying mathematics of these subjects, but it also deals with the practical application of the techniques. In order to provide results based on real insurance portfolios, use is made of three software packages, namely SLIC performing stop-loss insurance calculations for individual and collective risk models, CRAC dealing with actuarial applications of credibility theory, and LORE giving IBNR-based estimates for loss reserves. Worked-out examples illustrate the theoretical results. This book is intended for use in preparing university actuarial exams, and contains many exercises with varying levels of complexity. It is valuable as a textbook for students in actuarial sciences during their last year of study. Due to the emphasis on applications and because of the worked-out examples on real portfolio data, it is also useful for practising actuaries to guide them in interpreting their own results.

bookdown: Authoring Books and Technical Documents with R Markdown presents a much easier way to write books and technical publications than traditional tools such as LaTeX and Word. The bookdown package inherits the simplicity of syntax and flexibility for data analysis from R Markdown, and extends R Markdown for technical writing, so that you can make better use of document elements such as figures, tables, equations, theorems, citations, and references. Similar to LaTeX, you can number and cross-reference these elements with bookdown. Your document can even include live examples so readers can interact with them while reading the book. The book can be rendered to multiple output formats, including LaTeX/PDF, HTML, EPUB, and Word, thus making it easy to put your documents online. The style and theme of these output formats can be customized. We used books and R primarily for examples in this book, but bookdown is not only for books or R. Most features introduced in this book also apply to other types of publications: journal papers, reports, dissertations, course handouts, study notes, and even novels. You do not have to use R, either. Other choices of computing languages include Python, C, C++, SQL, Bash, Stan, JavaScript, and so on, although R is best supported. You can also leave out computing, for example, to write a fiction. This book itself is an example of publishing with bookdown and R Markdown, and its source is fully available on GitHub.

This contributed volume focuses on diasporans, their characteristics, networks, resources and activities in relation to international business and entrepreneurship. It presents an overview of diaspora concepts from an economic perspective, and analyzes the global-economic and societal effects and mechanisms, revealing both positive and negative aspects of diaspora activities. Providing insights into the socio-cultural influences, it discusses diaspora entrepreneurship and international business, the respective organisational models, investments and business types. Lastly it offers an assessment of managing diaspora resources and policymaking. This book was created by an interdisciplinary team of editors, co-authors and reviewers including historians, sociologists, psychologists, linguists and ethnologists, as well as experts in public policy, international business, marketing and entrepreneurship. This unique team (many of the authors are themselves diasporans with an extensive understanding of their topic) provides the first global academic platform on the subject, combining the latest empirical evidence from developing, emerging, transitional and developed countries with various combinations of diaspora flows that to date have received little attention.

1. Introduction : Dependence modeling / D. Kurowicka -- 2. Multivariate copulae / M. Fischer -- 3. Vines arise / R.M. Cooke, H. Joe and K. Aas -- 4. Sampling count variables with specified Pearson correlation : A comparison between a naive and a C-vine sampling approach / V. Erhardt and C. Czado -- 5. Micro correlations and tail dependence / R.M. Cooke, C. Kousky and H. Joe -- 6. The Copula information criterion and Its implications for the maximum pseudo-likelihood estimator / S. Gronneberg -- 7. Dependence comparisons of vine copulae with four or more variables / H. Joe -- 8. Tail dependence in vine copulae / H. Joe -- 9. Counting vines / O. Morales-Napoles -- 10. Regular vines : Generation algorithm and number of equivalence classes / H. Joe, R.M. Cooke and D. Kurowicka -- 11. Optimal truncation of vines / D. Kurowicka -- 12. Bayesian inference for D-vines : Estimation and model selection / C. Czado and A. Min -- 13. Analysis of Australian electricity loads using joint Bayesian inference of D-vines with autoregressive margins / C. Czado, F. Gartner and A. Min -- 14. Non-parametric Bayesian belief nets versus vines / A. Hanea -- 15. Modeling dependence between financial returns using pair-copula constructions / K. Aas and D. Berg -- 16. Dynamic D-vine model / A. Heinen and A. Valdesogo -- 17. Summary and future directions / D. Kurowicka

The increasing complexity of insurance and reinsurance products has seen a growing interest amongst actuaries in the modelling of dependent risks. For efficient risk management, actuaries need to be able to answer fundamental questions such as: Is the correlation structure dangerous? And, if yes, to what extent? Therefore tools to quantify, compare, and model the strength of dependence between different risks are vital. Combining coverage of stochastic order and risk measure theories with the basics of risk management and stochastic dependence, this book provides an essential guide to managing modern financial risk. * Describes how to model risks in incomplete markets, emphasising insurance risks. * Explains how to measure and compare the danger of risks, model their interactions, and measure the strength of their association. * Examines the type of dependence induced by GLM-based credibility models, the bounds on functions of dependent risks, and probabilistic distances between actuarial models. * Detailed presentation of risk measures, stochastic orderings, copula models, dependence concepts and dependence orderings. * Includes numerous exercises allowing a cementing of the concepts by all levels of readers. * Solutions to tasks as well as further examples and exercises can be found on a supporting website. An invaluable reference for both academics and practitioners alike, Actuarial Theory for Dependent Risks will appeal to all those eager to master the up-to-date modelling tools for dependent risks. The inclusion of exercises and practical examples makes the book suitable for advanced courses on risk management in incomplete markets. Traders looking for practical advice on insurance markets will also find much of interest.